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The Sword of Damocles in the Blockchain Industry: Privacy and Regulation

2022-09-22 08:45:12Golden finance

Why the privacy track has always been favored by top VCs?Count development and prospects.

原文标题:《The Sword of Damocles in Blockchain:Privacy and Regulation

撰文:Jimmy Qi、Stefanie Wei

编译:RangerBTC

摘要

过去几年,The development of the privacy track has gone through about three stages,包括 2014–2017 In the privacy of currency broke out,2017–2020 的隐私计算,2021 Year-to-date privacy transaction network has gained a lot of capital,即使如此,The privacy track has never really become the mainstream track for blockchain development.

The article summarizes the development of the blockchain privacy track and the value of privacy,Privacy as just need,With the development of chain block industry will become increasingly important.The article divides into the privacy track the three kinds of:隐私币、Privacy application platform and privacy.Starting from the three kinds of,Analyzed the principles of various privacy protection technologies、优缺点、On behalf of the project, etc.

目前,Privacy track is still in very early.随着最近 Tornado Cash 被制裁,More on privacy and regulatory issues widely discussed.This paper studies the countries to block industry chain and the regulation of the privacy track attitude and policy,Although no bills related to the blockchain privacy track have been introduced,However, traditional data privacy protection laws and regulations and anti-money laundering solutions are still applicable to the blockchain privacy track.In the privacy agreement review sex,Can be regulated privacy agreement is a new privacy protection project of consensus,Will also be a development direction.

In terms of the application of privacy,Transaction privacy and on-chain data privacy are the main directions at present,Especially in the resistance MEV And the company large asset protection.In the future with the development of new application scenarios,比如 DID 和社交,As well as the traditional institutions into the block chain,It will usher in a flashpoint that belongs to the privacy track.

1. When we talk about privacy,我们在谈论什么

Privacy is mainly in the broadest sense of the two:

(1)实现匿名性;(2)实现隐私性.

Anonymity is over the identity of the users are not visible,Privacy is about user behavior、Activities such as data information is not visible.

在信息时代,All our information and actions are presented in the form of digital carriers,Compared with the era of print media influence,The Internet is now capable of spreading in an extremely fast manner,At the same time any one storage system of digital information once connected to the Internet,become a possible target for all hackers in the world,我们“无处可藏”.Especially sensitive information on financial and personal health,Data privacy and security are more important.

1.1 Privacy and the development of the base block chain

自比特币诞生以来,Decentralization has always been the most basic blockchain attribute,Its underlying distributed ledger can effectively、Record on-chain data and transactions in a verifiable and permanent way,Implements the data on the chain permanent storage,Do not tamper with and transparent.The user can address identified by public key,This ensures the anonymity of users on the chain to a certain extent,But with the gradual development of application,All kinds of chain analysis tools appear,Makes the address on the chain unable to guarantee the privacy of personal information,At the same time, the transparent characteristics of the blockchain also allow users' transaction data、Activities can be anyone in the chain of view,用户敏感信息有可能被轻易获取,Such as a large number of trade is a whale mingpai sniper,Users in the block chain world naked reality.

Privacy is an early track in the blockchain world.First appeared in privacy track 2013 年,Nicolas van Saberhagen 发表了“CryptoNote”协议,Monroe currency on the basis of the in 2014 年诞生,Since then, a variety of privacy coins based on different anonymous technologies for anonymous transactions on the chain were born..With the improvement of the programmability and scalability of the public chain,Other private data of users also need to be protected,Privacy calculation project application and,如 Oasis network,Phala network,Platon network 等.此外,A lot of privacy trading based project in male chain level 2021 年开始出现.Compared with the other track,Privacy plate overall development is relatively slow,But look from institutions financing situation,But the track has been top VC 的青睐.据笔者不完全统计,自 2021 年以来,The total financing of public chain-level projects related to private transactions has exceeded 6 亿美元 (图 1).

1.2 The value of privacy embodies

在当下的信息时代,Privacy and data protection has become one of the most frequently discussed and concerned issues,Privacy is considered to be a fundamental human right,And data protection has also been legislated in many countries.,From the aspect of law protect the basic rights.Data privacy if leaked or abuse,may cause harm to the user's personal and property.

然而,On the one hand, users now expect personal data to be protected,On the other hand, it turns a blind eye to the leakage of private data.We are currently using many popular social software,如推特,whatsapp 等,These social software actually has been access to our personal data or sell data by hackers,But we didn't give up the use of social media because of this,Many large data leak,The users of related social media have not decreased because of this.The main reason is the monopoly of these social media,Not enough, and user recognized the value of their own data.在 Web3 领域,Most of the knowledge are new,And the privacy-related data involved is different,Fewer users are aware of data protection.

Privacy, albeit a very important and long-standing area,But in fact, it is not paid enough attention by users.,Cost for small and medium-sized customers,If not enough low,They would rather sacrifice privacy.而实际上,Privacy should not be the cost to consider,But should be a platform specific attribute.This as we often use mobile phone,随着移动互联网、手机银行、The development of network shopping,The privacy protection function of mobile phones has also become one of the selling points.总之,The importance of privacy and value embodied in the Web2 Areas still have a lot of difference.

2. Privacy protection technology and Web3 的融合

The content of the multiple sub-tracks of the privacy track is very different,There is no a clear classification,In this paper can be divided into 3 大类,Including privacy c、Privacy platform and application of three types of privacy.

2.1 隐私币

Privacy coins refer to cryptocurrencies that natively support anonymous transfers,Confidentiality for privacy includes the sender of the transaction、接收者、交易金额和交易 IP 等信息.This information cannot be viewed through the blockchain browser,The chain is not visible,Only visible to both parties to the transaction or third parties designated by the participants.

The characteristics of privacy currency have:(1)通常不支持智能合约及相关应用,Only transaction transfer function;(2)Such currencies concentration was born in 2014 年到 2017 年,Project development is relatively mature and rich.较为知名的隐私币包括 Monero、 Zcash、DASH、Litecoin、MobileCoin、Horizen、Verge、Decred、Firo、BEAM 与 Grin 等.(3)Privacy currency now common development in general,Trading volume significantly less than most male chain、DeFi 等赛道项目(图 2,数据来源于 Coingecko 2022 年 9 月 7 日交易量).

Privacy coins use multiple technologies to enable anonymous transactions,主要包括以下四类,Such as Monroe COINS hidden address + 环签名,Dash Select mechanism of mixed COINS CoinJoin,Grin 与 BEAM 采用 Mimblewimble 技术,Zcash、Tornado Cash 与 ZEN Adopts zero knowledge proof, etc.The technical characteristics of privacy coins are shown in the following table.(表一).

门罗币 XMR Is the most emerging and the most representative privacy coin,It USES a fight ASIC 的 PoW 共识算法,And use the hidden address + The combination of ring signature to realize privacy protection.Implicit address is one-time,Whenever a deal,Will be randomly generated a new、With burn after receiving address.To protect the privacy of the payee.Ring signature technology is using its private key of the sender and the group of all the people in the public key,对交易进行签名.这样,The transaction may come from any one of the participating signers,To protect the privacy of the sender.

Monero's current cryptocurrency ranking and trading volume have been on a downward trend,The current Monroe currency value ranking the first 29 位,Daily turnover in 5 千万到 1 亿美金.近日,Monroe currency's largest mineral pool MineXMR 已于 8 月 12 日关闭.MineXMR 控制 44% Monroe coin is force,Its closure may also cause Monero to suffer 51% 的攻击.

严格来说,Privacy coins fulfill only the first need for privacy,The anonymity.Due to privacy currency no intelligent contract,This is the main reason for the limit its development.对于普通用户来说,Privacy currency without a lot of application scenarios,And regular trading information privacy and don't have much value.除此之外,Some of the privacy currency poor user experience,There is often insufficient liquidity in the mixing pool.Users with real needs should be institutions,而对于它们来说,Privacy currency function of oneness is unable to meet their demand chain interaction,比如 NFT 购买、借贷、社交等,So there is a need for a privacy platform.

2.2 Privacy platform

Privacy platform projects are mainly privacy public chains,These projects are in the early stage of ecological development and their valuations are high.Whether privacy calculation or privacy deal,They are the privacy protection technology is based on zero knowledge proof、多方安全计算(MPC)、同态加密(HE)以及可信执行环境(TEE)等技术.其中,ZK、MPC 和 HE Is based on the privacy of cryptography technology,TEE Is based on the hardware design.The privacy public chain supports private smart contracts on the underlying architecture,But native tokens is not privacy c.

Privacy computing refers to the produce from the data、收集、保存、分析、利用、销毁等环节对隐私进行保护,在保证数据提供方不泄露原始数据的前提下,让数据“可用不可见”Under different subjects sharing circulation,To meet data privacy compliance regulation and to prevent leakage.In addition to the application achievements of block chain,大数据、金融、医药与 AI Industries have been widely used privacy calculation.Privacy computing platform including Oasis Network、PlatON.

Privacy transactions are mainly for applications and transaction data on the chain(持有或交易的币种类型与数量)进行隐私化处理,通过零知识证明等技术原生支持用户进行隐私交易,Ensure that the user's private data will not be viewed by the outside world.2021 年以来,Many private transaction-related blockchain networks emerge and gain support from mainstream investment institutions,Is one of the most popular with the capital market of the track.Representative projects include privacy trading platform Secret Network 以及以太坊 2 层协议 Aztec Network 等.

Privacy platform to establish Web3 The common demand for privacy and more chain.首先,The privacy public chain platform provides an environment for deploying privacy smart contracts,Enrich the various applications based on privacy;其次,Provides interoperability of may,Let the privacy chain ecology and the non-privacy chain ecology blend.

2.3 Three big privacy technology and its use cases

2.3.1 零知识证明

ZKP The purpose of the technology is that the prover does not need to provide direct information to the verifier,but can convince the verifier that a certain result is correct.At present in the encryption industry,ZKP Technology widely used in the etheric fang Layer2 The expansion of solutions.ZK Rollup of operators collect transaction information and compress it into a ZK 证明,To the etheric fang provids on,As the effectiveness of the proposed deal to prove.This short proof takes up very little storage space,所以 ZK Rollup Is considered to be the most promising success Layer2 方案.ZK Prove that includes both parties、时间、资产等信息,But the information in the certificate is private,No trust mechanism has natural.所以,ZK The value of technology beyond the scaling of Ethereum,还有隐私计算.There are three applications of zero-knowledge proof technology in the field of encryption:zkSNARK、zkSTAR 和 Bulletproof.

2.3.2 安全多方计算

Secure multi-party computation is by yao period in 1982 年首次提出,The technology is mainly to solve problem is,How to design a function without a trusted third party,It allows multiple parties to safely get the output without revealing any information.How the between participants in each of the data to the data of each participant to protect and ensure correct.这可以通过“Millionaires problem”来解释(图 3).Alice、Bob 和 Sam Need to tell the agreement its assets,And then through a function,Will direct told the result,Without any party details.

The protocol in secure multi-party computation needs to ensure that:1.Absolute privacy,No information other than the result can be known by any of the parties involved;2.正确性,The protocol guarantees the correctness of the output results to the participants;3.Input information independent of each other,In order to prevent some participants do evil;4.Ensure that the output transmission to the participants.从以上可以看出,MPC Need is a big amount of computation and communication,The high cost and consume large amounts of bandwidth,随着参与方的增加,To further improve consumption also.所以,Operation efficiency and communication is MPC 发展的瓶颈.

2.3.3 可信执行环境

The privacy protection technology based on cryptography is too dependent on a large number of complicated calculations,因此存在性能瓶颈.Another type of privacy-preserving technology is the Trusted Execution Environment,It is based on hardware security CPU The safety of the implementation is based on memory isolation calculation.TEE The basic idea is to allocate a separate block of isolated memory in hardware for sensitive data,所有敏感数据的计算均在这块内存中进行,In addition to accept authorization interface,Information in this isolated memory cannot be accessed by other parts of the hardware.TEE Is already a massive USES the stage,For example, the mobile fingerprint and face recognition.

The above three privacy protection technologies are the most widely used technologies in the blockchain field.,Homomorphic encryption is still in the theoretical development stage.ZKP 和 MPC Able to be provably safe through mathematically difficult assumptions,可信度极高,但也正因如此,Increased security also leads to higher computational and communication complexity,Limits on the availability.TEE Technology includes both the cryptography based,And is a combination of hardware and system security,To avoid the additional communication and computing cost.其缺点也在于其安全性很大程度上依赖于硬件实现,The hardware and software need to update the update.并且,各个厂商的 TEE 技术不同,The safety standard also not too clear.

2.3.4 Privacy technology use case

Oasis Network Is the chain the privacy of network level,采用 Intel SGX Provide a trusted execution environment(TEE, Trusted Execution Environment),这在 avalanche bridge Adopted this technology in.ParaTime Layer is intelligent contract execution layer,Privacy protection and intelligent contract EVM 兼容.Oasis Network Currently has a complete ecosystem,There are many layouts in privacy computing and public chain ecology (图 4).

Secret Network 是基于 Cosmos The representation of the ecological network privacy trading,于 2020 年 9 月启动主网,It is the earliest blockchain platform that supports programmable smart contracts for private transactions by default..在数据隐私方面,The three key technologies:密钥管理、加密协议、TEE.All validator hardware and software must support these technologies,But no one including the nodes can access the original information.

Secret Network Smart contracts are private by default,输入、Output and encrypted data state all.It is through the trusted execution environment (TEE) 确保交易数据在执行期间保持安全和私密,The outside world can only view the time information of the transaction through the block browser,And the specific transaction information cannot be obtained,即使对验证者也是如此,除非用户通过 viewing key Granted data access,Others won't be able to see.This ensures that users have full control over their private on-chain data,同时利用 viewing key Relevant transaction data can also be shared in tax returns and other channels.

目前,The male chain already have preliminary chain on ecological,包括跨链桥 Secret Bridge、隐私 DeFi 协议、隐私交易协议、The currency privacy agreement,Opensea 的链上 NFT Anonymous transactions such as application(图 5).

Aztec Network 是基于 zk-Rollup 的隐私技术 Plonk 建立在 Layer 2 The privacy of trading platform,主网于 2020 年 11 月上线.Aztec Network The main applications include zk.money 与 Aztec Connect,同时 Azteck Can also be used as a privacy middleware integration 2 层应用,The protection of the trade data.zk.money 是 Layer2 的隐私支付应用,The etheric fang can use it to send and receive anonymous users 2 Layer of assets.Aztec Connect 是 Layer2 Privacy across the chain bridge,Allows users to anonymously communicate with the Ethereum chain DeFi 应用交互.此外,Aztec As privacy middleware,已经与多个 Layer2 应用集成,如 Aave、Lido、Compound 与 Element Finance 等.

Privacy platform technology development is difficult,The fundamental reason is that in the current situation of fierce competition in the public chain,All aspects of the implementation chain privacy,Even at the same time to ensure that the chain itself high performance.主要体现在:1.The research and development of the above three technologies in the field of blockchain have certain limitations,The underlying virtual machine needs to be developed to implement smart contracts;2.在多链格局下,Compatibility and interoperability with other platforms also need to be considered by developers;3.All activities need privacy in the chain of calculation,May increase the cost.

目前,The privacy and security technology of each project is in the early stage of development,We can continue to focus on the following aspects of these projects:(1)Does the cost of privacy computing fit with the economic model?;(2)Privacy technology friendly to ecological developers whether;(3)Are there unique ecological applications that combine privacy,尤其是 DeFi、NFTfi、social 领域;(4)If flexible interoperability with other platforms.

2.4 隐私应用

Privacy application in this article refers to the established in Layer1 或 Layer2 协议之上,为用户或 DApp Applications that provide privacy protection functions for different application scenarios and anonymous transaction applications on the chain,例如通信、邮件、Advertising data privacy protection and currency mixing protocol, etc..Many such projects,代表性的项目有 Status,Dmail 与 Tornado cash 等.

Status Is an open source of decentralized communication platform,在 devP2P Technology built Whisper,and provides privacy-preserving routing and messaging,Finally realize end-to-end user communication encryption and email encryption.Dmail 是一个建立在 Difinity Male chain based on Web 3.0 的邮件系统,Set to centralized identity authentication,通信、资产管理、Data storage, and other functions in one,通过 Difinity Measurable random function and chain,Non-interactive threshold signatures, etc. jointly achieve data privacy.

Tornado Cash 是基于零知识证明在以太坊上实现的隐私交易应用,It is also the most well-known Ethereum mixer.,It can be hidden send address.用户可以将 ETH In the intelligent contract,Then through vouchers withdrawn,The documents did not disclose the initial address.而实际上,This anonymous or have some limitations.

这体现在三个方面:(1)In the process of users in different,Still need to use the network layer,This Internet service providers (isps)(ISP)It is still possible to record the timestamp when the message was sent,And that is associated with other things,It can use the network agent solution;(2)If different time interval is too short,Could lead to a trade association;(3)Users need to be paid when withdrawals gas,This charge may expose information,It can use repeater network address.由于 Tornado Cash Let the north Korean hackers organization Lazarus Group With its massive money laundering,At the same time help the illegal activities of money laundering,对美国国家安全构成了威胁.Tornado Cash Last month by the United States OFAC Sanctions and freezing 4.37 亿美元的链上资产.

2.5 Privacy development problem of the current track

2.5.1 Privacy project for ordinary users less attractive

Ordinary users to individual privacy consciousness,可能在 Web2 In the field, we can personally feel the harm of privacy being leaked,骚扰电话、广告推送等.But in the chain of blocks in the world,We are chain address「匿名性」欺骗,And with the enrichment of ecological application、The continuous improvement of the data analysis tools,我们的「数字身份」Will be nowhere to hide.

Privacy is now developing track slower,Also relevant to the early stages of the blockchain industry.Less privacy platform ecological,Most people will not use a single-function privacy coin to ensure the anonymity of the transfer,Even if want to guarantee anonymity,Most users will choose the etheric fang ecological coin mixers for anonymous transfer(目前 Tornado Cash 已经不能使用),So as to realize the user a variety of assets anonymous.This low willingness to use prevents the adoption of privacy coins from increasing.

2.5.2 Privacy trading is a target for regulators to investigate

The use of similar to privacy COINS,Really facilitates blockchain network hackers,Let them into the CEX 之前,Can safely hidden sources of funding.Private transactions will involve the untraceability of the receipt and sending of assets.,This will inevitably lead to some transactions on the chain involving money laundering and illegal activities,The regulation of private transactions has not stopped.From the early privacy COINS into the etheric fang mixed COINS Tornado Cash,All have experience of being sanctioned and delisted from exchanges.This unstable regulatory policy has also led to slow user growth and ecological development of private transaction projects.

3. Privacy and regulatory

3.1 National regulatory trends

Privacy track since Monroe currency was born,The trend of the regulation is strictly there has always been the tendency,The main reason is that most projects on the privacy track will involve the anonymity of on-chain transactions,Making the regulation more difficult,Money laundering is rampant and illegal activities.

近年来,State-level scrutiny of privacy coins is growing,Some countries to privacy project supervision,Has been in a high-pressure situation,Such as Japan and South Korea.日本早在 2018 年 6 The cryptocurrency exchange association self-discipline plan was introduced in January to prohibit the trading of anonymous currencies.随后在 2018 年 11 月,Japan's Financial Services Agency unveils new standards for cryptocurrency exchanges,Among them, there is a clear ban on cryptocurrencies that have high anonymity and are easily used for money laundering..Two years later than Japan South Korea,在 2021 年 11 月,发布针对《特定金融信息法》The implementation of the legislative amendments to legislation forecast.According to the rules for its implementation,Virtual Asset Service Providers Will Ban the Trading of Anonymous Coins,Prohibition of dealing with virtual assets with money laundering risk,This also means that all anonymous currency assets will be withdrawn from South Korea.

In addition to national privacy,Some pursue perfection of privacy c,For example, Monero has also been strengthened by many countries and delisted by many exchanges..早在 2018 年,The U.S. Department of Homeland Security plans to design a new system to monitor anonymous cryptocurrencies,The key monitoring Monroe COINS and Zcash Such as anonymity strong encryption money.在 2020 年,The IRS even offered a high bounty to crack Monero.门罗币在 2018–2020 More than in Japan and South Korea exchange was pulled from the shelves,在 2021 年与 2022 Years were also Bittrex 与 Kraken The shelves.

Privacy privacy track trading application Tornado Cash 也在 2022 年 8 Month directly by the Treasury Department OFAC 制裁,Although this is not the first time a privacy transaction app has been sanctioned,But its influence big,It also reminds us that some new changes in privacy regulation are coming.Both the privacy transaction platform and the privacy transaction application can realize the privacy transaction of the application on the chain,This is different from privacy coins that can only achieve anonymous transfers,It can achieve anonymity from transactions to transfers and more,It also put forward more challenges for privacy.

在国际层面,FATF(反洗钱金融行动特别工作组)Will coordinate each country fighting crime,其中 FATF Travel Rule Has become the currency monetary assets and encryption service providers need to abide by the rules.根据 Travel Rule 的要求,Or as long as have the relevant logic,Mechanism of technology or affect the transmitting and receiving party as to the identity of the judgment, Privacy can be judged to be c,Should be anti-money laundering financial regulatory.

在 Tornado Cash Sanctions were before,美国证券交易委员会(SEC)Figure has been appeared in the world of the encryption,SEC Regulate companies offering digital currency sales without proper authorization,Regulation and Litigation of Tokens and Fraudulent Practices Violating U.S. Securities Laws.SEC The big stick of supervision has caused many encryption projects to suffer..例如 Telegram 与 XRP.In the privacy track,Government regulation is also strengthen.It's not just a privacy track or a regulatory issue involving illicit transactions,But the whole industry needs to be normative guide.

3.2 Privacy agreement review sex to explore

As the biggest encryption field of mixed COINS Tornado Cash Suspected of money laundering and illegal activities on the chain by the United States OFAC 制裁,Triggered a series of chain reactions in the entire currency circle,Both centralized companies and decentralized on-chain protocols have discussed and taken compliance-related measures,大量的 DeFi Deal with a centralized exchange to ban the first time Tornado Cash Related to address the front end of the interaction and exchange,如 Uniswap,AAVE, Kraken With the currency exchange Ann, etc.Circle Also froze in the first time Tornado Cash The related address USDC.And some large projects are beginning to worry about the harm of censorship to their development,Discuss the more is to turn PoS After the etheric fang and MakerDAO.The etheric fang core developers in 2022 年 8 月 18 Strategies for responding to state-level regulatory scrutiny were discussed in detail in a developer conference call.Most developers believe that complete decentralization and unregulation is the future of Ethereum,V God also said that if the censorship agency conducts censorship on Ethereum nodes through node service providers in the United States,Will it as to ETH 的攻击.

MakerDAO 创始人 Rune Christensen More radical is presented,鉴于 Circle 冻结 USDC The action is likely to be MakerDAO Collateral caused great harm,提议 DAI 不再与 USD 挂钩,Be free floating stability c,This calls for a while received a great response,But most people are afraid of volatility to float DAI Caused by the instability and against the proposal.

Whether the protocol or project should be censorship resistant,The author believes that the concept of censorship needs to be clarified first.Regulators are not asking all transaction information,But the legitimacy of the review transactions.Censorship is trading,而非身份.Transaction can be audited,To investigate any wrongdoing in.But whether the review will affect the normal operation of the project,This requires the project party to provide censorship at the same time,Can keep absolute decentralized again,避免单点问题.For privacy project developers,The focus of the review sex became the consider:Is choice mechanism is established beforehand regulated,Or use encryption technology against regulatory.

目前,There are some projects can provide restrictive privacy data acquisition,We have organized some privacy items here.

We found from the sorting table,There are currently fewer privacy protection protocol projects that can cater to regulation.据不完全统计,Privacy track project has more than hundred,However, there are only about ten companies that have made transaction data acquisition plans for compliance.(Including anonymous transfer optional privacy c).Most privacy protection agreements do not provide compliance solutions from the perspective of the agreement itself,But the rights of data disclosure to users,Users choose whether to use for auditing and information disclosure,This also seems to be the consensus that the new privacy protection agreement caters to regulation.This solution may become the mainstream of privacy track compliance and anti-money laundering.

The author believes that censorship resistance and anonymity are not inherent properties of blockchain technology,Decentralization is the most basic feature of blockchain,The additional financial attributes of on-chain governance brought about by decentralization will inevitably lead to the regulation of the entire blockchain industry..There is a certain contradiction between the transparency of data on the chain brought about by decentralization and the privacy protection of data required in reality,How to achieve privacy protection while catering to regulation will be a problem to be solved in the future development of blockchain technology.

4. Privacy in the chain of the future development of

在区块链行业,Privacy application scenario for the two main large:(1)交易隐私,Including personal or enterprise's secret transfer、暗网交易等.This part of the demand is mainly composed of privacy currency meet,But as a result of the future there may be a strong regulatory,All items and technical barriers is not strong,竞争压力大,I don't think that the development of a piece of;(2)Chain on the privacy of data,Especially necessary for enterprises and large households,Privacy can prevent being short or run,Especially in the bear market,The finances of agencies and agreements are fully exposed to public scrutiny.具体来说,Privacy can be achieved in the chain of:

(1)抗 MEV

Sandwich attacks are tricky for big players and institutions,In the platform for privacy,All transactions will be hidden,Not visible to miners and arbitrage robot,Truly the resistance MEV.

(2)资产保护

Hold blue-chip NFT And large asset orca digital users don't want the chain interaction are analyzed.另一方面,Whale is also worried about the targeted by hackers,And was targeted phishing attacks.

(3)Interaction in the chain of protection

The future development of application scenarios,For example, community governance to vote、社交、Unsecured borrowing, etc,Requires no identification details,参与交互.Using the privacy technology,就能实现,Is the future direction of great potential for development.

As the traditional institutions to join chain block industry,以及链上 DID The outbreak of the application and social,It will usher in a flashpoint that belongs to the privacy track.而在此之前,We can keep an eye on the development of this track.而作为开发者,You don't need to spend too much time considering whether to resist censorship,Privacy project just need not only to“洗钱”,The privacy track also has greater room for development and imagination.

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