- Starknet plans to scale both Bitcoin and Ethereum using zero-knowledge proofs.
- Reaffirms its commitment to not forking Starknet or creating a separate Bitcoin token.
- Starknet aims to serve as a bridge between the Bitcoin and Ethereum ecosystems.
Starknet, a layer-2 scaling solution, has reaffirmed its commitment to scaling both Ethereum and Bitcoin using Zero-Knowledge (ZK) technology. The company emphasized its ongoing focus on scaling Ethereum since releasing its first validity rollup and unveiled an ambitious 2024 roadmap aimed at redefining Ethereum scaling.
The roadmap demonstrates Starknet’s commitment to developing STARK proofs that enhance the security and scalability of the blockchains it supports. Starknet views Ethereum and Bitcoin as the most decentralized and secure chains, embodying the true spirit of blockchain and cryptocurrency.
Starknet aims to bridge the two largest ecosystems in the crypto space, serving as a connecting layer. To achieve this vision, Starknet has clarified that it will not fork Starknet to build an additional layer on Bitcoin or create a separate token for the Bitcoin ecosystem. Instead, it will function as an execution layer that simultaneously scales both Bitcoin and Ethereum, utilizing the STRK token for ecosystem, governance, and security purposes.
Currently, Starknet is the seventh-largest Layer 2 network on Ethereum, with $1.12 billion in Total Value Locked (TVL), according to L2Beat data.
Coin Edition had recently reported that Teneo, the liquidator for Three Arrows Capital, transferred $2.63 million worth of STRK to Binance, maintaining a value of $157 million.
The Starknet Foundation has been actively promoting the ecosystem by granting 20 million STRK tokens to 21 of its network’s top-performing projects. This program fosters innovation while strengthening the overall ecosystem, driving further expansion.
Starknet’s focus has evolved from solely scaling Ethereum to now encompassing both Ethereum and Bitcoin.
As the company succinctly put it, “Yesterday: STARK proofs for the win of Ethereum. Now: STARK proofs for the win of both Bitcoin and Ethereum.”
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