There's a dangerous assumption most developers bring into Compact: "It's a privacy-first chain. My data is private unless I explicitly expose it." This is backwards. And it's where the serious mistakes happen. Compact doesn't give you automatic privacy. It gives you a hard boundary between two worlds, and a compiler that enforces it. World Where Who sees it Public On-chain, every network no
## INTRODUCTION Every blockchain application that handles value needs to answer the same question: how do you track who owns what? There are two dominant approaches, and choosing between them shapes your entire contract architecture. Contract-state accounting behaves like a bank ledger. A single smart contract holds a balance map, and transactions update entries in place. The UTXO model behaves li
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