Why the AZTEC protocol is one of the best things to ever happen to Ethereum.

  • Confidential transaction of ANY ERC-20 token.

  • It also enables the construction of purely confidential assets that don’t have any kind of ERC-20 token equivalent.

  • For the first time ever, it’s possible to create confidential digital assets on Ethereum, obtaining the immutability and decentralization benefits of public blockchains without sacrificing privacy.

  • AZTEC zero-knowledge proofs are also very efficient to construct, and are well within the capabilities of hardware wallets.

  • A confidential decentralized exchange, where people can trade different AZTEC assets in complete confidentiality — neither the quantities or prices of orders can be gleaned from processed orders

  • Confidential weighted voting. Governance mechanics that respect the privacy of a user’s vote are essential [for] a large range of financial applications and the AZTEC protocol’s efficient range proofs make this achievable.

  • Anonymous identity sharing schemes. Being able to prove that you’re part of a group, without revealing who in the group you are is an essential component for many compliance and KYC processes and our AZTEC token standard will support this kind of identity system.

  • Combined together, this will give builders the tools needed to create the next wave of decentralized financial services; digital assets with implicit privacy and confidential governance mechanics built in from the ground up.

The full article is one of the most exciting things I've read in a while.

Submitted December 06, 2018 at 05:14PM }
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