The Solana v1.16 update introduces the "Confidential Transfer" feature and enhances user privacy.

According to BlockBeats news on October 8, Solana's v1.16 update has introduced "Confidential Transfers" functionality, which enhances user privacy through encrypted SPL token transactions. This is a new token program introduced by Token2022, aimed at enhancing Solana's current token functionality. This allows people to conduct blockchain transactions without revealing key transaction details, such as transaction amounts. According to a blog post by Helius Labs, a Solana infrastructure provider, and after ten months of development and auditing by blockchain security company Halborn, the v1.16 update for Solana's Layer 1 Proof of Stake blockchain has recently been adopted by over half of the validators. Since June, the v1.16 version has been running on the test network.