A Transaction Privacy Layer is a feature or technology that enhances the confidentiality of transactions within a blockchain network. Its primary purpose is to obscure details such as sender and receiver addresses, transaction amounts, and other identifying information, making it difficult for outsiders to trace or link transactions to specific individuals or entities.Various techniques are used to achieve this level of privacy. Some popular methods include zero-knowledge proofs, stealth addresses, and mixers. These tools often work by either hiding the transaction data itself or providing misleading information, ensuring that only the parties involved can verify and access the details.The need for privacy layers arises from concerns over surveillance and data misuse. Individuals and businesses may wish to keep their financial activities discreet for various reasons, including security, competitive advantage, or personal preference. As privacy regulations and public interest in data protection continue to grow, transaction privacy layers have become increasingly important in maintaining a user’s anonymity in blockchain transactions.
Ripple, Absa Partner to Launch Digital Asset Custody in South Africa
Ripple has entered a strategic partnership with Absa Bank to provide digital asset custody services to customers in South Africa,