Aztec Labs Revives zk.money with Private Payments on Ethereum
Aztec Labs has relaunched zk.money as a private, self-custodial wallet on Ethereum, three years after its original launch. The new version offers private payments and handles, allowing users to send and receive funds without revealing their identity or balance on the public ledger.
The wallet uses Aztec Network's privacy-focused technology, which doesn't publish users' balances, payment amounts, or counterparties on a public ledger. However, deposits from Ethereum are still publicly traceable and show the sender and amount.
The relaunch comes with some limitations, including transaction caps of $2,500 per deposit, payment, and withdrawal, as well as a shared daily deposit allowance of $50,000 that replenishes over time. Users can also claim handles such as 'bob.zk.money' instead of copying long Ethereum addresses.
Aztec Labs plans to raise the transaction caps as confidence in the system grows, but for now, users must be cautious when using zk.money.