Aztec Network launches Ignition Chain on Ethereum, hailed as the first fully decentralized L2.
The team behind the privacy-focused L2 project Aztec Network has announced the launch of the Ignition Chain on the Ethereum mainnet. Developers have described it as the “first fully decentralized second-layer solution.”
Block production commenced after the validator queue reached 500 participants. The deployment on the main network was preceded by the launch of a public testnet in May.
Ignition Chain serves as the foundation for creating a “private world computer,” where DeFi applications can be developed with end-to-end confidentiality. The technology employs zero-knowledge proofs to address blockchain transparency issues while maintaining data verifiability.
Last week, registration began for the token sale of the project’s native asset, AZTEC. The token is used for staking, governance, and block reward payouts. Validators must lock 200,000 AZTEC to activate.
At the time of writing, the project has raised approximately $2.7 million from over 1,960 campaign participants.
Open trading is set to begin on December 2.
Back in 2023, Aztec developers announced the discontinuation of the Connect second-layer network for Ethereum scaling.
