Pro
Modular Chains

Decoding Onchain Privacy

Key Insights

  • Privacy is becoming modular and programmable, with middleware like Railgun and chains like Aztec enabling integrated and application-layer confidentiality across existing networks.
  • Regulatory pressure remains a key obstacle to onchain privacy, with privacy coins and mixers subject to sustained scrutiny and policy action.
  • Composability remains a core technical challenge, as privacy-focused blockchains often sacrifice interoperability, developer tooling, and UX in exchange for privacy.
  • Mainstream blockchains are embedding privacy at the base layer with Vitalik’s privacy roadmap on Ethereum and Solana’s Confidential Token Extensions.

A Brief History of Onchain Privacy

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Alice is a Research Analyst on the Protocol Services team. She previously worked as a Research Analyst at The Block and was an Investment Intern at Variant Fund. Alice graduated from Northwestern University, where she studied Economics.

Austin is a Research Analyst on the Protocol Services team. Before joining Messari, he studied IT and Global Commerce at the University of Virginia.

Mentioned Assets
Outline
  • Key Insights
  • A Brief History of Onchain Privacy
  • An Overview of Privacy Sectors
  • Why Privacy is Still Hard
  • The Road Ahead
  • Conclusion
Authors
Alice is a Research Analyst on the Protocol Services team. She previously worked as a Research Analyst at The Block and was an Investment Intern at Variant Fund. Alice graduated from Northwestern University, where she studied Economics.
Austin is a Research Analyst on the Protocol Services team. Before joining Messari, he studied IT and Global Commerce at the University of Virginia.
Mentioned Assets