Researchers at the firm [[alloc] init] published on September 24, 2026 a 56-page specification for Shielded Bitcoin, a protocol for private transfers on the Bitcoin base layer. The design borrows Zcash’s encrypted notes and zero-knowledge proofs without requiring changes to Bitcoin’s consensus rules. Each transfer generates a zero-knowledge proof of 625 vbytes published in an OP_RETURN output, hiding the sender, recipient and amount. The mechanisms for entering and exiting the shielded system remain to be defined in a separate paper.
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