#稳定币发展与应用 Stablecoins are indeed undergoing changes. Zama's privacy transfer solution is quite interesting; the cost per transaction is only $0.13, which means FHE technology has finally moved from theory to real-world application. Previously, it was all conceptual hype; now, we have real data to support it.

But honestly, I am more focused on the underlying logic— the implementation of privacy stablecoins is actually redefining what "money" should look like. Plasma is also exploring this, with the idea that "Stablecoins should feel like money." It sounds simple, but executing it is the real challenge.

Comparing this to the token distribution controversy of Lighter, giving 50% to the team and investors indeed caused some resentment. People are starting to care more about the project's value accumulation logic rather than just airdrop expectations. This shift in attitude may also be driving increased attention to payment-focused chains and privacy solutions.

Overall, I feel that by 2026, there will be substantial progress in stablecoins, moving beyond just storytelling. Only solutions that are practical, usable, and low-cost will have a chance to survive.