Aztec has developed a trading protocol for Ethereum that facilitates private transactions on the public blockchain using zero-knowledge proofs. This technology addresses the need for confidentiality in blockchain transactions, allowing users to trade assets without revealing transaction details to the public.
Funding
$119.1M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
+11Founders
Product
Problem
On the Ethereum blockchain, transactions are typically public, which can expose sensitive financial data and user information. This lack of privacy limits the adoption of blockchain technology for use cases requiring confidentiality.
Solution
Aztec provides a privacy-focused Layer 2 network on Ethereum, enabling confidential transactions and programmable privacy for decentralized applications (dApps). By leveraging zero-knowledge proofs (ZKPs), Aztec allows users to transact and interact with dApps without revealing transaction details or user data to the public. Developers can build applications that seamlessly blend public and private state, choosing what data to keep private and what to make public. This approach unlocks new possibilities for financial applications, identity management, gaming, and governance, all while maintaining the security and transparency of the underlying blockchain.
Target Audience
The primary target audience includes developers building decentralized applications on Ethereum who require privacy features, as well as users seeking confidential transactions and data protection within the Web3 ecosystem.
Features
- Support for private and public state within smart contracts, enabling selective privacy
- Noir: a Rust-like domain-specific language (DSL) designed for writing zero-knowledge applications
- Client-side ZK proof generation, ensuring user data and activity remain on the user's device
- Decentralized Layer 2 testnet for deploying and testing privacy-preserving smart contracts
- Compatibility with composable wallets, block explorers, and bridges for building novel applications
- Support for a range of use cases, including undercollateralized lending, private DEXs, private voting systems, and private NFTs