RATE Group | Privacy Focused Aztec Protocol Goes Live on Ethereum
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Privacy Focused Aztec Protocol Goes Live on Ethereum

03 Feb Privacy Focused Aztec Protocol Goes Live on Ethereum

Posted at 17:56h in Ethereum News by

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Privacy Focused Aztec Protocol Goes Live on Ethereum February 3, 2020 February 3, 2020 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY

The Aztec privacy network has been rolled out on the Ethereum blockchain.

The network is introducing confidential tokens using Zcash powered tech, which facilitates hiding monetary value of tokens using cryptography.

As of now, the network is deployed only on a limited basis as it only backs zkDai, a private variant of Maker’s stablecoin.

Several more zero knowledge tokens are expected to be released in the weeks ahead, while total access to tailor made creation of tokens will be made available in two months.

Aztec protocol, similar to Zcash (ZEC), utilizes Zk-SNARKs to assess encrypted trades. While making a transfer, a proof of correctness is created as encryption of the amount is carried out.

The tool is linked to Aztec’s Cryptography Engine smart contract, which performs trade assessment.

Underlying the contract is a mechanism of “notes,”…

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