The post Ethereum Gets Another Privacy Boost as Aztec Brings Back zk.money appeared on BitcoinEthereumNews.com.
In brief Aztec Labs relaunched zk.money, a privacy wallet it shut down three years ago, on its privacy-first Ethereum layer-2, Aztec Network. Users send stablecoins to tags like bob.zk.money. Payments inside the wallet are private, but deposits from Ethereum remain public. Transactions are capped at $2,500 during the early rollout. The original zk.money drew more than 75,000 wallets and $100 million in volume. Three years after pulling the plug, Aztec Labs is bringing zk.money back from the dead. The privacy-focused Ethereum developer relaunched the self-custodial wallet Tuesday, letting users send and receive stablecoins without broadcasting balances, amounts, or recipients to the world. Myriad: Where does Ethereum go next? Click to make your prediction. Users claim a tag such as bob.zk.money, which resolves through the Ethereum Name Service, or ENS, to a deposit address, according to Aztec’s posts on X. “Onchain transactions between two individuals shouldn’t mean publishing your financial history to the world,” Aztec Labs CEO Joe Andrews said in a statement. The wallet runs on Aztec Network, which the company’s developer documentation describes as a privacy-first Ethereum layer-2, a separate network that settles back to Ethereum. Private functions run on the user’s own device, which generates zero-knowledge proofs. These are cryptographic receipts that confirm a transaction is valid without revealing its details. The private payments via zk.money, though, have their limits. Deposits from Ethereum remain public, Aztec noted, while payments made inside zk.money stay hidden. Users can send USDC, USDT or DAI from an exchange or Ethereum wallet.. Early caps also apply, since transactions are limited to $2,500 each, and all users share a $50,000 daily deposit ceiling. Because the wallet is self-custodial, Aztec says it can’t spend or freeze user funds, and no privileged administrator controls it. The original zk.money debuted in 2021 and drew more than 75,000…