Privateness-centered cryptocurrency ZEC$354.ninety nine has now no longer too long ago surged in value, prompting more than one blockchains to integrate the token into their ecosystems.
On Oct. 16, Solana, the world’s second-largest comely contract platform, launched wrapped ZEC by job of the Zolana bridge. Nonetheless, these wrapped tokens purpose as long-established Solana Program Library (SPL) tokens and enact now no longer supply the privacy protections inherent to native Zcash. They’re backed 1:1 by native ZEC nonetheless enact now no longer hide balances or transaction files.
Encifher addresses this limitation by re-wrapping tokens into encrypted sources esteem eZEC, enabling private, encrypted swaps on Solana through slicing-edge fully homomorphic encryption (FHE). This technology ensures that sensitive transaction files remains hid, restoring ZEC’s native privacy on the snappy Solana community.
“To no doubt make ZEC private on Solana, it wants to be re-wrapped into encrypted sources esteem eZEC, where balances and transfers are hidden, yet composable with Solana DeFi. That’s how ZEC’s long-established vision, privacy on the asset stage, can no doubt stay on Solana,” Encifher’s social media take care of Encrypto.commerce acknowledged in a put up on X.
Encifher makes employ of unheard of encryption to hide user balances and switch particulars on-chain. Transactions are secured and validated through zero-knowledge proofs, while sensitive files remains accessible most efficient to authorized events the usage of threshold decryption protocols.
This attain encrypts consumer balances with threshold ElGamal encryption and shops the encrypted files off-chain in a stable files availability layer, while the Solana blockchain handles cryptographic pointers to these balances with out exposing the exact values.
Imagine EIGama encryption as a cherish chest that opens most efficient when a obvious substitute of trusted company arrive along with their very dangle particular keys. This procedure that no single friend can access the chest alone, making certain added security.
The setup lets in users to maintain and switch encrypted ZEC tokens confidentially, effectively reworking Solana’s public blockchain real into a privacy-retaining environment that continues to be fully appropriate with decentralized finance applications. The machine prevents transaction linkability and address reuse by employing ephemeral accounts that exist for most efficient one transaction lifecycle, making prognosis by third events effectively not seemingly.
So, with Encifher, Solana users carry out a ability to reclaim ZEC’s long-established promise of asset-stage privacy on a blockchain known for sail and low payment, bridging primarily the most efficient of every and every worlds.
Encifher’s privacy-retaining points had been utilized on high of Jupiter, Solana’s leading decentralized alternate, enabling users to commerce encrypted tokens while retaining their privacy.
ZEC’s value has surged 380% to $375 this month, CoinDesk files boom. Per some observers, the moving rally has been catalyzed by the impending ZEC halving, the debut of Grayscale ZEC Belief and Hyperliquid list.
