Researchers have proposed a method to make Bitcoin transactions private without modifying the Bitcoin protocol itself. This solution, called Shielded Bitcoin, uses zero-knowledge proofs to hide the sender, receiver, and amount of a transfer, without requiring a soft fork or custodian. The mechanism relies on Bitcoin PIPEs, channels that enable this privacy directly on the existing blockchain. This remains a research proposal and not a finished product. The creators compare this approach to Monero and Zcash, and explore the trade-offs in terms of transaction fees and block space required.
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