Solana’s public ledger makes wallet activity visible to anyone who knows an address. Privacy Rings, developed by infrastructure firm Helius and launched on Solana mainnet on November 10, 2026, aim to give users a private-balance option without moving funds to a separate network. The distinction for users is between confidential transfers available in the default Ring and the broader anonymity planned for Custom Rings.
How the default Ring works
A Ring is a shielded pool on Solana. According to the Solana Foundation, users can deposit SOL or supported Solana tokens, including SPL and Token-2022 tokens, transfer funds within a Ring, and withdraw to an ordinary public balance. Users retain custody: transactions require the owner’s signature. Private transfers execute on Solana, and encrypted data remains on its ledger rather than a separate layer-2 network.
Helius’ documentation distinguishes confidentiality from anonymity. The default Ring provides confidentiality: it encrypts the asset and amount of a transfer, but leaves sender and recipient addresses public. A zero-knowledge proof lets the network check a transfer’s validity without seeing the protected values. Rings use Groth16 zk-SNARKs; Helius says proofs can be generated in tens of milliseconds, either on a user’s device or by a service provider. Each private transfer settles in one Solana transaction. Despite the name, Privacy Rings do not use the ring-signature technique associated with Monero.
Users can read their encrypted balances with a viewing key and may share access to a single transaction with an auditor or counterparty. Moving funds between a public wallet and a Ring remains visible onchain, including the asset and amount. Helius says a supported provider can instead route a fiat on-ramp directly into a private balance, keeping those details hidden from the start.
What is available, and what remains planned
As reported in the original article, the default Ring was live on mainnet. Custom Rings—separate Solana programs intended for businesses and institutions—were still in audit, with mainnet availability expected in the following weeks, according to the Solana Foundation. Their configurable design could also hide sender and recipient identities and add controls such as KYC allowlists, sanctions screening, auditor access, and fund freezing and recovery. Those options should not be mistaken for features of the default Ring.
The article also described possible uses involving private escrows, swaps, lending, staking, and conditional payments. These are potential applications, not evidence that each was operational. At launch, Decrypt, ORE, and Aurora Intents were using the default Ring; Backpack, DFlow, Jupiter, Squads, and Titan were among teams working on integrations. Decrypt disclosed that it had partnered with Helius to offer confidential transfers in its Decrypt Money Account.
Security and visibility limits
Helius said Certora, OtterSec, and ZK Security had audited the core programs and zero-knowledge circuits. The code was published under the Apache 2.0 license, while formal verification was still underway and expected to finish by the end of 2026. Solana’s documentation described Rings as beta. Audits and open code do not eliminate implementation risk.
The default Ring’s public addresses and visible deposits and withdrawals also limit what an observer is prevented from learning. Helius worked with Range, Chainalysis, and Elliptic on wallet screening. The protocol’s design therefore offers selective confidentiality, not blanket anonymity.
Source: decrypt.co (originally published 2026-11-12 01:09 UTC+8)
