Twin-field (TF) quantum key distribution (QKD) was conjectured to beat the private capacity of a point-to-point QKD link by using single-photon interference in a central measuring station. This remarkable conjecture has recently triggered an intense research activity to prove its security. Here, we introduce a TF-type QKD protocol which is conceptually simpler than the original proposal. It relies on local phase randomization, instead of global phase randomization, which significantly simplifies its security analysis and is arguably less demanding experimentally. We demonstrate that the secure key rate of our protocol has a square-root improvement over the point-to-point private capacity, as conjectured by the original TF-QKD scheme.