Currently users can use this service to transfer ETH anonymously, and Aztec has set a limit of 1 ETH for each account.
Original title: “New DeFi gameplay丨Privacy Rollup service is online! Take you to experience the anonymous transfer of ETH on the Aztec network》
Written by: Porridge Overnight
In the early morning of March 16, Beijing time, the much-watched Ethereum privacy project Aztec launched its Rollup service (zk.money).
Up to now, users can use the service to transfer ETH anonymously, while anonymous transfers of ERC-20 tokens will need to wait until the next few weeks. (According to the announcement, Aztec will first add WBTC, BAT, AAVE and DAI. ERC-20 assets, and all ERC-20 tokens will be supported in the future).
Note: The current Aztec is still a beta version in nature. In order to reduce the risk, Aztec chose to set an amount limit of 1 ETH for each account, and the transaction limit will be gradually increased in the future.
What are the usage scenarios of Aztec?
In January of this year, billionaire Mark Cuban (Mark Cuban) shared a piece of NFT work and was picked up by netizens on his Ethereum address and DeFi financial transaction history.
When we use the Ethereum network, we will leave a lot of traces, which can be found on the blockchain browser, and the true trajectory of the address owner can be restored through analysis.
For example, Mark Cuban has been active on the Ethereum network since January of this year. His first transaction was to try out the loan of DAI and WETH through the AAVE platform.
The first small attempt showed that he was just a novice at the time. A few days later, he deposited 1000 aWETH.
In fact, as long as Mark Cuban does any Ethereum DeFi or NFT operation, interested people can know for the first time that this kind of privacy problem will really make the rich feel headaches, especially those who are famous like him. .
Is there any way to solve it?
One of the existing solutions is to use TornadoCash, which is a completely decentralized anonymous protocol, which can effectively destroy the transaction graph, but the disadvantage is that it is very expensive. The amount of gas used in a transaction is close to 1 million, and it is withdrawn. The time is relatively long.
The privacy rollup layer 2 network provided by Aztec 2.0 is a trade-off between availability, cost and privacy. It uses advanced PLONK ZK-SNARK technology and has been recognized by Ethereum co-founder vitalik.
The ZK-ZK Rollup (or ZK² for short) developed by Aztec contains two or more layers of SNARKs:
- Each of the “low-level” ZK-SNARKs represents a private transaction;
- The “upper” ZK-SNARKs (Rollup SNARKs) concisely prove the correctness of the lower-level SNARKs;
In other words, this solution not only solves the privacy problem, but also solves the scalability problem, while reducing transaction costs.
For a detailed description of the scheme, please refer to this article by Babbitt: ” Privacy Scheme ZK² Rollup: How to Realize High-speed and Cheap Private Transactions on Ethereum “
Aztec tutorial
As mentioned above, currently users can use the Aztec network to make anonymous ETH transfers. We only need to visit the website , connect to the small fox wallet for testing, and then create a username (for example, the author uses bob).
After the creation is complete, click the “Shield” button to see the following page:
Enter the deposit funds (currently the maximum limit is 1 ETH), plus a fixed fee (0.00525 ETH), and you will see the following page after confirmation:
In general, the deposit operation will involve two handling fees, one is the fixed Aztec network consumption fee, and the other is the miner’s fee for the miner, which is equivalent to about $19 during the test.
After the transaction is confirmed, we need to wait about 2-4 hours for the account to be credited, and then we can transfer the funds to our other account.
Note: Although the target address can be filled in the Ethereum main network address when transferring funds, the fee will be very high, and if it is the Aztec second layer network, the handling fee is fixed at 0.004 ETH, which is currently about 7 US dollars.
After waiting for a period of time, the anonymous transfer will arrive, and the true source address of the transfer will not be displayed.
From the current point of view, this experience is still very painful, but it can indeed protect the privacy of users, while reducing transaction costs.
According to Aztec’s official instructions, if this ZK-ZK Rollup technology is to be directly used in DeFi applications, it will need to wait until 2022. Short-term users can only use it painfully to increase privacy.
As for the question of “whether there will be a token airdrop” that many people are concerned about, it depends on the mood of the project party.
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