Introducing private Bitcoin
TLDR: Aztec has partnered with Ren to bring private Bitcoin to Ethereum
We are incredibly excited to partner with Ren to add renBTC into the Aztec private rollup. The Aztec private rollup — accessible through zk.money — enables fully private transactions on Ethereum. Integrating renBTC enables users to privately send, receive, and hold BTC on Ethereum mainnet for the first time in the history of Ethereum.
“For greater privacy, it’s best to use Bitcoin addresses only once” — Satoshi Nakamoto, 2008
“For the best privacy, shield your BTC using renVM and zk.money” — Aztec, 2021
To celebrate the launch and let users explore zkrenBTC, we will be subsidising all renBTC transaction fees on the network until July 9th 2021.
Aztec x Ren
Ren and Aztec share a core set of values that emphasise financial freedom.
This is clear in the design choices made by both protocols:
Trust code not people — The RenVM provides interoperability between blockchains in a fully non-custodial manner. zk.money — also non-custodial — operates all transactions through a layer of zero-knowledge proofs, thereby helping users preserve their privacy.
Zero-Knowledge Security — Ren’s network has been designed with a high resistance to attacks. By leveraging MPC cryptography, Ren’s network of participants secures private keys and enables Darknodes to become a secure custodian of user assets. Aztec invented PLONK, a cutting-edge zero-knowledge implementation letting users’ funds and data stay protected from the public.
How to shield your renBTC on Aztec
Aztec users can now shield and transact with renBTC on zk.money:
- Deposit BTC into the RenBridge
- Receive renBTC (ERC-20 token)
- Connect your wallet to zk.money
- Shield renBTC in the app
You now have zk-renBTC. You can send it privately through zk.money and “unshield” back to L1 at any time.
Over the coming months, Aztec and Ren are excited to develop the partnership with more assets and tighter integrations on top of Ethereum.
We’re thrilled to build together and create the technology bridges that grow Ethereum to its next phase of scalability, and usability.
Try private BTC on zk.money today!
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