Aztec Launches Testnet for Privacy-Focused Layer-2 Rollup
Aztec, a privacy-focused layer-2 rollup, announced the launch of its testnet. Key points include:
- Development took over 8 years.
- Targets institutional needs for confidentiality in large transactions.
- Utilizes encryption at the protocol level, differing from other zero-knowledge rollups.
- Co-founder Zac Williamson highlighted the importance of privacy over scalability.
- Acknowledges that fully private transactions require more resources, impacting scalability.
- Raised $100 million in a Series B funding round in 2022, signaling growing interest in blockchain privacy solutions.
- Recent developments show a trend towards privacy tools as institutions enter the blockchain space.