Starknet is about to reach an unprecedented scale. For the first time ever, an L2 will settle on both Bitcoin & Ethereum, bridging the two largest blockchain ecosystems on a single layer. We are unlocking greater liquidity and new DeFi opportunities, such as lending, borrowing, native staking, payments, and more.
Bitcoin is the OG of crypto and the ultimate store of value. Yet, its true potential remains largely untapped; today, only ~1% of BTC is used for anything other than holding or trading.
Most Bitcoin remains HODLed in wallets & CEX due to high transaction fees on the base layer, and limited DeFi options.
Bitcoin should be cheap and easy to use. This is exactly what Starknet is building for Bitcoin. How? By becoming the execution layer for Bitcoin.
Starknet as a Bitcoin L2 will improve performance and utility dramatically:
* 7 TPS → thousands of TPS (and constantly growing)
* 10 minutes block time → 2 seconds
* $2 gas fees → $0.002
* Bad UX → a smooth web2-like UX
* Limited DeFi → native and secure DeFi
All secured by STARK proofs and ZK tech, the most advanced and quantum-resistant proving system. As a unifying layer, Starknet will offer exclusive features, becoming the go-to chain for the community to benefit from the innovations brought by both ecosystems.
This means more users and liquidity, which attracts more developers and projects, which in turn brings even more users and liquidity… 🔄 a real virtuous cycle.
In 2013, Eli Ben-Sasson, StarkWare's co-founder and CEO, introduced the idea of using ZK proofs to scale blockchain for the first time at the Bitcoin conference in San Jose. This isn’t a new narrative for us: we’ve been building towards it for over a decade.
To successfully achieve our vision, we are committed to developing the best possible bridge at all times.
1️⃣ Reputable multisig bridges to bring Bitcoin assets to Starknet (coming very, very soon 👀).
2️⃣ The best BitVM-powered bridge (the most secure Bitcoin bridge possible today).
3️⃣ In parallel, we will continue supporting research on OP_CAT, funding related public goods, and fully preparing to deploy a native and fully trustless Bitcoin bridge if OP_CAT is accepted.
We build with what’s possible right now while simultaneously working on future innovative technology. We have also established many partnerships with top Bitcoin projects, like Xverse, and are collaborating to build unique product offerings. All of this will roll out in the coming weeks.
Last, StarkWare, the primary contributor to Starknet, is establishing strategic BTC and ETH reserves and plans to continue accumulating over time.
We proudly stand with the Bitcoin and Ethereum ecosystems and growing alongside them.
Follow us on our socials to stay updated with our journey towards mass adoption of Bitcoin.
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