Golden Finance reports that Ali Yahya, a general partner at a16z, pointed out in a post that privacy will become the most important moat in the cryptocurrency field. Ali stated that due to the difficulty of migrating secret information, privacy features are sufficient to differentiate new chains from others and create an on-chain lock-in effect. When users are on a public blockchain, they can easily transact with other users on the chain, but on a private blockchain, the chain chosen by the user is more important, as once a user joins a certain chain, they are less likely to risk exposing themselves and moving to another chain. Ali believes this will create a winner-takes-all dynamic, 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.