DeFi

Aztec Network Completed $100 Million Series B Funding

Aztec Network announced the completion of a $100 million Series B funding, led by cryptocurrency a16z. The grant will help develop a next-generation encrypted architecture that will allow users to verify that blockchain rules are correctly followed without revealing any underlying information.

According to official news, Aztec Network, a privacy and scaling solution based on ZK Rollup, has announced the completion of a $100 million Series B funding round, led by a16z, A Capital, King River Capital, Variant, SV Angel, HashKey Capital, Fenbushi Capital, Alumni Ventures and others participated in the investment.

This funding round will be used to develop the cryptographic architecture and expand the engineering team to allow users to verify that the blockchain rules are followed correctly without revealing any background information.

The Aztec team has grown from seven to 40 in the past year and hopes to double its size shortly.

As updated in an earlier Coincu News article, FTX has reported beginning blocking accounts that have sent coins through zk.money of Aztec Network.

FTX has identified the DApp as a mixer. Aztec has now responded to the claims by reiterating its core values and confirming that it “will not be passive in stopping illegal behavior.”

Unlike other web3 protocols, which have either had to close down or abide by U.S. sanctions, Aztec have taken a different approach. The network argues that it “restricts behavior, rather than individuals”.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Foxy

Coincu News

Victor

Recent Posts

Gate.io Launches New USDE Wealth Management Products, Pioneering a High-Yield and High-Liquidity Model

This product launch marks an innovative step forward for Gate.io in the stablecoin wealth management…

35 minutes ago

Franklin Templeton FOBXX Now Available On Ethereum

Franklin Templeton FOBXX is now available on Ethereum, extending its presence to seven blockchain networks,…

39 minutes ago

Dora Factory Vota Launch Enables Private Decentralized Governance

Dora Factory Vota Launch uses MACI technology to enable private decentralized governance and encrypted on-chain…

41 minutes ago

Bhutan Government Moves Bitcoin to Binance Exchange

Bhutan moved a significant amount of Bitcoin to Binance, likely to take profits, amid rising…

56 minutes ago

New Platform CoreFi Strategy Launched to Boost Bitcoin Returns

Canadian firm DeFi Technologies introduced the CoreFi Strategy to provide leveraged, regulated Bitcoin and CORE…

2 hours ago

10 Best Cryptocurrencies to Buy in November 2024 Before Major Bull Run Swings into Action

Cryptocurrency has come a long way since its early days. With the rise of Bitcoin…

3 hours ago

This website uses cookies.