New Proposal Aims to Add Zcash-Style Privacy to Bitcoin Network
What happened
Alloc Init published a paper detailing Shielded Bitcoin, a proposal that seeks to integrate Zcash-style private transfers onto the Bitcoin network. The design would use encrypted notes for recipients and amounts, rather than relying on the usual public UTXO graph. Scott Odell, COO of Alloc Init, clarified that Shielded Bitcoin is not a mixer and is architecturally closer to Zcash than Tornado Cash.
From gizmodo.com
Why it matters
The proposal suggests that Shielded Bitcoin could enhance Bitcoin's core utility by adding privacy features without requiring a consensus-level change to the network. This introduces a new competitive option in the digital asset market by offering Zcash-style privacy on Bitcoin's base layer.
From gizmodo.com
Who's involved
- BitcoinThe digital cash system that the proposal aims to enhance with privacy features.
- Zcash FoundationThe privacy-focused cryptocurrency whose transfer style the proposal attempts to emulate.
- Tornado CashThe Ethereum-based protocol that the new proposal is compared against.
How this reaches others
Each traced step by step, with the reporting behind itKeep exploring
The entities involved
-
Bitcoin
digital cash system and associated currency
-
Ethereum
public blockchain platform with programmable transaction functionality
- Animoca Brands is contributing to the ecosystem with commitments, launching natively across multiple blockchains, and executive comments on product goals.
- A company involved in Bitcoin mining and aiming to be a leading Ethereum Treasury company is subject to regulatory developments affecting digital assets.
-
Zcash Foundation
nonprofit organization in McLean, United States