Singapore, Asia, July 29, 2024, Chainwire
- Elastos BeL2 Partners with StarkWare to Integrate Starknet ZKP and Cairo Programming Language with BeL2 for Native DeFi Apps
- Starknet integration enables BeL2 to deliver clever contracts and decentralized applications without moving Bitcoin assets off the mainnet
- Starknet Grant Validates BeL2’s Innovation Power and Leadership in the Native Bitcoin Ecosystem
Elastos BeL2 (Bitcoin Elastos Layer2) has been awarded a $25,000 grant from Starknet, a technology leader in Zero Knowledge Proofs (ZKP). This significant endorsement highlights Elastos BeL2’s infrastructure and its key role in the development of Native Bitcoin DeFi, particularly Native Bitcoin Lending. By integrating Starknet’s ZKP and the Cairo programming language, Elastos’ BeL2 will enhance its ability to deliver clever contracts and decentralized applications (dapps) without moving Bitcoin (BTC) assets off the mainnet. This strategic partnership with Starknet demonstrates the growing acceptance and maturity of BeL2’s infrastructure, reinforcing Elastos’ commitment to market leadership in the emerging Bitcoin DeFi market.
Starknet, developed by StarkWare, is known for its advances in ZKP technology, which enhances the privacy and security of blockchain transactions. ZKP allows one party to prove to another that a statement is true, without revealing any information beyond the validity of the statement itself. This technology is fundamental to scaling blockchain networks, which will enhance BeL2’s ability to integrate complicated clever contracts while maintaining the integrity and security of Bitcoin.
“We are thrilled to receive the Starknet grant and announce our partnership to build deeper integration with ZKP technology and the Cairo programming language,” said Sasha Mitchell, Head of Bitcoin Layer 2, Elastos. “This is an important milestone for BeL2 and a true validation of the maturity and capabilities of our core technology. This support will allow us to further develop our Native Bitcoin Lending innovation as we look to capitalize on the growing acceptance of Bitcoin as a viable alternative financial system.”
Closer integration with Cairo will enable BeL2 to leverage this powerful programming language to enhance Bitcoin’s capabilities and deliver secure, productive, and scalable decentralized finance (DeFi) applications. In particular, the relationship with Cairo reinforces BeL2’s leading technical innovations, which include:
- ZKP provides secure and private transaction verification
- Decentralized arbitrage using secured nodes to oversee and enforce fairness in Native Bitcoin DeFi
- BTC Oracle (NYSE:) facilitates cross-chain interactions where information is exchanged rather than assets, while Bitcoin remains the core infrastructure
BeL2’s vision goes beyond technical innovation to pioneer a fresh financial system. The goal is to build a Bretton Woods system based on Bitcoin, solving global debt crises, and strengthening Bitcoin’s role as a global challenging currency. This fresh system will be anchored in Bitcoin’s integrity and security, providing a stable foundation for decentralized financial applications.
As integration with Starknet and the Cairo programming language continues to expand, BeL2 will continue to deliver further advancements in clever contract capabilities, decentralized arbitration, and pioneering financial products. At Token 2049, BeL2 will showcase further innovations in its core technologies, particularly in arbitrators, underlining Elastos’ vision to deliver a more equitable, decentralized financial system anchored in Bitcoin.
About Elastos
Elastos is a public blockchain project that integrates blockchain technology with a set of redesigned platform components to create a contemporary internet infrastructure that provides intrinsic privacy and ownership protection for digital assets. The mission is to build accessible, open services for the world so that developers can build an internet where individuals own and control their data.
The Elastos AstuteWeb platform enables organizations to customize the way the internet works to better control their data.
https://www.linkedin.com/company/elastosinfo/
contactPR LeaderRoger DarashahElastosroger.darashah@elastoselavation.org
