The Elusiv team has added a confidential asset swap function to its namesake Solana-based application. The Block.
The new solution enables token swaps without revealing the public wallet address on the blockchain.
The feature aims to lower counterparty risk by using zero-knowledge proofs to encrypt the public keys.
As a result, the exchanged amounts cannot be linked to actual wallet addresses.
"Both users and experienced traders can hide the history of their transactions, trading strategies and assets, separating token swaps from public keys. This paves the way for open and fair DeFi," — said Elusiv co-founder Julian Deshler.
In the Elusiv app, users must fund a private balance before sending or swapping — all steps without revealing the public key.
The procedure involves using a temporary key, acting as a disposable account, which removes the link between the user’s public key and encrypts the source of the operations.
"Elusiv Privacy represents the future of blockchain transactions — […] a combination of privacy […], efficiency and instant settlements," — said Solana co-founder Anatoly Yakovenko.
Earlier he allowed using Ethereum as a second-layer solution for the Solana blockchain.
Earlier, privacy-focused Web3–startup Ola raised $3 million in a seed funding round. The company offers "optional" privacy through hybridZK-rollups (ZK-ZKVM).