JEP 481: Third Preview of Scoped Values API Brings Key Enhancements in JDK 23
Briefly

Scoped values enable sharing immutable data efficiently, favoring virtual threads, offering clean code, and improved performance in data-sharing scenarios.
Thread-local variables, while long-standing, face issues like unconstrained mutability leading to inconsistencies and unbounded lifetime causing memory leaks.
Read at InfoQ
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