EY`s Nightfall proves institutional privacy demand is real. The rollup centralization risk it carries proves the architecture problem isn't solved yet. @0xMiden takes a different approach. Client-side proving means users generate proofs themselves - no intermediary in the trust chain. Validators are live now. Ethereum-native, so existing DeFi infra stays composable. No migration ask. Competition across privacy stacks is heating up - that`s good for the space. But decentralized execution that`s actually running is a different category from pilots. This is where conviction starts forming.
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