The personal layer-2 chain Aztec Community introduced on Dec. 15 a $100 million Sequence B funding spherical led by enterprise capital agency a16z crypto. Different buyers within the spherical embody A Capital, King River, Variant, SV Angel, Hash Key, Fenbushu, and AVG.
By partnering with a16z, the corporate plans to rent new engineers and construct a “next-generation encrypted structure” that enables customers to confirm that blockchain guidelines had been adopted with out revealing any underlying info. Encrypted blockchains permit customers to transact with privateness and anonymity.
“What we’re constructing is a revolutionary piece of know-how that transforms how we work together with one another on-line, through which the top consumer is the shopper, reasonably than the product. Finish-to-end encrypted blockchains defend people, obviating the necessity for centralized monetary methods.”, said Aztec CEO Zac Williamson in an official announcement.
Aztec is reportedly engaged on a testnet launch inside 12 months, and in a full deployment on the mainnet inside 24 months.
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In response to the corporate, its cryptography has been examined in manufacturing with Aztec Join, permitting decentralized finance (DeFi) protocols to combine privateness in a whole bunch of transactions. Aztec Join’s ecosystem consists of Ethereum DeFi protocols similar to Aave, Curve, Lido, Component, Set Protocol, Compound, and Liquity.
The corporate can be creating a public-private execution layer for its blockchain, which is designed to combine encrypted and unencrypted purposes seamlessly. Aztec’s co-founder Joe Andrews famous:
“From PGP and SSL to finish to finish encrypted messaging, we depend on encryption in our day by day lives for companies and commerce to thrive. With a16z we’re standing on the shoulders of giants to carry the encryption now we have loved since Netscape to our digital Web3.0 lives. We couldn’t consider a greater accomplice to assist us scale Aztec to mainstream.”
Aztec’s privateness community was formally launched on the Ethereum blockchain in February 2020. With Zcash-based know-how, it offered confidential tokens the place quantities had been cryptographically hidden, Cointelegraph reported.