Shieldnet Launches with Zero-Knowledge Proofs for 45 ERC-20 Assets
Starknet has launched Shieldnet, its new privacy framework for ERC-20 assets. The system shields transaction details using client-side zero-knowledge proofs and encrypted notes. This allows users to selectively disclose information when required by regulators or auditors.
The STRK20 framework operates on a note-based ZK system, converting user assets into encrypted metadata that appear only as on-chain data. Unlike crypto mixers like Tornado Cash, Shieldnet enables selective disclosure through encrypted viewing keys.
Currently, 45 ERC-20 assets are supported by the framework, including strkBTC and USDC. Early engagement numbers show respectable usage with over 14,000 deposit transactions processed and approximately $350K in total value locked shortly after launch.