Solana (SOL) is introducing a “Confidential Transfers” feature that provides encrypted SPL token transactions and various performance enhancements.

The layer 1 proof-of-stake blockchain released its version 1.16 update, which includes the new “Confidential Transfers” feature, providing encrypted SPL token transactions.

Helius Labs, the developer platform that specializes in building on the Solana blockchain, indicated that not all features of the v1.16 update will be immediately live.

Developed over 10 months by Solana Labs and audited by blockchain security firm Halborn, the update has received support from a majority of validators. Prior to the official release, the update underwent testing on Solana’s testnet.

Solana capabilities

Introduced by Token2022, Confidential Transfers extend Solana’s token capabilities. This feature allows users to conduct blockchain transa

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Author: Bralon Hill

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