Sept. 30 (CandyPulse) — One of Ethereum's best-known privacy tools is back. Aztec Labs has relaunched zk.money, a self-custodial wallet for private crypto payments, three years after it shut down the original. The new version runs on Aztec Network, the company's privacy-focused Ethereum Layer 2.
Key takeaways
On most blockchains, every payment is public. Anyone can see how much you sent, to whom and what's left in your wallet. zk.money uses zero-knowledge proofs to keep those details off the public record while still proving each payment is valid, The Block reported.
Users can access it through the web or run it locally on their own computer.
Each transfer must stay under $2,500. Limits like this are a common way for privacy tools to reduce the risk of being used to move large sums of illicit money, a concern that has put privacy projects under heavy regulatory pressure in the past.
The original zk.money launched in 2021 and closed in 2023. In that time it attracted more than 75,000 unique wallets and processed over $100 million in volume. Aztec shut it down to focus on building its own network, which the wallet now runs on.
Privacy is becoming one of Ethereum's biggest themes. Vitalik Buterin recently put stronger privacy at the heart of his 2030 vision for the network. zk.money's return is a practical example of that future: everyday payments that aren't broadcast to the whole world.
Watch for the mobile app, planned for Q4, and for DeFi integrations that would let private funds do more than simple transfers.
This article is for information only and is not financial advice.