🪙 The Solana Labs development team has announced the release of update 1.16 to the network, which significantly reduces the RAM requirements of validators and allows for confidential transactions.
⌨ This update includes the use of encrypted zero-knowledge (ZK) transactions, which encrypts balances and transaction amounts in Solana Program Library (SPL) tokens. When making confidential transfers, the ElGamal algorithm (Twisted ElGamal Encryption) is used for encrypted amounts. Sigma protocols are used to confirm the translation.
⌨ Infrastructure provider Solana notes that the confidential nature of transactions is achieved by hiding key details of the transaction from outsiders, but this does not mean complete anonymity.
🔥 𝐏𝐑𝐈𝐌𝐄 #Solana
⌨ This update includes the use of encrypted zero-knowledge (ZK) transactions, which encrypts balances and transaction amounts in Solana Program Library (SPL) tokens. When making confidential transfers, the ElGamal algorithm (Twisted ElGamal Encryption) is used for encrypted amounts. Sigma protocols are used to confirm the translation.
⌨ Infrastructure provider Solana notes that the confidential nature of transactions is achieved by hiding key details of the transaction from outsiders, but this does not mean complete anonymity.
🔥 𝐏𝐑𝐈𝐌𝐄 #Solana