The Aztec privacy network has officially launched on the Ethereum blockchain on Feb. 1.
Using Zcash-based technology, it introduces confidential tokens where all amounts are cryptographically hidden.
The Aztec protocol, just like Zcash, uses Zk-SNARKs to validate encrypted transactions.
When generating a transfer, a proof of correctness is generated as the amount gets encrypted.
The system hinges on Aztec's Cryptography Engine smart contract, which can be used to validate the transactions.
Unlike Zcash Aztec currently does not hide the money's sender and recipient.
Like Zcash, Aztec needed to conduct a trusted setup ceremony.
Aztec's goal is to deliver its "Triptych of privacy," which would completely hide a particular portion of the Ethereum blockchain.
The next step is to hide senders and recipients, while the final achievement is making smart contracts completely private.
"Our priority is to deploy PLONK to ACE in 2020. PLONK is the superfast Universal SNARK developed by AZTEC CTO Zac Williamson and AZTEC Chief Scientist Ariel Gabizon, which will eventually allow private smart contracts to execute with just one trusted setup."
Privacy on Ethereum: Aztec Protocol Launches on Mainnet
gepubliceerd op Feb 3, 2020
by Cointele | gepubliceerd op Coinage
Coinage
Vermeld in dit artikel
Recent nieuws
Alles zien
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.