StarkWare has said that its plan to extend its scaling technology on the Bitcoin network will not result in a fork of Starknet, or a creation of a new coin.
StarkWare. The creator behind StarknetThe company clarified its main focus is on scaling Ethereum By using validity rolls up and ZK proofs Even though it has tried to provide scalability to the Bitcoin ecosystem.
You can also find out more about the following: an X post On Jun. 7th June, the $8 billion-valued blockchain developer stated that it was committed to increasing the efficiency and effectiveness of Ethereum scaling by 2024. “will strive to scale Ethereum in the most efficient way possible.”
“Our goal, consistent since the initiation of Starknet, is to develop STARK proofs to enhance the scalability and integrity of blockchains that we believe in.”
StarkWare
Starknet is aimed at serving both Ethereum and Bitcoin without creating an exclusive layer for Bitcoin. Starknet instead will be an execution layer scaling both Bitcoin and Ethereum.
“StarkWare won’t fork Starknet to create a new layer on Bitcoin or establish an exclusive token for the Bitcoin ecosystem. Instead, Starknet will (try to) act as an execution layer that scales both Bitcoin and Ethereum simultaneously. Its security, governance, and ecosystem will all be driven by the STRK token.”
StarkWare
StarkWare’s effort to introduce ZK scaling for Bitcoin is part of a larger strategy to tackle the challenges that major blockchains face in terms of scalability. Starknet’s new initiative aims to use its Ethereum technology to create a network that is scalable. “single layer that settles on both Bitcoin and Ethereum.”
The company anticipates After the Bitcoin potential, the developer must complete the solution in six months. upgrade Also known as OP_CATSmart Contracts is a project that seeks to incorporate smart contracts in the Bitcoin ecosystem.
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Source: crypto.news