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"a16z: By 2026, Privacy Will Become the Key Moat in the Crypto Industry" (Compiled by Deep潮 TechFlow) After performance and cost converge, privacy not only enhances security but also creates hard-to-migrate network effects. The truly sustainable solution is decentralized, trustless privacy infrastructure. From communication to data and AI, users should control information through keys rather than institutions; privacy must become a foundational capability in the form of "Privacy as a Service." Meanwhile, DeFi security is evolving from "code is law" to "standards are law," building system-level defenses with provable invariants and runtime constraints. Read more: