Aztec Adds Private Transactions to Ethereum Blockchain

The Aztec Confidential Network was officially launched on the Ethereum blockchain on February 1st.

Zk-SKARKs technology will allowusers to work with confidential tokens, with which you can hide the transaction amount.

At the moment the network is not fully operational,since it only supports zkDai – a private version of the Maker stablecoin. According to the developers, other zero-knowledge tokens will be added in the coming weeks. 

Aztec protocol uses Zk-SNARKs technologyfor validating encrypted transactions. It is worth noting that, unlike Zcash, Aztec does not hide the recipient and sender addresses. On the Ethereum blockchain, the system will operate using the Cryptography Engine smart contract. 

Developers say their ultimate goalis to create a “privacy triptych” that could completely hide a separate part of the Ethereum blockchain. Their next step will be to add a function to hide the identities of the sender and recipient. Aztec's CEO said this feature could be added later this year.

Recall that preparations for the launch of Aztec on the Ethereum blockchain began in September last year.

Based on materialscointelegraph.com