Piercing the Privacy Carnival: Midnight's Compliance Conspiracy and Real Cards
Brothers, the ZK privacy track has started to go haywire again. I stayed up late going through the underlying protocols and speaking plainly, the current market is full of public chains that claim to be 'absolutely hidden' but are essentially walking a tightrope. First, let's look at the evidence: do traditional old money and regular troops really dare to put large amounts of funds into a black box that can't even pass basic financial audits? Clearly not. Faced with stringent regulatory realities, this kind of technical fundamentalism is simply unable to close the commercial loop.
This is also why I've been closely watching Midnight recently. I tend to believe that its promoted 'selective disclosure' is the true antidote for the future. It does not pursue that absolute darknet vibe favored by the geek community; instead, it allows you to hardcore prove the compliance of funds to regulators while tightly concealing core business secrets. This sense of dancing with shackles is what truly enables compliance institutions to confidently deploy business in digital infrastructure.
Next, let’s look at its extremely cold-blooded dual-track economic model: holding the network's core asset $NIGHT will automatically generate DUST as fuel for running contracts. However, this DUST is set to be non-transferable and will naturally decay over time! This tactic is exceedingly cunning, directly strangling short-term speculators who want to speculate on gas fees from the underlying code, forcing hot money to convert into long-term ecological sediment.
I am not sure how long this ToB perspective logic will take to ignite a real market, but how will I verify it? I will closely monitor the real calling volume of the Compact contract after the mainnet goes live, as well as the fund inflow volume of institutional nodes, to see if there are real business demands supporting it. In short, while the game is the game, before seeing on-chain data, prioritize survival before getting ahead.
