Over the years, the Ethereum network has slowly but surely grown into one of the most influential blockchain networks in the industry. Over the years, plenty of institutions have established their proprietary networks on the Ethereum blockchain, and that is one of the major reasons behind this blockchain network.
In a new development that will come as a major boost for ETH fans, it has emerged that Aztec has decided to establish its private network on Ethereum. The network in question is supposedly going to provide a cost-effective solution to those who want to keep their transactions private.
The company revealed the information in a blog post. The Chief Executive Officer of Aztec, Thomas Walton-Pocock, stated in the blog post that the new system will help users transact easily with private assets that are backed by ETH. He went on to state that initially, the network is going to be made compatible with dai; however, over the course of the next six weeks, support for other assets is also going to be added. However, that is not all. There have been other developments as well that could be seen as a positive by fans of the world’s second-biggest cryptocurrency.
Germany’s Waves, which is well known as an open-source blockchain platform, announced yesterday that it has an organization named Waves Association. The organization is a non-profit and is going to help in the governance of the entire Waves ecosystem.
>> Crypto Capital Co-Founder Rejects Plea Deal in Shadow Bank Case
Alexander Ivanonv, who is the founder of Waves, revealed that the Waves Association will result in a rise in the number of users as well as developers. Waves also plans to attract other crypto enthusiasts who are engaged in developing blockchain-based solutions. It should be noted that in 2019, Waves had revealed that it was going to develop the Gravity Hub interoperability protocol that was going to include the Ethereum network as well.
Featured image: DepositPhotos © ellandar
Joseph Spezzano received a Masters Degree in computer science from The University of Massachusetts. Joseph has been working as a full-time blockchain programmer for the past 5 years. In his spare time, Joseph enjoys writing for CryptocurrencyInvestments.com and traveling.