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SOL Surges 4% on Strategic Blockchain Upgrade
The Solana Foundation has introduced SPL Token Extensions to enhance the Solana blockchain network’s capabilities and user experience.
The update includes Transfer Hooks, Transfer Fees, Confidential Transfers, Permanent Delegate Authority, and Non-Transferability.
These features provide detailed control over token transactions, new revenue streams, enhanced privacy, stringent control mechanisms, and restricted token transfers for specific use cases.
Major industry players like Paxos and GMO-Z.com Trust Company Inc. are using these functionalities to issue stablecoins on the Solana blockchain, highlighting the platform’s growing appeal for enterprise-grade applications in the Web3 space.
(With inputs from Shikha Singh)
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