Table of Contents
Toggle
StarkWare Introduces Zk Rollups to Bitcoin
Long internal discussions within the team
According to The Block’s report, blockchain technology developer StarkWare announced today that it will introduce the zero-knowledge proof (Zk) scaling solution to the Bitcoin ecosystem, allowing Starknet to settle transactions on both Ethereum and Bitcoin simultaneously. Eli Ben-Sasson, CEO and co-founder of StarkWare, stated in a release:
The team emphasizes that this plan will not create an additional blockchain network, but rather utilize the same Starknet network with the same governance and token economics, and support Bitcoin scaling without forking. Each dApp can choose which ecosystem it wants to build on.
In addition, StarkWare also announced that it will provide a $1 million application fund for Bitcoin researchers interested in participating in the project, with applications opening in a few weeks.
The team shared with The Block that the plan for Bitcoin scaling has been discussed internally at StarkWare for a long time. Ben-Sasson gave a speech on this issue at a Bitcoin conference as early as 2013.
StarkWare stated that Bitcoin was not ready for STARK before, while Ethereum was already prepared, which is why StarkWare focused solely on Ethereum scaling. However, with the Taproot upgrade in November 2021, many “restrictive features” have been removed, allowing for further experimentation and innovation. Ben-Sasson stated in the release:
Furthermore, Ben-Sasson reiterated that OP_CAT, the opcode proposal that has recently garnered significant attention in Bitcoin discussions, is the best approach for Bitcoin scaling solutions.
Successful Conclusion of CoinEx Taiwan’s 7th Anniversary Celebration, Embracing the Arrival of the Web3 Era Hand in Hand with Users
Since its establishment in 2017, CoinEx has been a professional cryptocurrency trading pla…