Aztec privacy network officially released on the Ethereum blockchain starting February 1, 2020 yesterday, will this move make the Ethereum network anonymous? will Ehereum and its descendants later be classified as Privacy coins?
Using Zcash-based technology, he introduced a confidential token where all amounts would be cryptographically hidden.
This network is still in a limited deployment stage because it only supports zkDai, the private version of StableCoin Maker. Other zero information tokens will be discharged in the coming weeks, while full access to custom tokens will be accessible in two months.
Aztec protocols, such as Zcash (ZEC), use Zk-SNARKs to validate encrypted transactions. When generating a transfer, proof of correctness is generated when the amount is encrypted.
This system relies on the Aztec Cryptography Engine smart contract, which can be used to validate transactions. Contracts are based on “notes” systems, which are generally used in input and output structures such as Bitcoin. However, unlike Zcash, Aztec does not hide the identity of the sender and receiver of money.
Like Zcash, Aztec needs to be setup. This is the main requirement for all zk-SNARK implementations, because it will produce a common set of parameters to ensure efficient calculation.
Smart Contract Will Be Privacy
Aztec’s goal is to provide its “Triptych of privacy”, which will completely hide certain parts of the Ethereum blockchain. The next step is to hide the identity of the sender and recipient, while the final achievement is to make the smart contract completely private.