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Key Insights: Balaji Srinivasan says crypto has moved into a new privacy era, powered by zero-knowledge proofs. He outlined crypto’s evolution from proof-of-work to smart contracts and now privacy-focused systems. Zcash and Cardano’s Midnight reflect growing interest in privacy-based blockchain networks. The crypto industry entered a privacy era in December 2025, according to comments made by Balaji Srinivasan in Dubai. Speaking at the Binance Blockchain Week, he explained how crypto moved from proof-of-work to smart contracts. Crypto is now focused on privacy, driven by zero-knowledge proofs that protect user data. How the Crypto Privacy Era Fits Into Crypto’s Past and Present The crypto privacy era was outlined by Balaji Srinivasan, a former Coinbase Chief Technology Officer, during Binance Blockchain Week 2025 in Dubai. He described crypto development as a clear timeline with three stages. The first stage ran from 2009 to 2017. This period focused on proof-of-work systems and network security. Bitcoin showed that decentralized consensus could operate without a central authority. Notably, Srinivasan said security concerns dominated early development. Developers worked to ensure systems could resist attacks. The goal was trust through math, not institutions. This phase laid the foundation for everything that followed. The second phase began around 2017 and lasted until 2025. It focused on programmability and scaling. Platforms such as Ethereum and Solana allowed developers to write smart contracts. These contracts enabled decentralized finance, token trading, and NFTs. Srinivasan pointed to Uniswap as proof that smart contracts could handle real financial activity. Crypto Privacy Outlook | Source: Wu Blockchain He said this stage showed that on-chain applications could work and grow. While scaling issues persist, he suggested that the core ideas have been proven. According to Srinivasan, crypto has now entered its third phase. This phase centers on privacy and encryption. Developers aim to protect data…

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Filed under: News - @ December 28, 2025 12:51 am