Sui Network is taking significant steps towards enhancing privacy on its blockchain by 2026, responding to rising concerns about quantum computing and regulatory pressures. The source reports that this initiative aims to ensure that users can conduct confidential transactions while remaining compliant with regulations.
Confidential On-Chain Payments
The proposed design of Sui Network will facilitate on-chain payments that maintain full confidentiality, allowing only the sender and receiver to access transaction details. This approach eliminates the need for users to opt in, streamlining the process and enhancing user experience.
Addressing Quantum Computing Concerns
This move comes amid growing industry apprehensions regarding the potential impact of quantum computing on existing cryptographic systems. As the security of Bitcoin and other cryptocurrencies could be compromised by advancements in quantum technology, Sui Network's proactive measures to implement privacy transactions are becoming increasingly crucial in safeguarding user data.
In a recent development, Vitalik Buterin announced a significant evolution for the Ethereum network, introducing the Zero-Knowledge Ethereum Virtual Machine (zkEVM) to enhance scalability and security. This contrasts with Sui Network's focus on privacy measures; for more details, read more.
