8 days ago
Solana has introduced Confidential Balances Token Extensions on its mainnet, marking the launch of the first zero-knowledge (ZK) powered encrypted token standard designed for institutional compliance. This new standard allows for encrypted balances, private transfers, and institutional-grade compliance while maintaining Solana`s sub-second finality, low costs, and liquidity on its permissionless network. The Confidential Balances suite includes extensions for confidential transfers, minting, burning, and auditing, enabling developers to build privacy-focused financial applications such as payroll systems, institutional transfer tools, merchant payment solutions, and consumer apps. These features are intended to provide configurable privacy without compromising on the speed and efficiency of Solana`s network. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
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Source: The Defiant
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