Lately, the more I look at on-chain data, the more I feel that the word “privacy” is quite like a reflection in a puddle: you think you're hiding well, but as soon as the streetlights shine, everything is visible… Basically, ordinary users shouldn’t expect absolute anonymity; wallet addresses don’t include your name, but once linked with exchanges, fiat on-ramps, or even your usual interaction habits, a profile can be built. Compliance isn’t black and white either, more like a spring: loose most of the time, tightening up when something happens. I personally don’t dare to put all assets and actions into one address, just to feel more at ease.

These days, Layer 2 is again loudly competing over TPS, fees, and subsidies. I find it quite lively, but the more competitive it gets, the more it seems like pushing everyone to turn on-chain behavior into a “traceable assembly line,” and privacy tools suddenly come under scrutiny… It’s making me a bit anxious: should we be hoping to “be less disturbed,” or “be able to dig up old records at any time”? The answer might not be very pleasant, but what do you think…