Key Crypto Subfields - MEV (Miner Extractable Value) is a crucial and asymmetrical area in crypto [1] - Market structure is a significant subfield [1] - Privacy solutions are essential in the crypto space [1] - Perpification of new assets is gaining importance [1] - Scalability, especially burst scalability, is a key focus [1] - Trading modalities are evolving within the industry [1] - Market-based governance mechanisms are being explored [1] - DeFi composability remains a core aspect [1] - Zero-Knowledge (ZK) technologies are vital [1] - Adding basic vesting contracts to token launches is important [1]

the last 1,000x thesisthe reason I call privacy the last 1,000x or the last PvE is not just for a soundbite (though it's also that)it is based on fairly obvious, emergent market asymmetries and gaps, along with the right timing on macrothis includes ZK, but is not limited to ZK, and also includes mixers, FHE, and MPCa brief sequence of events:- Bitcoin started as a cypherpunk movement for internet money as a response to the 2008 financial crisis- it was novel, anarchist, and unproven — no one knew if it wou ...

Core Argument - The primary purpose of blockchains is consensus without central trust, not transparency [1] - Public verifiability is the key aspect of blockchains [1] - Transparency was initially necessary for public verifiability but is no longer a strict requirement due to technological advancements like Zero-Knowledge proofs (ZK) [1] Technological Evolution - Technology has evolved, enabling verification without exposing all data through ZK [1] - Transparency should only be considered a feature in specific performance-oriented cases, such as Solana [1] Industry Perspective - The crypto industry emphasizes verifiability and distributed trust, which no longer necessitates complete transparency [1] - Early crypto adopters presented transparency as a key feature to regulators to alleviate concerns about illicit activities [1]