Ethereum

Bitcoin

DeFi

Enhance

Million

<div class="intro-text">
 StarkWare, an Israeli company known for its Ethereum layer-2 solutions StarkNet and StarkEx, has <a href="https://starkware.co/scaling-bitcoin-for-mass-use/" rel="noopener noreferrer nofollow">announced</a> a major initiative to enhance Bitcoin’s capabilities using zero-knowledge rollups. 
</div>
The company has committed $1 million to research and development for this effort, highlighting its dedication to improving Bitcoin scalability.
StarkWare’s solution centres around StarkNet, a decentralised and permissionless rollup system for Ethereum. Rollups aggregate numerous transactions off-chain and verify them on-chain at a fraction of the typical cost, a method that has proven effective on Ethereum and is now being adapted for Bitcoin.
<blockquote>
 “Bitcoin today is powerful, but it has the potential to be so much more,”
</blockquote>
said Eli Ben-Sasson, CEO and co-founder of StarkWare, in a statement. 
<blockquote>
 “By scaling Bitcoin, we can unlock blockchain’s full potential to transform the world.”
</blockquote>
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A key part of StarkWare’s plan is a proposal to reinstate a Bitcoin command known as OP_CAT. This command allows developers to set conditions for future Bitcoin transactions, enabling features like automated payments and reversible transactions, similar to smart contracts on other blockchains.&nbsp;
StarkWare has already started testing zero-knowledge proofs on Bitcoin through the ZeroSync Association in Switzerland. This technology allows users to validate the Bitcoin network without downloading its entire history, ensuring a more efficient and scalable system.
The company noted that it has <a style="color: #0000ff;" href="https://starkware.co/scaling-bitcoin-for-mass-use/" rel="noopener noreferrer nofollow">partnered</a> with Weikeng Chen of L2 Iterative Ventures (L2IV) through the ZeroSync Foundation to develop the Bitcoin Wildlife Sanctuary. The project leverages both teams’ engineering and research expertise to advance open-source work on OP_CAT-based covenants and STARK verifiers implemented in Bitcoin scripts.&nbsp;
Advocates of the OP_CAT proposal have <a style="color: #0000ff;" href="https://github.com/bip420/bip420" rel="noopener noreferrer nofollow">introduced </a>new code, showing how this command could enhance Bitcoin’s functionality. The proposal has gained attention from the community, and it has been <a style="color: #0000ff;" href="https://x.com/udiWertheimer/status/1782503906142019874" rel="noopener noreferrer nofollow">christened with the meme number “420”</a> as its proposed Bitcoin Improvement Proposal (BIP) number.
READ MORE: <a style="color: #0000ff;" href="https://defi-planet.com/2023/10/what-is-a-bitcoin-improvement-proposal-bip-and-how-does-it-work/" rel="noopener noreferrer nofollow">What is a Bitcoin Improvement Proposal (BIP)? And How Does It Work?</a>
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The post <a href="https://defi-planet.com/2024/06/starkware-commits-1-million-to-enhance-bitcoin-scalability-with-zero-knowledge-rollups/" rel="noopener noreferrer nofollow">StarkWare Commits $1 Million to Enhance Bitcoin Scalability with Zero-Knowledge Rollups</a> appeared first on <a href="https://defi-planet.com" rel="noopener noreferrer nofollow">DeFi Planet</a>.

StarkWare Commits $1 Million to Enhance Bitcoin Scalability with Zero-Knowledge Rollups

DeFi Planet

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