The definition of privacy is quietly changing. The old all-or-nothing choice—completely anonymous or fully transparent—has long been outdated. The current question is: can privacy coexist with rules? Can it become an infrastructure that is auditable, regulated, and truly scalable?

This is not a pipe dream. Regulation has become normalized, and those schemes that hide behind complete anonymity and turn a blind eye to reality are indeed being squeezed out little by little. But from another perspective, this actually opens up new possibilities—using technology to redefine the boundaries between privacy and rules.

Dusk's approach is very interesting. It doesn't treat regulation as an enemy; instead, it uses technology to solve a real pain point: institutional players need privacy protection but also require auditability. As a Layer-1 protocol tailored for regulated finance, its core innovation lies here—transaction details, asset composition, and identity information are all hidden, but when needed, it can prove compliance to authorized parties through zero-knowledge proofs.

This sounds simple, but the technical game behind it is quite complex. However, in the long run, DUSK's value isn't about short-term market fluctuations but whether it can become a fundamental component of privacy finance. Once this model is accepted by the market, it will exist like water, electricity, and gas—stable, essential, and permeating every link.

In essence, Dusk isn't taking the most radical or eye-catching route, but the one that is easiest to survive and most likely to be genuinely used. For projects worth long-term attention, this kind of judgment is much more reliable than conclusions based solely on a few candlesticks.