Aztec Network Shutting Down ZK-Rollup Platform to Create Next-Generation Blockchain
On March 13, the leading roll-up privacy provider in London announced plans to sunset the operation of the Zero Knowledge-Rollup network on March 17. The impending closure of the Ethereum-powered privacy infrastructure, Aztec Connect, will affect the transaction conducted through the ZK. Money and ZK. Pay.
According to the official announcement, Aztec plans to activate the withdrawal mode on the Connect platform to allow users to remove their assets at a zero fee. The report revealed that the Aztec user would have one year to withdraw their assets from the platform before the closure.
Unplanned Closure of Aztec Connect
The Aztec group has been operational since July 2022 and has provided privacy scaling solutions to over 100000 users in the Web3 space. The team has officially opened the withdrawals for Connect users following a decision to close its operation. As per the report from March 17, Aztec will cease the provision of services and products, including the popular contract permissions listed on its Connect platform.
Following the unexpected announcement, Aztec plans to engage the crypto-native community in developing a unique platform with a feature similar to the Connect platform. The team plans to offer technical and financial support to the developers interested in pursuing Web3-related projects.
The updates on the closure of Aztec Connect come when the company plans to develop a unique next-generation blockchain. The team intends to use the existing Aztec Connect Resources, including the encryption technologies, to create its first next-generation blockchain.
Additionally, the Aztec team will leverage their expertise to develop the zero-knowledge programming language Noir for the developers.
The Aztec development in the crypto space has mirrored ConsenSys’ latest ZK-Rollup technology, which will undergo preliminary testing on March 28.
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