TLDR:
- VerifiedX introduces Prism to enable encrypted balances and confidential transfers across its blockchain network.
- Prism supports private transactions for vBTC and VFX while maintaining verifiability through cryptographic methods.
- Users can switch between private and public transaction modes based on their needs within the network.
- Viewing keys allow selective disclosure, giving users control over sharing specific transaction details securely.
VerifiedX has introduced Prism, a native privacy layer designed to support encrypted balances and confidential transfers across its network.
The update brings private transaction features for vBTC and VFX while maintaining on-chain verification and audit processes.
Prism Introduces Native Privacy Features
According to a post shared by Wu Blockchain on X, VerifiedX confirmed the rollout of Prism as part of its network upgrade.
The privacy layer enables users to transact using encrypted balances, keeping transaction details shielded from public view.
Prism allows private addresses and supports shielded-to-shielded transfers within the network. This structure ensures that both sender and receiver details remain hidden during transactions. At the same time, users can switch between transparent and private states when required.
The system also introduces viewing keys for selective disclosure. These keys allow users to share specific transaction details with authorized parties without exposing full account activity. As a result, users maintain control over their financial data while meeting verification needs.
In addition, Prism supports private transactions for vBTC, which VerifiedX describes as a fully collateralized native Bitcoin asset. The native token VFX also benefits from the same privacy features, enabling consistent functionality across the ecosystem.
Balancing Privacy With Verifiability
The design of Prism focuses on maintaining privacy without removing transparency at the network level. While transaction details remain hidden, the system still allows verification through cryptographic methods.
This ensures that balances and transfers can be validated without revealing sensitive data.
Wu Blockchain’s update noted that Prism aims to protect counterparties, transaction amounts, and activity patterns. These protections address common concerns about data exposure on public blockchains.
At the same time, the network continues to support auditability for compliance and monitoring purposes.
Users can toggle between private and public transaction modes depending on their needs. This flexibility allows participants to choose how their transactions appear on-chain.
It also supports different use cases, from routine transfers to more sensitive financial activities.
Prism’s encrypted balance system plays a central role in this setup. Instead of displaying exact amounts publicly, balances remain hidden while still being mathematically verifiable.
This approach aligns with the broader goal of combining privacy tools with blockchain transparency.
The introduction of Prism marks a step toward expanding privacy options within the VerifiedX ecosystem. By integrating these features directly into the network, the platform provides users with built-in tools rather than relying on external solutions.
