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Explain the concept of confidential transactions in blockchain.

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Confidential transactions in blockchain are a privacy-enhancing technique that allows for secure and private transactions on a public ledger. This concept enables users to make transactions without revealing the transaction amount to the public. It achieves this by using cryptographic techniques to encrypt the transaction amounts while still ensuring the validity of the transaction. This way, the privacy of the transacting parties is protected, and sensitive financial information is kept confidential on the blockchain.
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