There is a low-profile but highly capable old project worth paying attention to—Dusk, which has been active in the blockchain space since 2018. Despite not being very well-known, its positioning in the crypto circle is truly unique: a Layer 1 underlying chain focused on "regulation + privacy" financial infrastructure.

Nowadays, it's clear that for crypto finance to grow to an institutional level, two hurdles must be overcome—regulation and privacy. Dusk's cleverness lies in addressing these issues from the ground up. It adopts a modular architecture design, offering strong flexibility to adapt to various institutional financial application scenarios. Whether building compliant DeFi ecosystems or tokenizing real-world assets like real estate, gold, and art for on-chain management, it has the capacity to support them.

What's even more interesting is that privacy protection and auditing functions are directly integrated into the system design. Users' financial information remains confidential, while still meeting regulatory audit requirements. This balance between privacy and transparency is not something every public chain can handle. Thanks to this differentiated technical approach, it has established its own moat in the financial blockchain track.