Why blockchains need privacy for apps

This interview podcast explores blockchain privacy, focusing on the limitations of current transparent blockchain designs and the potential of privacy-enhancing technologies. The discussion begins by highlighting the misconception that crypto inherently provides anonymity, contrasting pseudonymity with true transparency. The conversation then delves into different approaches to achieving blockchain privacy, including TEEs (trusted execution environments), MPC (multi-party computation), and ZKPs (zero-knowledge proofs), with a detailed explanation of Aleo's ZKP-based approach. Aleo's solution prioritizes data privacy over function privacy for improved performance, enabling faster transactions and opening up new applications in areas like identity management, gaming, and decentralized finance (DeFi). The podcast concludes by discussing the future of zero-knowledge proofs and their potential integration into mainstream blockchain technology. For example, Aleo's technology allows for the creation of private smart contracts, enabling applications like private payments and secure data storage.