Ethereum layer 2 Starknet is making significant strides towards settling on Bitcoin and Ethereum to merge the two leading blockchains onto a single layer. The Starknet Foundation outlined in its March 11 Bitcoin roadmap its goal for Starknet to serve as Bitcoin’s execution layer, enhancing scalability from 13 transactions per second to thousands, reducing blocks and gas fees, and improving user experience. According to the foundation, a large portion of Bitcoin currently remains stagnant in wallets due to the network’s original design constraints, limiting its functionality to basic transactions. Starknet aims to expand Bitcoin’s utility beyond being considered “digital gold.” StarkWare CEO Eli Ben Sasson previously mentioned that the activation of OP_CAT, an opcode deactivated due to security concerns, could enable Starknet to operate on the Bitcoin blockchain. This move would allow developers to create applications on the Bitcoin network through smart contracts, facilitating activities such as staking, borrowing, lending, leveraged trading, and yield farming. As part of this initiative, StarkWare revealed plans to hold a significant portion of its treasury in Bitcoin. Additionally, Starknet will collaborate with Bitcoin Web3 wallet Xverse to introduce integration aimed at establishing Bitcoin’s significant role in decentralized finance (DeFi). Xverse advocates for wallets to offer more than just storage and enable convenient access to Bitcoin’s expanding utility, ultimately envisioning trustless DeFi on the Bitcoin network. Ethereum co-founder Vitalik Buterin expressed optimism about a proper Bitcoin Layer 2 solution meeting necessary security standards, potentially revolutionizing crypto payments and enabling seamless asset transfers between the Bitcoin and Ethereum ecosystems. Buterin emphasized the importance of scalability for Bitcoin to fulfill its original vision as a peer-to-peer electronic cash system. The convergence of Starknet with Bitcoin and Ethereum signifies a significant development in the blockchain space, promising enhanced functionality and interoperability between the two prominent networks.<\/p>\n","protected":false},"excerpt":{"rendered":"
Ethereum layer 2 Starknet is making significant strides towards settling on Bitcoin and Ethereum to merge the two leading blockchains onto a single layer. The Starknet Foundation outlined in its March 11 Bitcoin roadmap its goal for Starknet to serve as Bitcoin’s execution layer, enhancing scalability from 13 transactions per second to thousands, reducing blocks […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[25],"tags":[],"aioseo_notices":[],"featured_image_urls":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":""},"author_info":{"display_name":"","author_link":"https:\/\/vanillanews.com\/index.php\/author\/"},"category_info":"JUST IN<\/a>","tag_info":"JUST IN","comment_count":"0","_links":{"self":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/posts\/74624"}],"collection":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/comments?post=74624"}],"version-history":[{"count":0,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/posts\/74624\/revisions"}],"wp:attachment":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/media?parent=74624"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/categories?post=74624"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/tags?post=74624"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}