Zcash-Style Private Payments on Bitcoin L1
In this talk, Misha Komarov introduces Shielded Bitcoin, a new metaprotocol for Zcash-style private payments on Bitcoin L1 without a soft fork, trusted operators, separate consensus network, or reliance on client-side state for recovery. Shielded Bitcoin uses encrypted notes, nullifiers, and zero-knowledge proofs to preserve the privacy of transaction participants, amounts, and transfer relationships, while using Bitcoin for canonical publication, ordering, and settlement. Misha will explain how Bitcoin PIPEs enable this architecture through covenants, non-interactive ZK-proof verification, and cryptographically controlled L1 vaults — and explore the broader design space this opens for payment metaprotocols on Bitcoin.