Starknet aims to be the first Layer 2 network to settle transactions on both Bitcoin and Ethereum, creating new DeFi opportunities and unifying the largest blockchain ecosystems.
Bridging Bitcoin and Ethereum: A Bold Vision
Bitcoin is often seen as digital gold but is primarily used for storing value, not interacting with DeFi. Starknet intends to change this by introducing scalability, smart contracts, and lower fees to the Bitcoin network.
The Challenges Bitcoin Faces Today
Despite its dominance, Bitcoin has several limitations hindering its broader adoption in DeFi: - Limited Functionality. - Security Risks. - High Fees & Slow Transactions.
How Starknet Plans to Solve These Issues
Starknet will act as Bitcoin's execution layer, enabling faster and cheaper transactions while unlocking new DeFi use cases: - Layer 2 Scaling. - STARK Proofs. - Instant & Low-Cost Transactions. - Smart Contracts on Bitcoin.
Starknet aims to unify Bitcoin and Ethereum, offering new DeFi opportunities, supporting smart contracts, and enhancing liquidity. These efforts highlight the importance of integration and scaling for the future of cryptocurrency.
