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Researchers Propose 'Shielded Bitcoin': Introducing Zcash-style Privacy to Bitcoin Without Soft Forks

On September 27, CryptoPotato reported that the Alloc Init team has proposed a meta-protocol called 'Shielded Bitcoin,' which can hide BTC transaction amounts and counterparties without modifying Bitcoin's consensus rules or relying on trusted cross-chain bridges. The solution draws on Zcash's encrypted note mechanism: during a payment, the wallet publishes encrypted notes and zero-knowledge proofs to the Bitcoin network, proving the existence of the notes, the right to spend them, and that the amounts balance, without disclosing details. An off-chain 'indexer' verifies the proofs and tracks anti-double-spend null values, allowing anyone to run it without a single entity controlling the ledger. The wallet is divided into spending keys, read-only keys, and historical recovery keys, enabling users to share limited transaction information without relinquishing spending authority.

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