Solana has launched its Confidential Balances Token Extensions on the mainnet, marking the debut of a ZK-powered encrypted token standard designed for institutional compliance. This new feature enables encrypted balances and private transfers, allowing developers to create applications that support configurable privacy through confidential transfers, minting, burning, and auditing. The launch aims to facilitate the development of private payroll systems, institutional transfer tools, merchant payment solutions, and privacy-preserving consumer applications, all while maintaining Solana's sub-second finality. The introduction of these token extensions is seen as a significant advancement in on-chain encrypted tokens, enhancing privacy and compliance for developers and users alike. This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz . To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
