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Privacy: The Future's Most Core "Moat" of Cryptocurrency【Plain Language Guide】Will privacy be the ultimate moat for cryptocurrencies? A16Z partner Ali Yahya pointed out in an interview that as performance gradually becomes commoditized, the "lock-in effect" brought by privacy will reshape the competitive landscape. Since the risk of migrating secrets is much higher than that of assets, privacy chains will generate strong network effects, leading to a few winners taking all. This is an inevitable path for finance to go mainstream and a necessity in the AI era. For more details, please see: