Starknet to settle on Bitcoin and Ethereum to unify the chains
12 Mars 2025 - 3:57AM
Cointelegraph
Ethereum layer 2 Starknet is laying the groundwork to settle on
Bitcoin and Ethereum to unify the two largest blockchains on a
single layer.
The Starknet Foundation said in its March 11
Bitcoin roadmap that it’s aiming for Starknet to become
Bitcoin’s
execution layer, scaling it from 13 transactions per second to
thousands, reducing blocks and gas fees, and creating a better user
experience.
“Most Bitcoin today sits static in wallets and exchanges,
constrained by the limitations of the network’s original design: a
lack of scalability and an inability to natively support
applications beyond simple buying, selling, and transferring,” the
foundation said.
It added that while some investors view Bitcoin as “digital
gold,” it believes “there is a demand for utilizing Bitcoin for
purposes beyond that.”
Source: Starknet
Previously, StarkWare CEO Eli Ben Sasson, the company behind the
STARK proof that contributes to the development of Starknet, said
OP_CAT, a
Satoshi-era opcode for unlocking programmability on Bitcoin that
was disabled over security concerns, would allow
Starknet to settle on the Bitcoin blockchain.
If successful, Starknet said the move would allow developers to
build applications on the Bitcoin network through smart contracts
and enable applications such as staking, borrowing, lending,
leveraged trading, and yield farming.
As part of the announcement, StarkWare said it has joined the
growing number of firms in creating a Bitcoin
(BTC) reserve, holding a
growing portion
of its treasury in crypto.
Source: Ameen
Soleimani
Starknet will also team up with Bitcoin Web3
wallet Xverse, whose founder and CEO Ken Liao said the
integration, slated for the second quarter of 2025, will achieve
Bitcoin’s “DeFi take-off moment.”
Xverse said wallets
need to be more than just storage solutions; and allow easy access
to Bitcoin’s growing utility. Liao said in a statement that the
endgame is trustless DeFi on Bitcoin.
Related: Unknown attacker causes headaches during Pectra
upgrade on Sepolia
“In today’s environment, there is a temptation for wallet teams
to say, ‘yeah, let’s just focus on making it easier for people to
use Bitcoin as a store of value,’” Liao said.
“But the long-term future of Bitcoin also includes utility, and
that’s why layer 2 solutions must reach the public via the wallets
they actually use,” he added.
Meanwhile, in a March 11 X space discussing Starknet’s plan,
Ethereum co-founder Vitalik Buterin said a proper
Bitcoin L2 that can satisfy the needed security properties would
“make crypto payments great again, and all those use cases can
work.”
Buterin said there is a “lot of value” in enabling the trustless
flow of assets between the Bitcoin and Ethereum ecosystems, such as
easier paths for decentralized exchange.
“If you go back to the white paper, Bitcoin was meant to be a
peer-to-peer electronic cash system, and obviously, layer 1 is not
nearly scalable enough for that,” Buterin said.
“I think we’ve also seen some of the limits of the Lightning
Network and that kind of approach.“
Magazine: MegaETH launch could save Ethereum… but at what
cost?
...
Continue reading Starknet to settle on Bitcoin and
Ethereum to unify the chains
The post
Starknet to settle on Bitcoin and Ethereum to unify
the chains appeared first on
CoinTelegraph.
Bitcoin (COIN:BTCUSD)
Graphique Historique de l'Action
De Fév 2025 à Mar 2025
Bitcoin (COIN:BTCUSD)
Graphique Historique de l'Action
De Mar 2024 à Mar 2025
