Introduction
Each generation of blockchain solves a limitation from the last one, while creating a completely new paradigm for the builders of the next one. When Bitcoin was launched in 2009, it demonstrated how an economy could be built without a central authority by addressing decentralization. Shortly after, Ethereum introduced the second generation of blockchain with smart contracts addressing programmability. The third generation has set its sights on scaling, and as L2 becomes the dominant solution, the industry is now focused on the next challenge: privacy.
While many have made progress, privacy and transaction confidentiality remain largely unresolved on public blockchains.
