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Category: CRYPTO NEWS
The post Solana’s ‘Confidential Balances’ Strengthen Blockchain Privacy appeared on BitcoinEthereumNews.com. Solana has presented Confidential Balances to enhance privacy and secure transaction details. The new system comes with several benefits such as users can convert public token balances into a confidential state and transfer them privately. Solana has expanded its privacy capabilities with the launch of “Confidential Balances,” a suite of zero-knowledge-powered token extensions. It is designed to shield transaction details while maintaining regulatory compliance. New Privacy Features Expand Token Functionality Confidential Balances represents the latest addition to Solana’s privacy-protecting “Confidential Transfers” features which Token2022 introduced to the network in June 2024. The expanded suite consists of three integrated extensions that were added to the framework. The first one is Confidential Transfers which allows users to obscure transfer amounts. The second one is the Confidential Transfer Fee which enables hidden fee processing while maintaining the same cryptographic security. The third one is Confidential Mint and Burn which allows token issuers to conceal the number of tokens being minted or burned. According to the developer, the system allows users to convert public token balances into a confidential state, transfer them privately, and revert them to public balances when needed. All these operations use homomorphic encryption and zero-knowledge proofs to verify transaction correctness while keeping privacy maintained. Confidential Balances are prepared for Rust-based backend deployment because servers handle proof generation and encryption key management. These features can be supported by “Wallets-as-a-Service” providers from third parties to boost user adoption. The upcoming release of JavaScript-based zero-knowledge proof libraries during 2025 will create better integration possibilities for wallets. These developments will allow for client-side proof generation, native wallet support, and streamlined compliance mechanisms through optional “Auditor Key” functionality. Helius Solana’s leading RPC and API platform defined the new feature set as “the first ZK-powered encrypted token. It is built for institutional compliance without compromising on…
2025-04-09T13:45:08+00:00
https://bitcoinethereumnews.com/blockchain/solanas-confidential-balances-strengthen-blockchain-privacy/?utm_source=rss&utm_medium=rss&utm_campaign=solanas-confidential-balances-strengthen-blockchain-privacy