Aztec Network has closed a $100 million funding round led by Andreessen Horowitz (A16z). The web3 startup says it wants to bring encryption to the blockchain. Aztec co-founder Zac Williamson said that encryption is one of the missing elements to bring web3 to the mainstream, adding that although there are a few encrypted blockchains out there, they are more like bitcoin.
Aztec Network is developing a programmable blockchain network, which Joe Andrews, also a co-founder at the company, describes as: “an encrypted version of Ethereum. Normally on Ethereum everything is public, but we are making it encrypted. That journey has taken us many years to play out.”
The company also announced Aztec Connect as the first ecosystem to be built on its network. According to the Aztec website, Aztec Connect integrates with Ethereum Decentralised Finance (DeFi) protocols like Aave, Lido, and Element Finance. The company plans to add Compound Finance and five other protocols in the future.
