StarkWare announces innovative approach to scaling Bitcoin on Starknet without the need for forking or creating a new token
StarkWare has announced its intention to extend its scaling technology to the Bitcoin network without causing a split in Starknet or introducing a new token.
The developer behind Starknet, StarkWare, has clarified that its main focus remains on enhancing Ethereum scalability through the use of validity rollups and ZK proofs, despite its efforts to bring scalability solutions to the Bitcoin ecosystem.
In a recent post on Jun. 7, the blockchain developer, valued at $8 billion, emphasized its dedication to improving Ethereum scalability by 2024, stating that the company “will work towards scaling Ethereum in the most efficient manner possible.”
Starknet aims to cater to both the Ethereum and Bitcoin communities without introducing a new layer or exclusive token for Bitcoin. Instead, Starknet will function as an execution layer that scales both Bitcoin and Ethereum simultaneously.
StarkWare’s initiative to implement ZK scaling on Bitcoin is part of a broader strategy to tackle the scalability issues faced by major blockchains. With this expansion, the Starknet developer plans to utilize its technology from the Ethereum network to create a “single layer that settles on both Bitcoin and Ethereum.”
The company expects to complete the development of the solution within six months after the potential Bitcoin upgrade known as OP_CAT, which aims to incorporate smart contracts into the Bitcoin ecosystem.
For more information, the Starknet Foundation has launched a $5 million grant program.
