StarkWare has announced its intention to extend its scaling technology to the Bitcoin network without causing a fork in Starknet or introducing a new token.
The developer, StarkWare, known for its work on Starknet, has clarified that its main focus is still on scaling Ethereum using validity rollups and ZK proofs, even as it works to bring scalability solutions to the Bitcoin ecosystem.
In a recent post on June 7th, the $8 billion blockchain developer emphasized its dedication to improving Ethereum scaling by 2024, stating that the company will aim to scale Ethereum in the most effective manner possible.
Starknet, therefore, plans to cater to both the Ethereum and Bitcoin communities without introducing a new layer or exclusive token for Bitcoin. Instead, Starknet will function as an execution layer that scales both Bitcoin and Ethereum simultaneously.
StarkWare’s decision to implement ZK scaling on Bitcoin is part of a larger strategy to tackle scalability issues faced by major blockchains. With this expansion, the Starknet developer intends to utilize its technology from the Ethereum network to create a single layer that facilitates transactions on both Bitcoin and Ethereum.
The company expects to complete the development of this solution within six months following the potential Bitcoin upgrade known as OP_CAT, which aims to incorporate smart contracts into the Bitcoin ecosystem.
To learn more, the Starknet Foundation has launched a $5 million grant program.