Many people automatically think of privacy as "others can't look into me," but this understanding can cause them to overlook some projects' true intentions.

Take projects like DUSK, for example. Their core isn't about pursuing complete anonymity but about solving a more practical contradiction: **On-chain finance needs transparent, verifiable rules, while also requiring protection of commercial sensitive information and user privacy**. These two seem opposed, but in scenarios like issuance, trading, settlement, and compliance audits, the conflict is often magnified.

From a certain perspective, this is more like an attempt at building the underlying infrastructure for finance. The key idea is "privacy + compliance can coexist," rather than simply pursuing absolute anonymity. Why? Because the real financial world doesn't need to hide everything but requires **selective information concealment and targeted verifiability**.

Imagine: if data such as transaction amounts, position intentions, order strategies, and identity networks are fully exposed on-chain, institutional investors and compliant asset issuers would naturally become very cautious, even hesitant to participate. Conversely, if operations become black boxes, compliance departments and auditors won't be able to do their work. DUSK aims to find an engineering solution in this middle ground.

Therefore, when analyzing such projects, it's recommended to bypass price volatility and emotional factors, and instead ask three questions from a different perspective:

**First**, what specific data dimensions does the defined "privacy" cover—amounts, asset ownership, trading intentions, order book structures—and after hiding these, how is verifiability ensured without compromise?

**Second**, from an engineering standpoint, how does it reduce the cost of external ecosystem integration? This determines the ceiling of actual adoption.

**Third**, in existing on-chain financial scenarios, is there really a strong enough demand for privacy + compliance to be satisfied simultaneously? Or is it somewhat an idealistic concept?

Answers to these questions can help you understand the true value of this track better than just watching price charts and candlestick patterns.