Receive private payments from anyone on a single static address without requiring any interaction or extra on-chain overhead.
Update: This now has a BIP and WIP implementation
The recipient generates a so-called silent payment address and makes it publicly known. The sender then takes a public key from one of their chosen inputs for the payment, and uses it to derive a shared secret that is then used to tweak the silent payment address. The recipient detects the payment by scanning every transaction in the blockchain.