Users interested in making transactions can utilize easy-to-read usernames or payment links instead of cumbersome wallet addresses. However, it’s important to note that the initial Ethereum deposit into the zk.money system lacks full privacy. Both the user’s Ethereum address and the deposited amount will remain visible on the public blockchain. Privacy features will activate only once the assets are transferred into the Aztec network.
Throughout the Alpha testing phase, all deposits, payments, and withdrawals will be limited to transactions under $2,500. Each user will have a daily deposit ceiling of $50,000. According to Aztec Labs, they intend to increase these thresholds as the platform develops and user trust grows.
There will be an additional fee of 35 cents for deposits, along with the Ethereum network fee, while withdrawals will have a 20-cent cost. Each user can make up to 100 sponsored transactions daily on the network. Furthermore, Ethereum deposit and withdrawal addresses will undergo verification against sanctions lists.
Aztec’s documentation clearly notes that the software has not received comprehensive review and may include significant vulnerabilities. A critical issue was found in the V5 proof-of-work system in August, and it was announced that a resolution will be addressed in the upcoming V6 release. The launch of zk.money prior to implementing this fix presents a technical risk for users who get involved early.
The earlier version of zk.money supported over 75,000 wallets and facilitated more than $100 million in transactions before it was discontinued.
*This should not be considered investment advice.