As a researcher with a background in blockchain technology and a particular interest in scalability solutions, I find StarkWare’s recent announcement both intriguing and reassuring. The clarification that Starknet will not be forked or result in the creation of a new token exclusively for Bitcoin is a relief, as it ensures the focus remains on enhancing Ethereum’s scalability through validity rollups and ZK Proofs.
StarkWare, the company responsible for Starknet, has revealed that its intentions to scale its technology for Bitcoin won’t lead to a fork of Starknet or the emergence of a fresh token.
As a researcher focusing on blockchain technology, I can confirm that StarkWare’s main commitment is still centered around enhancing Ethereum‘s scalability through validity rollups and zero-knowledge proofs (ZKPs). Lately, they have expanded their horizons to explore potential solutions for Bitcoin’s scalability challenges as well.
Plans For The Bitcoin Network
StarkWare, the company behind Ethereum’s scaling solution Starknet via ZK rollups, is known for this innovation. However, StarkWare’s founding team, led by Eli Ben-Sasson, have long harbored aspirations to apply STARK proofs for Bitcoin scaling as well. Ben-Sasson expressed his desire to link Starknet with Bitcoin in the past.
“I was red-pilled at the Bitcoin conference in 2013.”
As a researcher examining the ongoing debate surrounding StarkWare’s potential forking of Starknet, I’ve come across Starknet’s recent clarification on X. This statement underscores their dedication to streamlining Ethereum scaling in 2024 without creating a separate layer or token specifically for Bitcoin. Instead, they plan to act as an execution layer, enhancing the scalability of both Bitcoin and Ethereum concurrently.
“Starting from its launch, Starknet has been dedicated to expanding Ethereum’s capabilities through the implementation of Validity Rollups, with a significant emphasis on advancing Zero-Knowledge (ZK) technology. Our ultimate goal is to optimally enhance Ethereum’s scalability.”
It further added,
Since the inception of Starknet, our aim has been to create STARK proofs with the objective of improving the scalability and integrity of blockchains that we hold in high regard. Contrary to speculation, StarkWare does not intend to fork Starknet to introduce a new layer on Bitcoin or generate an exclusive token for the Bitcoin community. Instead, Starknet aspires to function as an execution layer that enhances the capabilities of both Bitcoin and Ethereum concurrently. The security, administration, and ecosystem of Starknet will all be influenced by the STRK token.
The Complications Of Upgrading Bitcoin
As a crypto investor, I’ve come to realize that the intricacies of upgrading Bitcoin set it apart from other cryptocurrencies. Unlike many other chains, Bitcoin doesn’t follow a straightforward upgrade process or protocol. Instead, advancements typically emerge once consensus has been reached among researchers, developers, project maintainers, full node operators, and miners.
As a crypto investor, I’ve come across StarkWare’s recent announcement that they will be investing $1 million to promote the use of CAT publicly. CAT is an opcode that was initially proposed by Satoshi Nakamoto in Bitcoin’s codebase, but was later removed without explanation. Some experts, including Udi Wertheimer, have speculated that Nakamoto may not have fully grasped the potential implications of CAT at the time and deactivated it due to a lack of usage. However, with StarkWare’s investment and the growing interest in the crypto community, we might see a resurgence of interest in this once overlooked opcode.
StarkWare’s endorsement of CAT gives Wertheimer reason to believe that the upgrade may become active as early as this year.
It’s my belief that the shift in perception within this community regarding the legitimacy of a certain concept has had a significant impact. Key players such as StarkWare, Bitcoin miners, core developers, and supporters of the Lightning Network share this desire. Consequently, I am quite confident that this development will come to fruition.
StarkWare’s strategy to implement Zero- Knowledge (ZK) scaling on Bitcoin is a component of a broader approach aimed at tackling the scalability challenges that afflict blockchain networks.
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2024-06-12 00:04