Privacy comes in two flavors: Anonymity: hides who Confidentiality: hides what. I learned this difference digging through Confidential ERC20 models. Before that, “privacy” on the blockchain, to me, meant nobody knows what I’m doing. Cover your tracks. Stay invisible. But that’s just anonymity - and it convicted me as to why, earlier on, so many traditional financial institutions kicked against blockchain adoption. While anonymity may feel like a “privacy” breakthrough, it also shuts out oversight completely, making it easier for bad actors to hide. Confidentiality, on the other hand, keeps the system open but shields the details — balances, amounts, sensitive info — so honest users and businesses can operate without financial exposure. A real-world example came in October 2024, when Circle (issuer of USDC) partnered with Inco Network to launch the Confidential ERC-20 Framework.
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I built a starter pulse for $ARENA. It wasn’t easy: table hunting in Dune, a few “schema” errors, and the classic 18-decimal headache. Although the result makes up for the headache. What the data says (last 7 days): • 1.36B $ARENA moved across 44,822 transfers • ≈ 1.33% of all Avalanche transactions • a recurring large counterparty: 0x4bcdb9…d898f What I learned: • Use the right tables; quote "from" and "to" • evt_* columns are event metadata; event from/to aren’t the tx sender/receiver • Normalize units (ARENA = 18 decimals) and cast before dividing • Time windows change the story: 24h pulse, 7d baseline, 30d trend • Exclude zero-address flows when you want circulating activity Dashboard (public): https://dune.com/jengreg/arenatokeninsights
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clicking!
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