Recently, the most lively thing on Twitter and in major communities has been watching the on chain actions of those "1011 insider addresses" or big spenders such as Yilihua. These addresses are placed under the spotlight, and every move they make will trigger a hot topic of discussion. It would be great if blockchain had native privacy features in the hearts of big shots. Come on, today let's talk about @ aztecnetwork, a privacy infrastructure project that has been invested $100 million in rounds by @ a16z: 1) Recently, Aztec's participation in Uniswap's new token issuance mechanism CCA (Continuous Clearing Auction) has also verified its ability to attract funds and attention. Simply put, Aztec is positioned as a Privacy first Layer2 network on Ethereum. It is not satisfied with just making a faster Ethereum, it wants to be the "SSL layer of the blockchain". It seems that the positioning of the Layer2 network will also be adjusted, and its ultimate direction is a specific chain that provides system privacy solutions. 2) So, what is the difference between Aztec's privacy plan and well-known ones such as @ Zcash and Tornado Cash? A key feature: Most early privacy projects took an extreme approach, either encrypting all information or mixing dark pools, thus carrying some regulatory risks. Aztec's logic is not to require all information to be invisible, but to create a hybrid state model that supports both "public state" and "private state" in a smart contract. It's like entering a high-end club where everyone in the lobby can see you drinking (public status), but only you and the cashier know your specific booth privacy and consumption bills (private status). This design allows DeFi protocols to maintain open and transparent liquidity (such as how much money is in the fund pool), while making users' positions and strategies visible only to themselves. 3) In terms of technical details, Aztec insists on a client authentication mechanism, which can be considered as its moat level feature. In other layer 2 technology frameworks, users initiate transactions, nodes execute them, and then prove that the execution is correct. But in Aztec's view, this is not safe enough. Aztec requires that the execution of transactions and the generation of ZK Proofs be completed directly on the user's own device (PXE environment). And provide carefully crafted Noir programming language and PLONK proof system to support it. In this way, sensitive data will not leave the user's phone or computer, which directly eliminates the possibility of data leakage from the perspective of physical isolation. 4) Why is it said that only when "privacy" has programmable properties, can many commercial imagination spaces be truly opened up? It's actually easy to understand: 1. Institutional DeFi: Wall Street giants can make large transactions on the chain without worrying about being targeted by hunters in the dark forest; 2. Compliant KYC: Users can prove to the agreement that they are eligible compliant investors without disclosing their original passport or residential address; 3. Asymmetric information games: Because it is not possible to play game scenes such as Texas Hold'em or War Mist in a fully transparent environment, which can help users expand their scale, the powerful privacy features can help promote the large-scale adoption of full chain games. The above. To be fair, Aztec is not a lone hero on the privacy track. There is a long way to go from the discovery of narrative prospects to the final application landing, as privacy technology often means higher computing costs and more complex interactive experiences. Fortunately, under the trend of "compliance", privacy services have also become a rigid infrastructure that caters to regulation and cannot be bypassed. But I think that the privacy track is a "noble game" born with a golden spoon, and the market pattern and form at the basic infra-red level have also basically taken shape. Next, it depends on who can truly make it to the finals and popularize a programmable, complex logic supported privacy operating system to the market.