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Comparative Analysis of Privacy-Preserving Identity and Transaction Infrastructures This article provides a comparative analysis of three distinct privacy-preserving Web3 infrastructures as of January 2025. @BeldexCoin is an independent privacy-focused Layer 1 blockchain consisting of approximately 2,069 masternodes, offering anonymous payments and privacy tools (e.g., BelNet VPN, BChat messenger). @useTria is a self-custody neobank in the pre-token issuance stage, adopting the BestPath AVS structure to implement chain abstraction across multiple virtual machine (VM) environments. @idOS_network builds a regulation-friendly identity infrastructure that supports reusable KYC verification. Overall, Beldex boasts mature deployment and a complete privacy structure, Tria emphasizes multi-chain accessibility and user experience innovation, while idOS has a design centered on regulatory compliance. Beldex advances the CryptoNote protocol based on Monero, concealing all transaction metadata such as sender, receiver, and amount through ring signatures, RingCT, and stealth addresses. Operating a masternode requires a deposit of 10,000 BDX, which serves as an economic collateral of approximately $70,000. The BelNet decentralized VPN has around 2,000 relay nodes, and the BChat messenger processes over a million messages daily based on end-to-end encryption. Due to its design maximizing privacy, it does not comply with regulatory requirements such as KYC or AML, but it possesses the most complete form of personal anonymity protection. Tria approaches privacy through infrastructure abstraction rather than direct encryption technology. The network utilizes TSS (Threshold Signature Scheme) for distributed key management, and BestPath AVS processes intent-based transactions in a competitive structure among multiple validators. Users can manage assets without a wallet seed phrase, and transactions without gas fees prevent the exposure of the payer's identity. Currently, over 1,600 users are participating in a private beta, processing transactions totaling over $1.5 million, and they are pushing for entry into the global payment network through partnerships with Visa and Mastercard. However, as it is still in the pre-token issuance stage, the governance structure and token economic model have yet to be defined. idOS applies a dual-network structure focused on decentralized identity management. The storage network is a permissioned Layer 1 based on Kwil that stores encrypted data, while the economic network is responsible for tokenization in the @arbitrum Orbit environment. Users encrypt their personal data on the client side before storing it and can selectively disclose only the necessary information using W3C standard-based verifiable credentials (VC). Furthermore, the authentication process, including facial recognition or biometric authentication, is completed within five seconds, and age or regional verification is conducted through zero-knowledge proofs (ZKP) without exposing personal information. It is designed to comply with European regulations such as GDPR, AML, and MiCA, ensuring legal retention periods through predefined time-lock policies. Due to its regulatory-averse nature, Beldex does not have official regulatory certifications, but it has received a high rating in a security audit by CertiK. Tria has established a compliant structure through partnerships with financial networks such as Visa, Mastercard, and Galaxy One, securing institutional accessibility through investments from entities like the UAE royal family and Polygon officials. idOS is managed through an association based in Switzerland and operates in a consortium format involving foundations such as Circle, Gnosis, NEAR, and RippleX, ensuring legal stability. In terms of interface accessibility, Beldex focuses on an ecosystem centered around its own wallet and privacy tools, Tria offers a user-friendly banking interface, and idOS is structured around SDKs for developers and institutions. Beldex's BelNet and BChat have approximately 50,000 and 200,000 users, respectively, while Tria provides an integrated suite of financial products (payments, trading, yield). idOS is primarily pushing for market entry through the expansion of the developer community. Looking at the security structure, Beldex has approximately $1.4 billion worth of BDX staked, and the network's consensus is achieved through voting by producer and validator groups. Tria utilizes EigenLayer-based restaking to perform collateral-based verification among TSS nodes, while idOS handles verification through KYB-certified operators in a permissioned node structure. Governance for Beldex will be through masternode voting, Tria will transition to a DAO structure after future token issuance, and idOS will proceed with gradual decentralization centered around the association. In terms of partnerships, Beldex remains limited to technical integrations with Polygon and BNB Chain. In contrast, Tria is expanding strategic connections with EigenLayer, Sentient, Celestia, and has secured a $12 million pre-seed investment led by Polygon Ventures. idOS has raised $4.5 million from Fabric Ventures and is expanding a multi-chain identity ecosystem with participation from Circle, Gnosis, NEAR, and RippleX. In the future development roadmap, Beldex aims to enhance VRF-based PoS and introduce Bulletproof++, as well as build a sidechain for AI computations. Tria plans to push for global payment network expansion alongside token issuance in 2025, while idOS is expected to enter the public bidding phase for node operators and the permissionless stage in the second half of the same year. In the medium to long term, the three projects will develop around different axes of privacy, accessibility, and regulatory compliance, but there is also the potential for complementary integration. For example, if idOS's identity layer is combined with Tria's financial interface and Beldex's anonymous payment structure, a regulation-friendly yet fully private financial infrastructure could be realized. As the regulatory environment evolves, the scalability of balanced models like Tria or idOS may be rated higher than privacy-maximizing models like Beldex.