Mysten Labs has unveiled a prototype of the new Tessera network for confidential payments. This solution is designed for making payments between large corporations. The main feature of the network is the concealment of transaction amounts from outside observers. The publicity of financial data remains the main obstacle to the use of blockchain in business. Competitors should not see each other's pricing and transaction volumes. The new technology solves this long-standing problem of corporate clients. The basic architecture relies on multi-party computing and secure transfers. A closed group of trusted companies performs calculations in a special stablecoin. The blockchain reliably records the fact of the payment itself between the two participants. At the same time, the exact amount of money remains completely hidden for the network.

The counterparty always sees the full amount of their transaction for reconciliation purposes. Regulators receive special, limited access to financial information. Prudential supervision can see all transactions within this closed network. The tax authority receives detailed information only about a specific participant in the calculations. The dispute arbitrator has access to only one disputed transaction during the proceedings. No external participant can independently move other people's funds. Network operators retain important management functions for the entire consortium of participants. They can connect new users or freeze suspicious corporate accounts. The network confidently supports both one-time transfers and periodic payment channels. The Tessera prototype code is completely open to independent developers and auditors.

In May, the Sui team has already removed the fees for the transfer of stablecoins. Now they offer a full-fledged infrastructure for closed business settlements.

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The material has been prepared solely for informational purposes and does not constitute financial advice or recommendation.