Aztec 2.0 Launches Ethereum Layer 2 Scaling Solution for Privacy Using zkSNARKs
Aztec, an Ethereum based protocol, has released its L2 scaling solution coupled with the project’s fundamental aspect of privacy. The startup announced this news in a Medium post earlier today, noting that Aztec 2.0 is now live on the Ropsten testnet. This comes as one of the many reliefs to an ailing Ethereum ecosystem due to network congestion and high gas costs.
According to the post, Aztec’s L2 scaling solution has been derived from the zero-knowledge (zk) rollup tech. This infrastructure is basically part of Ethereum’s zero-knowledge proofs that have come up to make transactions private. Based on the PLONK research, Aztec claims that its newly debuted L2 scaling network enables the protocol to leverage zkSNARKS tech in two distinct ways.
For starters, zkSNARKS is used to encode every transaction as part of protecting Aztec users’ data. It also plays a role in the ‘roll-up’ of these transactions, hence the batching into one proof that is, in turn, sent to Ethereum’s on-chain. Aztec has since said that this approach could scale its network throughput up to 300 TP/s and preserve on-chain data simultaneously.
“Using this technique, the network can scale on-demand up to a hard limit of ~300 TX/S, while preserving on-chain data availability.”
The firm further claims that gas costs will be slashed by 200x in Aztec 2.0 compared to prevailing costs within its 1.0 ecosystem. Other than scalability solutions, Aztec has also introduced an open-source scripting language dubbed ‘Noir.’ This will allow developers to easily compose the zkSNARKS transactions code compatible with the new L2 scaling solution by Aztec.
Aztec plans to upgrade this innovation in November to integrate DeFi access while maintaining scalability and privacy. The post reads,
“This upgrade allows users to anonymously access DeFi transactions at a fraction of the gas price. And, without having to port DeFi protocols to layer 2.”