But that link, rooted in skepticism of governments and big banks, showed signs of fraying this year as exchanges navigated a maturing industry and developers faced prosecution.

As a layer-1 network, Midnight uses zero-knowledge proofs to preserve metadata associated with users, businesses, and transactions. 

While it’s far different from the privacy tools the government has cracked down on, CEO Eran Barak said he’s observed a growing sense of unease among developers working on solutions that help preserve privacy on-chain.

“I think there’s definitely nervousness around the topic of privacy,” Barak told Decrypt. “People saw the hammer being thrown down on [industry] players.”

Privacy Projects

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Author: André Beganski