Full paper: https://www.allocinit.xyz/uploads/shielded-bitcoin.pdf Companion blog post: https://allocinit.notion.site/Shielded-Bitcoin-Private-Transfers-on-Bitcoin-L1-3e436974087f80f586acf2462bc547a5

This reads like they're just using bitcoins blockchain as their ledger

👀

Just another sidechain pretending to be Bitcoin.