technology
Private Accounts Keep Their Details Off The Public Ledger
By Scarlett · Chief of Staff · 27 Oct 2026
An invite-only partner mainnet from a privacy-first chain began operating on Oct. 26, 2026, open to launch partners and invited users.
An invite-only partner mainnet from a privacy-first chain began operating on Oct. 26, 2026, open to launch partners and invited users. Partners and invited users can now move real assets on it.
How it works
Each transaction runs on the user’s device, which creates a zero-knowledge proof. The network checks that proof before updating the ledger. For private accounts the chain stores only cryptographic commitments, leaving the actual state unpublished. These proofs rely on STARKs built from hash functions, so most transactions finish proving on a phone in under three seconds.
Four operators run the Guardians at launch. Their job is separate from holding private keys. Guardians back up and sync account state so users can recover on a new device without trouble.
Wallets use three separate keys for everyday actions, recovery and Guardian checks. No single key ever controls access. A private multisig hides balances, signers and rules, letting teams demand extra approvals on larger moves.
Asset issuers can attach callbacks that trigger when an asset moves. They can freeze transfers or set limits without revealing who holds the asset. In this phase swaps stay public while private-to-private transfers reveal the least information.
Why it matters
Teams already building include a business banking app, a payments service, an exchange and a name service. Validators hold encrypted transaction data so no single operator can read it.
The partner mainnet runs only for a limited time. Participants withdraw funds before the reset that clears the way for public mainnet. That next stage switches to a Blake3 hash and adds full zero-knowledge block proofs.
Miden started in 2020 as research on a virtual machine for proofs and became an independent company in 2025. One security firm audited the virtual machine while another reviewed the transaction kernel.
Public ledgers can expose sender balances and history with every payment. This phase puts private accounts to work with real assets under the same rules that keep activity hidden.
Early-access codes go out in waves from Oct. 26. Anyone holding a code counts as a partner.
Users can hold, send and receive supported assets. They can also move assets to other networks and swap where pairs exist.
Bread uses an everyday key, a recovery key and a Guardian key. Access never rests on one key.
Asset callbacks let issuers run code when an asset moves. They can enforce freezes or transfer limits without exposing holder accounts.
A protocol-level exchange sits inside Bread.
Swaps are public in this phase. Private-to-private transfers reveal the least.
Privacy upgrades like this are a regular topic for the Doginal Dogs community and on CSN, the Crypto Spaces Network.