Privacy protocol led by ConsenSys to launch on Ethereum, unveiling privacy stablecoin ZkDai

The privacy protocol Aztec Protocol, incubated by Ethereum incubator ConsenSys, will launch its privacy network on Ethereum, providing users with a solution to make transactions private and efficient.

• Data Privacy: Unable to determine transaction volume
• User Privacy: Unable to confirm sender and receiver
• Code Privacy: Privatizing smart contracts

Building Anonymous Transactions for Ethereum

Aztec Protocol CEO Thomas Walton-Pocock recently announced in a blog post that the two core functionalities of the privacy protocol have been officially deployed, including:

• Aztec Crypto Engine ACE: The Aztec Ethereum mainnet smart contract verifier that validates the correctness of every privacy transaction.
• Privacy SDK: Allowing developers to easily integrate privacy versions of encrypted assets into DApps through the SDK development toolkit.

CEO Walton-Pocock stated that Aztec initially integrated with DAI and plans to add support for other Ethereum-based assets in the next 6 weeks. The development team mentioned:

The Aztec protocol uses zero-knowledge proof algorithm zk-SNARKs for encryption, which is more efficient and cost-effective compared to many existing alternative solutions.

In addition, the Aztec team also intends to introduce the privacy protocol into the banking system. According to reports, J.P. Morgan's blockchain team conducted a series of tests on the Aztec privacy protocol in February last year.

ConsenSys Announces 14% Workforce Reduction

ConsenSys is one of the world's largest and most influential Ethereum developers, dedicated to incubating and funding many Ethereum-based projects and building Ethereum infrastructure.

As part of the ConsenSys 2.0 restructuring plan, the company laid off 13% of its staff at the end of 2018 and announced another 14% workforce reduction on February 4th this year, restructuring into software development and investment departments.

Despite extensive development and experimental projects in various fields related to blockchain technology, the practical application of blockchain remains limited so far, which may be one of the reasons why ConsenSys has faced challenges in fundraising and periodic layoffs.

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