According to Wu, Clara Shikhelman, Mikhail Komarov, and Aleksei Moskvin have proposed Shielded Bitcoin, a meta-protocol enabling private transfers on Bitcoin L1 without requiring a Bitcoin soft fork, a new blockchain, or trusted operators. This solution uses encrypted notes, nullifiers, and zero-knowledge proofs to conceal transaction amounts, senders, recipients, and the specific notes being spent. Transactions are verified by an indexer that anyone can run, preventing double-spending without controlling users' funds. On-chain, you can still observe the transaction time, number of notes, fees, and the Bitcoin transaction carrying the data. Currently, the solution only supports internal transfers within the privacy system, while the mechanism for BTC entry and exit will be explained in a follow-up paper based on PIPEs. https://(wublock123.com)/news/shielded-bitcoin-privacy-transfers-on-bitcoin-l1-no-softfork-68974