StarkWare announces method for scaling Bitcoin through 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, StarkWare, known for its work on Starknet, has emphasized that its main goal is still to enhance Ethereum scalability using validity rollups and ZK proofs, despite its recent efforts to bring scalability solutions to the Bitcoin ecosystem.
In a recent post on Jun. 7, the $8 billion blockchain developer reaffirmed its dedication to improving Ethereum scaling by 2024, stating that it will focus on scaling Ethereum in the most effective manner possible.
Starknet, therefore, plans to cater to both the Ethereum and Bitcoin communities without introducing a new layer or token exclusively for Bitcoin. Instead, Starknet will function as an execution layer that scales both Bitcoin and Ethereum simultaneously.
StarkWare’s decision to introduce ZK scaling to Bitcoin is part of a larger strategy to tackle the scalability issues faced by major blockchains. With this new expansion, the developer behind Starknet aims 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 this solution within six months following the potential Bitcoin upgrade called 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.
