Golden Finance reports that a16z General Partner Ali Yahya pointed out that privacy will become the most important moat in the field of cryptocurrency. Ali stated that due to the difficulty of migrating secret information, privacy features are sufficient to differentiate new chains from others and create on-chain lock-in effects. When users are on public blockchains, they can easily transact with users on other chains, but on private blockchains, the chain chosen by users is more important, as once they join a certain chain, users are less likely to risk exposing themselves by moving to other chains. Ali believes this will create a winner-takes-all scenario, as privacy is crucial for most real-world use cases, and a few privacy chains will occupy a large portion of the cryptocurrency ecosystem market.