Singapore, Asia, July twenty ninth, 2024, Chainwire

• Elastos BeL2 will accomplice with StarkWare to combine Starknet ZKPs and Cairo programming language with BeL2 for Native Bitcoin DeFi apps
• Starknet integration allows BeL2 to ship good contracts and dapps with out transferring Bitcoin property off the mainnet 
• Starknet Grant validates power of BeL2 innovation and management within the Native Bitcoin ecosystem 

Elastos BeL2 (Bitcoin Elastos Layer2) has secured a $25,000 grant from Starknet, a know-how chief in zero-knowledge proofs (ZKP). This important endorsement highlights the Elastos BeL2 infrastructure and its crucial function in advancing Native Bitcoin DeFi, notably native Bitcoin lending. By integrating Starknet ZKPs and the Cairo programming language, Elastos’ BeL2 will improve its potential to ship good contracts and decentralized apps (dapps) with out transferring Bitcoin (BTC) property off the primary community. This strategic partnership with Starknet demonstrates the rising acceptance and maturity of the BeL2 infrastructure, reinforcing Elastos’ dedication to market management within the evolving Bitcoin DeFi market. 

Starknet, developed by StarkWare, is famend for its advances in ZKP know-how, which improve the privateness and safety of blockchain transactions. ZKPs permit one get together to show to a different {that a} assertion is true with out revealing any info past the validity of the assertion itself. This know-how is prime to scaling blockchain networks, which can improve BeL2’s potential to combine complicated good contracts whereas sustaining Bitcoin’s integrity and safety. 

“We are delighted to receive this Starknet grant and announce our partnership to build tighter integrations with its ZKP technology and the Cairo programming language,” mentioned Sasha Mitchell, Head of Bitcoin Layer 2, Elastos. “This is a major milestone for BeL2 and a real endorsement of the maturity and capabilities of our core technology. This support will allow us to further build out our Native Bitcoin lending innovation, as we look to leverage the growing acceptance of Bitcoin as a viable alternative financial system.” 

Nearer integration with Cairo will allow BeL2 to make use of this highly effective programming language to boost Bitcoin’s capabilities and ship safe, environment friendly, and scalable decentralized finance (DeFi) purposes. Particularly, the connection with Cairo strengthens BeL2’s main technical improvements, which embrace:

• ZKPs to make sure safe and personal transaction verification
• Decentralized arbitration utilizing collateralized nodes to oversee and implement equity in Native Bitcoin DeFi
• BTC Oracle facilitating cross-chain interactions the place info, not property, are exchanged whereas Bitcoin stays on the primary infrastructure

BeL2’s imaginative and prescient extends past technical innovation to pioneering a brand new monetary system. The purpose is to construct a Bitcoin-backed Bretton Woods system, addressing international debt crises and enhancing Bitcoin’s function as a world arduous forex. This new system will likely be anchored by the integrity and safety of Bitcoin, offering a steady basis for decentralized monetary purposes.

As the combination with Starknet and the Cairo programming language expands, BeL2 will ship additional developments in good contract capabilities, decentralized arbitration, and progressive monetary merchandise. At Token 2049, BeL2 will display additional improvements in its core applied sciences, notably round arbiters, which can underline the Elastos imaginative and prescient to ship a extra equitable, decentralized monetary system anchored by Bitcoin.

About Elastos

Elastos is a public blockchain undertaking that integrates blockchain know-how with a set of reimagined platform parts to supply a contemporary Web infrastructure that gives intrinsic safety for privateness and digital asset possession. The mission is to construct accessible, open-source providers for the world, so builders can construct an web the place people personal and management their knowledge.

The Elastos SmartWeb platform allows organizations to recalibrate how the Web works for them to raised management their very own knowledge.

https://elastos.data

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Contact

PR Lead
Roger Darashah
Elastos
[email protected]