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NEAR has taken cross-chain privacy to new heights with Intents
On February 25th, NEAR Protocol took a significant step by launching a new feature called Confidential Intents. This feature keeps your transactions private during cross-chain trading and is designed to solve the longstanding issue in DeFi—trading transparency.
How Confidential Intents Work
NEAR’s new Intents feature operates in a unique way. The system creates a limited-visibility execution environment using NEAR’s private shards. This means that when you perform a trading transaction, your trading details remain completely hidden from external view during the settlement process. Intents keep your activity invisible.
Privacy Options Available with Intents
The best part of Confidential Intents is that you are in control. Users can easily switch between their main account and secret account within the app. You can enable privacy mode for the following operations:
Who Will Benefit from NEAR’s Intents Feature
According to BlockBeats, this new Intents capability is specifically designed for three types of users: institutional capital holders who have large positions and want to keep their trading information confidential, entrepreneurs looking to leverage new technologies, and advanced DeFi users skilled in cross-chain trading—all of whom will benefit from this new level of cross-chain position privacy.
NEAR’s move could be a significant step toward privacy in DeFi.