The part that made me stop was realizing that privacy on Dusk isn’t really about making everything invisible. $DUSK , #dusk @Dusk takes a more nuanced route: some activity can stay transparent, while sensitive financial activity can be shielded.
Looking into the architecture, Moonlight keeps the account state public, so balances and transaction details can be checked directly. Phoenix takes the opposite approach for obfuscated transactions: the network verifies a ZK proof instead of directly seeing the underlying transaction data.
That changed my initial assumption a bit. I was thinking the privacy side would mostly be about hiding financial information. It’s actually more interesting than that. The network still needs to prove ownership, preserve balance integrity and prevent double spending just without necessarily exposing the information used to prove those things.
And that’s probably the harder problem for financial markets: not choosing between transparency and privacy, but deciding what should be visible, to whom, and under what conditions. I’m still wondering how that balance behaves once real regulated financial activity starts putting pressure on both sides.
Looking into the architecture, Moonlight keeps the account state public, so balances and transaction details can be checked directly. Phoenix takes the opposite approach for obfuscated transactions: the network verifies a ZK proof instead of directly seeing the underlying transaction data.
That changed my initial assumption a bit. I was thinking the privacy side would mostly be about hiding financial information. It’s actually more interesting than that. The network still needs to prove ownership, preserve balance integrity and prevent double spending just without necessarily exposing the information used to prove those things.
And that’s probably the harder problem for financial markets: not choosing between transparency and privacy, but deciding what should be visible, to whom, and under what conditions. I’m still wondering how that balance behaves once real regulated financial activity starts putting pressure on both sides.