https://www.allocinit.xyz/uploads/shielded-bitcoin.pdf
RESEARCHERS PROPOSE “SHIELDED BITCOIN” FOR PRIVATE TRANSFERS DIRECTLY ON BITCOIN L1
The proposed metaprotocol would hide transaction amounts and counterparties without a soft fork, new blockchain, trusted operators or bridges.
Value is represented through encrypted “notes,” with transfers published to Bitcoin alongside zero-knowledge proofs verifying their validity.
Bitcoin itself only stores and orders the encrypted data, while separate software verifies the proofs and independently derives the Shielded Bitcoin state.
A companion paper will detail how bitcoin can enter and exit the shielded system using L1 security vaults via PIPEs.
RESEARCHERS PROPOSE “SHIELDED BITCOIN” FOR PRIVATE TRANSFERS DIRECTLY ON BITCOIN L1
The proposed metaprotocol would hide transaction amounts and counterparties without a soft fork, new blockchain, trusted operators or bridges.
Value is represented through encrypted “notes,” with transfers published to Bitcoin alongside zero-knowledge proofs verifying their validity.
Bitcoin itself only stores and orders the encrypted data, while separate software verifies the proofs and independently derives the Shielded Bitcoin state.
A companion paper will detail how bitcoin can enter and exit the shielded system using L1 security vaults via PIPEs.
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