This research report is valued at 4500U

In-depth analysis of @0xMiden: How to perfectly coexist with "sovereign privacy" and "institutional compliance" within the same protocol?

1️⃣ First, privacy is not a switch but a spectrum.
In the past, we always struggled to choose between "full transparency" and "black box anonymity."

Regulators fear black boxes, users fear transparency. The emergence of @0xMiden essentially transforms privacy from a UX layer patch into a configurable parameter at the protocol level.

2️⃣ Now, let's look at the core endorsement: the "crown jewel" of the Polygon ecosystem.
As the most technically challenging and highest ceiling ZK track in @0xPolygon's strategic layout, led by the core inventor of #Miden 不仅继承了 Polygon 强大的资金与生态资源，更由 #STARK.
It is not just a layer-two scaling solution but aims to solve the most critical pain points for Web3 entering the mainstream market: coexistence of compliance and privacy.

3️⃣ Why can Miden achieve "privacy per transaction"?
The key lies in a thorough revolution of the underlying logic:

• Client-Side Proving: Transactions are first executed locally on the user's device, generating a STARK proof. The chain only verifies correctness, not the "specific actions." Privacy is a native attribute, not an after-the-fact mask.
• Hybrid State Model (Account + Notes): Asset states are finely disassembled. Accounts can be public, but specific asset flows (Notes) can remain private. This "state-level" granularity allows developers to tune privacy as easily as adjusting volume.

4️⃣ Solving the "deadlock" for institutional entry
Institutions hesitate to enter because traditional anonymity solutions are compliance nightmares.
Miden's "semi-public (Selective)" mode is a game-changer: regulators can verify transaction legality (double-spending, compliance) but cannot peek into your balances or counterparty details. Regulators see the "facts," you retain the "privacy."

5️⃣ The transformative impact for ordinary users: scenario-based privacy
On Miden, you no longer need to frequently switch chains or wallets based on privacy needs:
🔹 Private transfers: complete concealment of fund flows
🔹 DeFi interactions: semi-public mode, balancing efficiency and security
🔹 Institutional interactions: disclosure on demand, meeting audit requirements
All on the same chain, adjustable via parameters.

6️⃣ Technical core: the ultimate power of ZK-STARK
Miden is based on Miden VM, the first multi-asset recursive virtual machine built on STARKs. This means it guarantees privacy while offering high throughput and extremely low verification costs.

Finally, a clear statement: the future of privacy is "adjustable"
Miden turns privacy from a "risk" into an "ability."

When privacy is no longer an enemy of compliance, Web3 can truly carry trillions of assets from the real world.

#Polygon #Miden #ZKP #Privacy #STARK #Web3 #ZK