The Elusiv team has added a confidential asset exchange feature to the Solana app of the same name. Writes about it The Block.
The new solution allows you to swap tokens without disclosing information about the public wallet address in the blockchain.
The feature aims to reduce counterparty risk by using zero-knowledge proofs to encrypt public keys.
As a result, exchanged amounts cannot be linked to actual wallet addresses.
“Both users and experienced traders can hide their transaction history, trading strategies and assets by separating the token swap from the public keys. This paves the way for open and fair DeFi.” Elusiv co-founder Julian Deshler said.
The Elusiv app requires users to deposit funds into a private balance before sending or exchanging – all steps without revealing the public key.
The procedure involves the use of a temporary key, acting as a one-time account, which decouples the user’s public key and encrypts the source of transactions.
“Elusiv Privacy represents the future of blockchain transactions — […] combination of privacy […]efficiency and instant calculations,” explained Anatoly Yakovenko, co-founder of Solana.
He previously allowed Ethereum to be used as a second layer solution for the Solana blockchain.
Recall that privacy-focused Web3 startup Ola raised $3 million in a seed funding round. The company offers “optional” privacy with hybrid ZK rollups (ZK-ZKVM).
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2023-08-22 14:59:27
#Developers #Launch #Private #Swap #Protocol #Solana #ForkLog
