{"id":157045,"date":"2024-01-25T18:12:42","date_gmt":"2024-01-25T18:12:42","guid":{"rendered":"https:\/\/www.techopedia.com\/?p=157045"},"modified":"2024-01-25T18:31:22","modified_gmt":"2024-01-25T18:31:22","slug":"solana-announces-token-extensions","status":"publish","type":"post","link":"https:\/\/www.techopedia.com\/solana-announces-token-extensions","title":{"rendered":"Solana Announces ‘Token Extensions’\u2014 What Are They? How Do They Work?"},"content":{"rendered":"

Solana<\/a> (SOL) introduced a new token program called “token extensions”, which promises to bring advanced functionality and features such as confidential transactions, non-transferable tokens, transfer fees, and more.<\/p>\n

With Solana taking plenty of attention in the crypto world, it’s worth understanding what these new features bring to the Layer 1<\/a> blockchain.<\/p>\n

Solana’s token extension upgrade, announced yesterday, is aimed at enterprise blockchain<\/a> users and institutional clients that require added token functionality to meet their business needs and compliance obligations.<\/p>\n

Most notably, the token extension upgrade will allow token issuers to issue permissioned tokens on a permissionless<\/a> public blockchain like Solana.<\/p>\n

Let’s learn what token extensions on Solana are all about. We will also discuss the use cases and benefits of Solana’s upgrade.<\/p>\n

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Key Takeaways<\/span><\/h2>\n