Aztec Community, a privacy-focused Layer 2 on Ethereum, has formally launched its Ignition Chain on Ethereum mainnet on Wednesday, following the beginning of its AZTEC token sale final week.
“Aztec simply shipped the Ignition Chain, the primary totally decentralized L2 on Ethereum,” the workforce introduced Wednesday in a publish on X. “This launches the decentralized consensus layer that powers the Aztec Community.”
The mainnet launch of Ignition Chain, which permits programmable privateness, got here after the community’s public testnet rollout in Might. Ignition Chain noticed its validator queue attain 500 on Wednesday, which triggered block manufacturing on the Ethereum mainnet, the workforce mentioned.
Ignition Chain powers Aztec’s imaginative and prescient of a “personal world pc,” the place builders construct DeFi apps with end-to-end confidentiality. It goals to handle Ethereum’s transparency limitations through the use of zero-knowledge proofs whereas sustaining verifiability. In 2022, the Aztec workforce raised $100 million in its Sequence B funding spherical led by a16z.
“2025-2035 shall be Privateness’s flip of the wheel,” mentioned Zac Williamson, co-founder of Aztec Community, in a publish on X.
“We’re going to see the rise of services and products that carry out the identical data processing function, however utilizing distributed ledgers as their settlements layer and privateness tech because the execution engine,” mentioned Williamson. “Knowledge shall be sucked out of the Web2 fortresses and given again to the person.”
AZTEC token
Final week, Aztec introduced the token sale of AZTEC, which serves because the native asset of Ignition Chain. It’s used for staking, governance, and block rewards. A validator wants 200,000 staked AZTEC tokens to change into lively on the community.
The token sale registration started final week, to date attracting round $2.5 million throughout 2,088 bids from 1,925 distinctive bidders.
The official public sale bidding for most people is ready to begin on Dec. 2.
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