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Definitely a project to keep an eye out, likely to undergo some airdrop for early adopters. Technologically speaking, it's a breakthrough, I'm concerned about the regulatory aspect.

zkSync, and all Zero-Knowledge proof blockchains will suffer regulatory issue unless they combine both privacy but some sort of censorship to prevent criminal activities. This is a difficult problem to solve as government want control, which is the exact opposite of decentralization. Tools such as TornadoCash which was offering privacy of transactions for example was basically banned by the US government on claims that it was used by lots of criminal activities. Anyone caught using the service without special permission could be brought to justice. https://sanctionscanner.com/blog/tornado-cash-a-crypto-mixing-service-now-blacklisted-by-the-us-treasury-675

This is true not only for the US government, I highly suspect zk technologies will become heavily penalized if implemented in a way that allow criminal money laundering to take place. On one hand, the US government is pushing for FedNow adoption, which essentially enables the government to track every transaction of its citizen with no privacy.

I would argue that if this technology maintain privacy of the participants but also allow for freezing of assets for addresses that are proven to be involved in criminal activities, then I believe it would potentially be an acceptable compromise between privacy and governments oversight. The crypto community would certainly not be happy with such scenario, but innovative progress such as this can be abused.

It is unclear if governments can create a chokepoint of access to zk technologies on the other hand.

For these reasons, I wouldn't put my life savings into this project, but if I can get in on the airdrop I will definitely try.

https://thedefiant.io/treasury-defi-report (similar views that I just explained on this article) Show Less

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