The Journey to Ethereum Privacy: Is a private transaction worth $9?

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One of the most promising uses for Ethereum has been for financial applications that use the distributed ledger and smart contracts to create programmable assets and instruments. MakerDAO, Compound and Uniswap have created a growing on-chain financial ecosystem that has grown astronomically. For a sense of scale, the Ethereum "DeFi" ecosystem has gone from $0 to almost $400 million in locked value within 18 months.