Starknet, Layer 2 Answer of Ethereum, is now taking important steps towards connecting Bitcoin and Etreum together. On March 11, Starknet Base announced its Bitcoin Roadmap, stating that Starknet would be made Bitcoin’s Execution Layer.
Its purpose is to increase the current from the current 13 transactions in line with 2D (TPS) to thousands of transactions in line with 2D (TPS), reduce gas fees and block size and improve user experience. If this plan is successful, it can create a strong and growing ecosystem between both bitcoin and ethereum. If you want to know that What is bitcoinThen click on the given link.
Enable Bitcoin for smart contracts
Bitcoin, originally designed as a peer-to-peer digital cash system, is facing some major limits due to its early design. Currently, Bitcoin is mainly used as a store of value, but its network lacks scalability and natural support for smart contracts. Starknet Base believes that the use of Bitcoin should not remain limited only to transfer or purchase-sale. Instead, Bitcoin should create an enabled platform for developers through smart contracts.
Starkware’s Ceo Eli Ben Sasson said that OP_CAT, which is a satoshi-occasion opcode, can open the posibilities of smart contracts in Bitcoin Community. If it is successful, developers will be able to make stacking, loan, trading, yield farming and other Defi applications on Bitcoin.
This will not only develop bitcoin as a currency, but as a powerful Defi platform. The increase of this type of solutions by Starknet will increase the utility of Bitcoin, which can make it a Capable Smart Contract Platform like Etreum. Click on the link given to read in detail about what Ethereum is.
Xverse and Starknet Partnership: Bitcoin’s defi future
Starknet has announced a partnership with Bitcoin Web3 Pockets Xverse. Xverse’s CEO, Ken Liao believes that “take-off moment” of Defi is coming for Bitcoin. From this partnership, Bitcoin Customers will get direct access to smart contracts and Defi service. Liao says that wallets should support the growing utility of Bitcoin instead of storing.
This step of Xverse and Starknet will expand the Defi service for Bitcoin, which will give users the benefit of lending, stating and other services. The main objective of this collaboration is to create a convenient and reliable Defi platform for Bitcoin Customers.
Conclusion
Starknet’s attempt to act as Layer 2 answer on Bitcoin can be the beginning of an unuses, where Bitcoin and Ethereum will connect more firmly with each other. This initiative will improve the scalability and utility of Bitcoin and it can not only emerge as a digital asset, but as a capeble Defi platform. The partnership of Starknet with Xverse will further fastening this process, so that Bitcoin Customers will be able to enter Defi International. Finally, this step will promote the engagement between the two Bitcoin and Ethereum, which will give rise to new posibilities in the Crypto World.
