Aztec Community, a personal layer-2 chain, introduced a $100 million Sequence B funding spherical led by enterprise capital agency a16zCrypto on December 15. Different traders within the spherical embody A Capital, King River, Variant, SV Angel, Hash Key, Fenbushu and AVG.
Partnering with a16z, the corporate plans to rent new engineers and construct a “next-generation encrypted structure” that permits customers to confirm that blockchain guidelines are being adopted with out revealing any underlying info. was introduced up. Encrypted blockchains enable customers to transact with privateness and anonymity.
“What we’re constructing is a revolutionary piece of expertise that modifications how we work together with one another on-line, by which the top person is the client quite than the product. In an official announcement, Aztec CEO Zac Williamson mentioned, end-to-end encrypted blockchains shield people, decreasing the necessity for centralized monetary programs.
Aztec is reportedly engaged on a testnet launch inside 12 months, and a full deployment on the mainnet inside 24 months.
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In line with the corporate, its cryptography has been examined in manufacturing with Aztec Join, permitting the decentralized finance (DeFi) protocol to combine privateness throughout a whole lot of transactions. Aztec Join’s ecosystem consists of Ethereum DeFi protocols equivalent to Aave, Curve, Lido, Factor, Set Protocol, Compound, and Liquidity.
The corporate can also be creating a public-private execution layer for its blockchain, designed to seamlessly combine encrypted and unencrypted purposes. Aztec co-founder Joe Andrews mentioned:
“From PGP and SSL to end-to-end encrypted messaging, we depend on encryption in our each day lives for companies and commerce to flourish. With the A16z we stand on the shoulders of giants to convey the encryption we have loved since Netscape into our digital Web3.0 lives. We could not consider a greater associate to assist us convey Aztec into the mainstream.
Aztec’s Privateness Community was formally launched in February 2020 on the Ethereum blockchain. Cointelegraph reported that with Zcash-based expertise, it gives privateness tokens the place cryptographically hidden.
