Starkware Announces $1m Research Fund for OP_CAT Development

IconCryptoNewsTerminal Staff19 Jul, 2024

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Starkware Announces $1m Research Fund for OP_CAT Development

StarkWare, the team behind StarkNet (STRK), has launched a $1 million research fund to support the development of OP_CAT, a code that brings smart contract functionality to Bitcoin. The fund is open to researchers and developers who are working on OP_CAT-related projects. Applications will close on January 1, 2025 (local time). OP_CAT is a layer-2 scaling solution for Bitcoin that uses optimistic rollups. This means that transactions are processed off-chain and then submitted to the Bitcoin blockchain for final settlement. OP_CAT is designed to improve the scalability and privacy of Bitcoin transactions. The launch of the StarkWare research fund is a significant step towards the development of OP_CAT. The fund will provide researchers and developers with the resources they need to build and test OP_CAT. This could lead to the development of new and innovative ways to use Bitcoin.

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