Today I went to the convenience store to buy cigarettes and paid with a card.
The POS machine beeped and displayed "Transaction Successful," and the cashier handed me the receipt and the ticket.
Throughout the process, the cashier had no idea how much balance I had on my card, nor did she know where my last purchase was made. She only needed the system to confirm one thing: that this bill of several dozen yuan was settled.
The most mundane business logic in the real world has become an insurmountable obstacle in today’s Web3 public chains.
Ethereum’s fully transparent chain is like going to buy a pack of cigarettes, but the loudspeaker at the checkout counter broadcasts your wallet balance and transaction history to the entire supermarket.
Retail investors don’t care; they even think transparency equals security. But for traditional businesses, this is a disaster. This is also why I have been repeatedly reviewing the architecture design of @MidnightNetwork recently.
Many so-called privacy chains merely add a mixer or a diversion at the front end. But Midnight’s underlying logic separates "validity verification" from "public data" using ZK-SNARKs thoroughly.
When you sign a supply chain contract on the chain or conduct a significant asset confirmation, the network nodes can still package and verify that this transaction is legal and compliant, but they cannot see the amount, the counterparty, or the commercial details.
Verification of proof, not verification of raw data.
Having been in this circle for a long time, everyone gets brainwashed by the political correctness of "full chain transparency."
But the fact is that institutions on Wall Street and traditional entities will never be able to expose their commercial bottom lines and client lists in public waters.
If the bull market of the past few years was propped up by the high yields of DeFi’s Ponzi scheme, then in the next cycle, the one that can truly accommodate real assets at the trillion-dollar level must be a compliant privacy chain equipped with this "anti-theft door."
Of course, the vision is beautiful. To fit this complex asymmetric encryption logic into the existing developer ecosystem and still run smoothly is extremely challenging.
Is #night ultimately a geek utopia or a basic infrastructure desperately needed by old money entering the scene?
Don’t listen to how the white paper brags; once the mainnet is launched, go on-chain and see the real number of commercial contracts running, and the answer will naturally emerge. $NIGHT
The POS machine beeped and displayed "Transaction Successful," and the cashier handed me the receipt and the ticket.
Throughout the process, the cashier had no idea how much balance I had on my card, nor did she know where my last purchase was made. She only needed the system to confirm one thing: that this bill of several dozen yuan was settled.
The most mundane business logic in the real world has become an insurmountable obstacle in today’s Web3 public chains.
Ethereum’s fully transparent chain is like going to buy a pack of cigarettes, but the loudspeaker at the checkout counter broadcasts your wallet balance and transaction history to the entire supermarket.
Retail investors don’t care; they even think transparency equals security. But for traditional businesses, this is a disaster. This is also why I have been repeatedly reviewing the architecture design of @MidnightNetwork recently.
Many so-called privacy chains merely add a mixer or a diversion at the front end. But Midnight’s underlying logic separates "validity verification" from "public data" using ZK-SNARKs thoroughly.
When you sign a supply chain contract on the chain or conduct a significant asset confirmation, the network nodes can still package and verify that this transaction is legal and compliant, but they cannot see the amount, the counterparty, or the commercial details.
Verification of proof, not verification of raw data.
Having been in this circle for a long time, everyone gets brainwashed by the political correctness of "full chain transparency."
But the fact is that institutions on Wall Street and traditional entities will never be able to expose their commercial bottom lines and client lists in public waters.
If the bull market of the past few years was propped up by the high yields of DeFi’s Ponzi scheme, then in the next cycle, the one that can truly accommodate real assets at the trillion-dollar level must be a compliant privacy chain equipped with this "anti-theft door."
Of course, the vision is beautiful. To fit this complex asymmetric encryption logic into the existing developer ecosystem and still run smoothly is extremely challenging.
Is #night ultimately a geek utopia or a basic infrastructure desperately needed by old money entering the scene?
Don’t listen to how the white paper brags; once the mainnet is launched, go on-chain and see the real number of commercial contracts running, and the answer will naturally emerge. $NIGHT
