BitSNARK is a new privacy protocol that enables transaction verification without revealing sensitive information. Through zk-SNARKs, users can ensure their transactions are secure, while remaining anonymous. This is the first time zk-SNARKs technology has been implemented in Bitcoin, creating a new era for privacy in blockchain.

Previously, the transparency of transactions on the Bitcoin network made them easy for anyone to trace. While this increased security, many users were concerned about the privacy of their data. BitSNARK serves as a solution to this problem while maintaining the decentralized nature of Bitcoin.