StarkNet: No Plans to Create Bitcoin Ecosystem Token
CryptoNewsTerminal Staff07 Jun, 2024
StarkNet: No Plans to Create Bitcoin Ecosystem Token
StarkWare, the development team behind StarkNet (STRK), has announced that while they have launched a $10 million R&D initiative to enhance Bitcoin's functionality leveraging zero-knowledge (zk) proofs, StarkNet remains focused on scaling Ethereum through StarkNet, without creating a new layer for Bitcoin or issuing a Bitcoin ecosystem token. StarkNet instead will serve as an execution layer that scales both Bitcoin and Ethereum simultaneously, leveraging the STRK token for security, governance, and ecosystem alignment.
