How a Terlos note is built: commitments, blinding and the note tree Your private balance in Terlos isn't a number stored somewhere. It's a set of notes, a bit like private banknotes that only your wallet can see. A note holds four things an amount, the owner key of the address it belongs to, a random value called the blinding, and for tokens, the asset id. Terlos hashes all of that with RPO into a single 32 byte value called the commitment. The commitment is what goes on chain. Without the blinding nobody can guess what's inside, not even by trying every possible amount. Every commitment is appended to one Merkle tree, the note tree. It's 20 levels deep, which gives room for about a million notes, and every node is an RPO hash of the two below it. The root of that tree is stored in the Terlos registry contract on Stacks, and it changes only when a valid proof adds new notes. When you spend a note, you prove in zero knowledge that you know a note whose commitment sits somewhere in that tree under a known root, and that you hold its key. You never say which leaf it is. So the chain sees a growing list of commitments that look like random numbers. Only the owner of a note knows its amount, and only the owner can spend it. docs.terlosonstacks.xyz/docs…