Don't take "naked running on the chain" as transparency, let's talk about $NIGHT 's dual currency model.
Brothers, let's speak plainly, the "transparency" that major public chains are boasting about is actually a public execution across the network. If you make a move with your wallet, your financial cards and network connections are fully exposed. Which legitimate company would dare to put its real business books out there naked?
So I've recently rewatched @MidnightNetwork, and it's not just for short-term trading, but because its mindset is quite realistic. It hasn't taken the extreme route of total black box, but instead has adopted “controllable privacy”: it can prove compliance to regulators without exposing its bottom line to the entire online audience.
What’s even more worth digging into is its $NIGHT and DUST dual currency model. Stop fixating on the coin price every day. Simply put, $NIGHT is the VIP ticket and governance rights of the network, while the real engine for privacy computation, the fuel, is DUST. Why is it set up this way? It’s to physically isolate the "intense fluctuations of coin price speculation" from the "actual costs for companies using the chain." For institutions, this is called “budget controllable,” which is the business logic that can be implemented.
But let's not get too ahead of ourselves. Currently, its federated nodes are just a type of engineering compromise, at most akin to a “meeting room with drawn curtains.” I’m not sure how far it can progress towards decentralization later on, but how will I verify this? First, look for evidence:
First, after the mainnet goes live, does DUST have real consumption scenarios?
Second, are the dApps running on the chain real commercial demands, or are they just a bunch of accounts from the wool party playing with each other?
In this circle, my principle is always: save your life before getting high. At this stage, it only deserves to be tested while walking; those who dare to mindlessly gamble on the current price, I suggest you go splash some cold water on your face to wake up a bit.