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 message from the head of Aztec Network addresses the closure of Aztec Connect and the reason behind it. The closure is primarily due to commercial reasons and the team cannot be contacted by any regulatory agency. Maintenance costs have increased and there have been problems in design issues regarding the privacy of Aztec Connect. However, the company is moving forward towards the next generation of protocols that will support programmable smart contracts with privacy as their default setting. The focus of the company is on L2 Rollup and never establishing L1. This strategy remains unchanged and is entering the next stage.

The first keyword to summarize the message is “Aztec Connect Closure.” Aztec Network’s decision to close down Aztec Connect is mainly due to commercial reasons. This closure is necessary to enable the company to focus on the resources needed for the next generation of protocols that will support programmable smart contracts with privacy as their default setting.

The second keyword is “L2 Rollup.” Aztec Network is mainly focusing on L2 Rollup and never establishing L1. Their strategy remains unchanged, and they are entering the next stage. L2 Rollup is a scaling solution that handles transactions off-chain and mitigates the high gas fees associated with L1, promoting efficiency in transaction processing.

The third keyword is “Smart Contracts.” The company’s focus is shifting towards the next generation of protocols, which will support programmable smart contracts with privacy as their default setting. This shift in focus will enable the company to develop a more efficient and secure platform with privacy as its primary concern.

In conclusion, Aztec Network is closing down Aztec Connect mainly for commercial reasons, and the company’s focus is shifting towards the next generation of protocols that will support programmable smart contracts with privacy as the default setting. The company is focusing on L2 Rollup, and their strategy remains unchanged as they enter the next stage of development.