Privacy Foundations

The technology layer underneath everything else covered here: zero-knowledge proofs, fully homomorphic encryption, multi-party computation, and trusted execution environments. Production systems increasingly combine them. Coverage tracks the state of each approach, the points of convergence, and the tradeoffs that decide which combination fits which problem.

Three architectures for confidentiality on public blockchains, and what the institutional infrastructure choice looks like in 2026

Privacy Foundations

Three architectures for confidentiality on public blockchains, and what the institutional infrastructure choice looks like in 2026

Every major custodian, market maker, and stablecoin issuer evaluating public-blockchain rails this year is implicitly choosing among three architectures for confidentiality: operator-controlled environments anchored to a public chain (Tempo Zones), client-side zero-knowledge proofs (Aztec), and fully homomorphic encryption (Zama). Each forces a different conversation with regulators,