2025-06-13 –, Side Stage - Cinema 7
Bitcoin PIPEs (Polynomial Inner Product Encryption) is a new cryptographic primitive designed using special-purpose functional encryption and zero-knowledge proofs to enable both covenants and ZKPs on Bitcoin, without the need for altering the core protocol. The method proposed involves generating unique keys and signatures that are conditionally valid based on the satisfaction of proof conditions. This approach not only overcomes the current limitations of Bitcoin Script, but also opens up new possibilities for implementing new kinds of applications on the Bitcoin L1 (via application-specific Bitcoin PIPEs covenants) alongside true Bitcoin zkRollups, new token standards, and novel staking protocols.
White paper: https://www.allocin.it/uploads/placeholder-bitcoin.pdf
Misha is the founder and CEO of [[alloc] init], a cryptography research and development company building Bitcoin PIPEs, a primitive that leverages special-purpose functional encryption and ZKP cryptography to bring expressivity to Bitcoin. Previously, Misha was founder and CEO at =nil; Foundation, responsible for the company's zkSharding zkRollup, zkLLVM, and Placeholder proof system. Prior to =nil;, Misha was on the founding team at Lido staking protocol.