Aztec Network announced the launch of Alpha Network, offering the first Ethereum Layer 2 with a complete execution environment for private smart contracts.
This upgrade was based on a unanimous community governance vote and builds on Ignition Chain, which went live in November 2025 as a coordination layer for decentralized sequencing and block generation.
$AZTEC According to CoinGecko, the stock is up 5% in the past 24 hours and is trading at a valuation of about $200 million.
Aztec’s approach integrates privacy across three layers: data, identity, and compute. Private data enables sensitive transactions, payments, and RWA transfers. Private identity enables selective disclosure for compliance and agency reporting. Private computing hides on-chain actions and opens the door to private DeFi and gaming applications.
Contracts are written in Noir, Aztec’s Rust-like programming language. The private logic runs client-side and generates zero-knowledge proofs on the user’s device using the project’s CHONK proof system built specifically for phones and browsers. The proof is sent to the sequencer, which verifies the data without seeing it, and a complete batch is settled on Ethereum approximately every 12 seconds.
The project, which launched its public testnet in May 2025 after eight years of development, touts Alpha as the culmination of parallel work across the execution layer, proof of system, programming language, and decentralized stack.
Known vulnerabilities
This release comes with important caveats. Aztec disclosed on March 27 that there is a critical vulnerability in its current Alpha v4 code that could impact its attestation system and allow the theft of user funds. This patch will be included in the v5 release scheduled for July 2026.
The team warned that Alpha is experimental software and urged users not to deposit more than they can afford to lose.
The project has raised more than $178 million in total funding, including $100 million in Series B led by a16z, with support from Paradigm and Vitalik Buterin. of $AZTEC The token was launched in February following a $61 million community sale conducted through Uniswap’s continuous liquidation auction in December.
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