When it comes to projects like Dusk, I never follow the hype blindly. Instead of being led astray by claims like "privacy + compliance," I prefer to rely on solid technical analysis. After several years of observation, I’ve developed a straightforward three-step evaluation method that is simple yet effective.

**Step 1: Understand what problem it aims to solve**

Dusk’s goal is very clear—targeted at regulated assets. Securitization, institutional participation, issuance, and trading all need to follow proper procedures. Many people evaluate it as an ordinary public chain, thinking its performance is average. But if you look at it from a different perspective—considering whether it can support securities-grade processes as a foundational infrastructure—everything makes sense. It’s not about competing with Ethereum on speed, but about asking, "Can it securely run a complete chain for compliant assets?"

**Step 2: Identify its core competitive advantage**

Dusk’s killer feature is confidential smart contracts. Most chains operate with open contract code and off-chain permission management. Dusk takes the opposite approach—embedding sensitive conditions and permission rules directly into the contract, and using zero-knowledge proofs to verify execution results. External parties can confirm that "the rules were correctly executed," but they cannot see the specific business logic. This provides a solution for asset issuers: they can accept audits and verification without revealing their commercial details.

**Step 3: Focus on the most vulnerable points**

The risks are also quite clear—can third-party developers understand zero-knowledge proofs? Will writing contracts become a nightmare? Will performance degrade when rules become complex? Once securities logic is involved, the terms become a series of nested conditional statements, and anyone who has written such business contracts knows how troublesome that can be.

Therefore, my view of $DUSK is simple—it’s not a short-term trading asset, but a tool for bringing compliant assets onto the blockchain that should be tracked for usability. If the tool is genuinely useful, the market will eventually recognize it; if not, no matter how loud the hype, it’s just a fleeting excitement.