A brighter future for crypto is on the horizon thanks to zero-knowledge solutions

cointelegraph.com:

Last year has been a rollercoaster year for crypto: from the collapse of big wallet providers to the unfolding FTX saga, and the all too familiar occurrences of rug pulls, scams and bankruptcies. While the market is still trying to find its footing in the aftermath of what can be categorized as a challenging year, there is a case to be made for this being a net positive for an industry that is still going through substantial growing pains.

The scale of malpractice with FTX was so massive that it has drawn worldwide attention. This obviously has its downside for crypto projects, as critics will use what happened to paint the entire industry as untrustworthy and dangerous.

There is an upside, however.

This event may end up separating the wheat from the chaff in crypto, as projects will be put under more pressure to operate in a transparent and trustworthy manner. Scams and bad actors will have a much harder time as both regulators and users will be on the lookout for platforms and projects that aren’t up to snuff.

Parallel to the external pressure put on projects, there will also be internal pressure for legitimate platforms to go above and beyond what is required of them to prove that they are in fact operating in the way that they should. This should, hopefully, result in more projects that provide users with real utility and cause a reshuffling of the layout of the crypto industry. There is no longer a place for platforms unwilling or unable to meet the demands placed on them.

The winners in this scenario are users, who would enjoy a crypto industry more in line with the original philosophy behind the movement.

In order for this to happen, the industry will have to operate with much more transparency. There need to be