BlindSats was launched on September 26th as a altcoin on the BTC protocol. On October 1st, I saw a group friend post and happened to be in front of my computer. I typed a little bit and the brief record is as follows BlindSats aims to build a privacy asset transfer protocol similar to Zcash on Bitcoin L1 without modifying the Bitcoin consensus or creating a new chain. Its concept is Anyone can verify. No one can see The project is divided into three steps: The first step is to issue BLIND tokens as native assets (token information is provided later), accumulate initial users to form a community, and achieve a cold start ✅ Mint completed on October 1st The second step is to use zero knowledge proof (ZK), encrypted notes, Nullifier and other technologies to enable private transfer of BLIND tokens, including hiding the sender, receiver, amount, and the correlation between different transactions. Bitcoin is only responsible for publishing and sorting data, and does not require modifying consensus ✅ On October 14th, the claim and transfer functions will be launched, enabling both public and private transfers The third step is to enable native BTC (sats) to enter and exit this privacy system without trust, enabling Bitcoin native privacy transfer ⏳ To make BTC → Blind Sats → BTC, a peg in/peg out bridge is needed; There is currently no final answer on how to design this bridge. The team discussed solutions such as Federation, BitVM2, Covenant, PIPE, and statechain, and acknowledged that each of these solutions has some issues. Therefore, Blind Sats is a future work that needs to overcome technical problems Regarding the Blind token, the basic information is as follows: Token ticker: BLIND Total amount: 21000000 tokens, 21000 mints in total, with 1000 tokens per mint Mint method: supports minting with BTC, BRC-20 Ordi, Runes protocol Dog Theoretical cost: The first mint is $1.00, and with each additional mint, the price increases by+$0.01. Therefore, the final mint is $210.99. The initial theoretical market value is $2225895 Actual cost: In fact, the project party collected a total of 0.26974696 BTC+26211.01 ORDI+820993 DOG, plus BTC network fees paid by everyone during the mint process. I estimate the total to be less than 300000 US dollars ◦ Price: Currently, the over-the-counter (OTC) price is around $0.18 per token ◦ Trading Platform: The official trading platform is expected to be launched on October 21st Wallet: There are no other wallets that support the Blind protocol yet. Checking balance and transferring must go through the official website BlindSats.com Developer information: Anonymous, and there is no official information available There are currently nearly 500 addresses publicly holding BLINDs (holding a total of 13020992.7580 BLINDs), which can be seen on the official website; The address and number of tokens held privately cannot be viewed. BLIND tokens can be exchanged between public and private states, but the cost varies Privacy proof is required for private to private, public, and public to private transactions, and the network transaction fee is relatively high. I have tried it, and in the case of Fee rate=1.00 sat/vB, a private transfer requires a Bitcoin network transaction fee of about $13 ◦ Public → Public, no privacy proof required, just normal BTC transfer, much cheaper Today, I saw a detail on the official website. The developer registered the blind.sats ID on the BTC chain on March 4, 2023, so he claimed on the website that he completed the "project block" on that day. Similarly, BRC-20 addresses how to issue and transfer homogeneous tokens on Bitcoin, while Blindstats attempts to address how to make asset transfers/payments on Bitcoin private, which is a new direction.