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Talking points:
First of all, credit where credit is due so shoutout to Hartmann Capital for their absolutely brilliant article on Optimizing DeFi Privacy because that was the article that really tipped me over the edge when it came to seeing this next wave coming.
They break down blockchain innovation into 3 generations
Gen 1 - Decentralised currencies and store of value
Gen 2 - Decentralised finance and apps
Gen 3 - Decentralised finance combined with optional privacy that affords the user ownership of their own data
So that right there is the key value proposition and the major reason why I believe users will flock to PriFi platforms in the future.
I say this because privacy and ownership of our own data online is a larger wave that is already underway, so we have a tail wind there.
All I see happening with PriFi is this already moving privacy wave combining with the DeFi wave for a very high probability outcome, which is all you can ask for in investing really.
So there have already been many attempts at crypto asset privacy and this landscape can be organised into 5 broad categories
Privacy Coins
Standalone Private DeFi
On-Chain Mixers
Layer 2 PriFi
Layer 1 PriFi
Some examples of projects in these categories
Privacy coins
Zcash (I’m not a fan, never have been)
Monero (the star)
Grin (performed very poorly)
Standalone Private DeFi
Secret Network (full smart contract platform)
Ethereum + Monero + Cosmos
Haven (private derivative assets)
On-Chain mixers
Not exactly bulletproof because privacy is low if the mixing pool is low and vice versa.
Layer 2 PriFi
Aztec Protocol (created EIP1724 confidential token standard but not fully decentralized).
An immediate privacy solution is to use an Ethereum bridge to deposit funds onto a different layer 2 address than the one you sent them on (although this isn’t foolproof either).
Layer 1 PriFi
Railgun and Offshift
Benefit from existing DeFi liquidity on smart contract blockchains like Ethereum
Railgun is also going to deploy on BSC and Polygon.
So which ones can you actually invest in?
Monero
Zcash
Grin
Secret Network
Haven Protocol
Offshift
Railgun
All have tokens you can actually buy right now. But don’t take this as investment or trading advice. This is a shortlist of assets to do further research on.
▶️ 3Speak