Aztec responded by “shutting down Aztec Connect”: mainly for commercial reasons, not related to regulation

On March 13, The relevant head of Aztec Network, a privacy and expansion solution based on ZK-Rollup, responded in the community: “The decision to close Aztec Connect is mainly for commercial reasons, and there is no regulatory agency to contact the team. The privacy of Aztec Connect has led to some problems in the design and increased maintenance costs. The company is focusing on the next generation of protocols, which will support fully programmable smart contracts, which are privacy by default. Considering the scale of the new project, we need to focus on all engineering resources to complete it. We still Focus on L2 Rollup and never establish L1. The strategy has never changed but is entering the next stage. “

Interpretation of this information:

The Aztec Network, a privacy and expansion solution based on ZK-Rollup, has responded to queries regarding the closure of its Aztec Connect program. According to the head of the company, the decision was purely commercial in nature, and there was no regulatory body involved in it. The design problems and increased maintenance costs associated with Aztec Connect’s privacy were cited as additional reasons for its closure. The company now aims to focus on the next generation of protocols that will support fully programmable smart contracts, which are private by default. This project requires the company’s full engineering resources, and the L2 Rollup strategy remains unchanged.

In the cryptocurrency industry, privacy is a crucial component in maintaining user security and anonymity. Aztec Network’s expertise in building privacy-focused solutions based on ZK-Rollup technology made them popular among users who were looking for secure blockchain transactions. Aztec Connect was developed as part of this solution, but as the company’s latest statement reveals, it was shut down due to the additional maintenance costs associated with the privacy it offered.

Now, the company plans to move forward with a next-generation protocol that will support fully programmable smart contracts with privacy by default. The scale of this new project requires the company’s full engineering resources, hence the decision to focus on it exclusively. It is worth noting that even as the company moves ahead with this new project, they have not changed their L2 Rollup strategy. Instead, it’s just the next stage of it.

In conclusion, the closure of Aztec Connect was a commercial decision based on increased maintenance costs caused by its privacy-focused design. The company is now focusing on the next generation of protocols designed to support fully programmable smart contracts that offer privacy by default. The L2 Rollup strategy remains a vital part of the company’s plan, which has now moved into the next stage.