The rise of ZK cannot be underestimated. With more privacy solutions going live and continuous upgrades in cross-chain coordination capabilities, new value accumulation models such as interoperability fees and enterprise authorization have been opened up. The commercial potential of these models is well understood within the industry. Coincidentally, this direction aligns closely with the recent policy orientation of regulatory authorities—emphasis on compliance and traceability is driving the entire ecosystem towards a more mature direction. The ZK ecosystem is at a critical juncture.