StarkWare announces plan to increase Bitcoin scalability using Starknet without the need for forking or creating a new token
StarkWare has announced that its efforts to extend its scaling technology to the Bitcoin network will not lead to a fork in Starknet or the creation of a new token.
The developer of Starknet, StarkWare, made it clear that while it is working on scalability solutions for the Bitcoin ecosystem, its main focus remains on scaling Ethereum using validity rollups and ZK proofs.
In a recent announcement on Jun. 7, the $8 billion blockchain developer emphasized its commitment to improving Ethereum scaling efficiency by 2024, stating that it will strive to scale Ethereum in the most effective manner possible.
Rather than introducing a new layer or token exclusive to Bitcoin, Starknet plans to act as an execution layer that scales both Ethereum and Bitcoin simultaneously.
StarkWare’s decision to bring ZK scaling to Bitcoin is part of a larger strategy to tackle scalability issues faced by major blockchains. By expanding its technology from the Ethereum network, Starknet aims to create a single layer that supports both Bitcoin and Ethereum transactions.
The firm expects to complete the development of this solution within six months of the potential Bitcoin upgrade 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.
