It added that while some investors view Bitcoin as “digital gold,” it believes “there is a demand for utilizing Bitcoin for purposes beyond that.”Source: StarknetPreviously, StarkWare CEO Eli Ben Sasson, the company behind the STARK proof that contributes to the development of Starknet, said OP_CAT, a Satoshi-era opcode for unlocking programmability on Bitcoin that was disabled over security concerns, would allow Starknet to settle on the Bitcoin blockchain. If successful, Starknet said the move would allow developers to build applications on the Bitcoin network through smart contracts and enable applications such as staking, borrowing, lending, leveraged trading, and yield farming.
The Starknet Foundation said in its March 11 Bitcoin roadmap that it’s aiming for Starknet to become Bitcoin’s execution layer, scaling it from 13 transactions per second to thousands, reducing blocks and gas fees, and creating a better user experience.“Most Bitcoin today sits static in wallets and exchanges, constrained by the limitations of the network’s original design: a lack of scalability and an inability to natively support applications beyond simple buying, selling, and transferring,” the foundation said.
Related: Unknown attacker causes headaches during Pectra upgrade on Sepolia“In today’s environment, there is a temptation for wallet teams to say, ‘yeah, let’s just focus on making it easier for people to use Bitcoin as a store of value,’” Liao said.“But the long-term future of Bitcoin also includes utility, and that’s why layer 2 solutions must reach the public via the wallets they actually use,” he added.
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Author / Journalist: Cointelegraph by Stephen Katte
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