Dominic’s engineer looked under the hood of NEAR’s “confidential” setup and came back with this 🔥 Separate permissioned chain. Operators trusted to keep data private. No real cryptography doing the work. Operators not even public. That’s not confidentiality. That’s a private club with a privacy label. $ICP privacy claims rest on math (Chain Key, threshold encryption, the network itself). This rests on “trust the nodes.” Worth reading the full note before the narrative hardens.

I Ranked 20+ AI Crypto Coins Thoughts?

This is craazy. I asked one of our PhD engineers to look into NEAR *Confidential* Intents wondering how they designed their system. Unredacted, word-for-word, this was his answer 😱😱😱 "Everything I found out about the privacy claims and confidential intents is so bad that it seems almost comical and I cannot believe what I am seeing. Apparently they run a completely separate instance of the protocol, which is called FAR (as an opposite to NEAR), and that has a permissioned operator set. The entire confidentiality claim seems to rest upon the fact that it is a permissioned chain and the nodes are trusted to keep things private, there doesn't seem to be any deep technology behind it and it also does not seem to be open source. The entities running the nodes are also not publicly known. I almost feel weird writing this because it is so absurdly bad that it feels like ... I don't know ... a simulation? I know the usual level of overpromising in Web3 but this is so many levels beyond believable that it still feels unreal."