[[alloc] init] Proposes Shielded Bitcoin for Private BTC Transactions
- —Protocol uses OP_RETURN and nullifier sets instead of UTXOs to prevent double-spending
- —Privacy is on par with Zcash shielded pools, without periodic remixing like coinjoins
- —Users need only a Bitcoin node and a Shielded Bitcoin indexer, with no custodians
- —The peg relies on PIPEs v2 witness encryption, avoiding federations or operators
Why it matters: If it works, Bitcoin gains strong privacy without a consensus change, sharpening competition with Zcash and Monero.
Source: Bitcoin Magazine