I spent a week deeply researching the landscape of crypto privacy technologies and discovered some exciting things. First, a data point: from 2015 to 2022, data breach incidents more than doubled. Users' anxiety about privacy has reached a critical point. In the crypto world, this issue is even more severe—the transparency of the blockchain, which was once a feature, has now become a bug. Why has privacy technology suddenly become so important? Because transparency limits too many application scenarios! Game developers want to create "fog of war," but on-chain data is fully transparent. DeFi wants to implement dark pool trading, but the order book is visible to everyone. Professional trading firms want to enter the market, but their strategies can be targeted by MEV bots. Traditional finance's dark pools accounted for 40% of stock trading volume in 2019, while crypto is still exposed... A real comparison of the four major technological routes I divided them into two...
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