Singapore, Asia, 29 July 2024, Chainwire
- Elastos BeL2 will work with StarkWare to combine Starknet ZKP and Cairo programming language with BeL2 for Native DeFi functions
- Starknet integration permits BeL2 to ship good contracts and dapps with out shifting bitcoin property off the mainnet
- The Starknet Grant confirms the ability of BeL2's innovation and management within the native Bitcoin ecosystem
Elastos BeL2 (Bitcoin Elastos Layer2) has obtained a $25,000 grant from Starknet, a know-how chief in zero-knowledge proof (ZKP). This vital affirmation highlights the Elastos BeL2 infrastructure and its key position in advancing native Bitcoin DeFi, particularly native Bitcoin lending. By integrating Starknet ZKP and the Cairo programming language, Elastos' BeL2 will strengthen its potential to ship good contracts and decentralized functions (dapps) with out the necessity to transfer Bitcoin (BTC) property off the mainnet. This strategic partnership with Starknet demonstrates the rising acceptance and maturity of the BeL2 infrastructure and reinforces Elastos' dedication to main the Bitcoin DeFi market.
Developed by StarkWare, Starknet is thought for its developments in ZKP know-how that enhances the privateness and safety of blockchain transactions. PPCs enable one celebration to show to a different {that a} assertion is true with out disclosing any info past the validity of the assertion itself. This know-how is important to the scaling of blockchain networks, which is able to improve BeL2's potential to combine complicated good contracts whereas sustaining the integrity and safety of Bitcoin.
“We’re delighted to obtain this Starknet grant and announce our partnership to construct a tighter integration with its ZKP know-how and Cairo programming language,” mentioned Sasha Mitchell, Head of Bitcoin Layer 2, Elastos. “This can be a main milestone for BeL2 and an actual validation of the maturity and capabilities of our core know-how. This help will enable us to additional construct our native bitcoin lending innovation as we glance to capitalize on the rising acceptance of bitcoin as viable.” different monetary system.”
Nearer integration with Cairo will enable 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) functions. Particularly, the connection with Cairo is strengthened by BeL2's main technical improvements, which embody:
- ZKP to make sure safe and personal verification of transactions
- Decentralized Arbitrage Utilizing Collateralized Nodes to Oversee and Implement Justice in Native Bitcoin DeFi
- BTC Oracle (NYSE: ) Facilitates Cross-Chain Interactions The place Data, Not Belongings, Are Exchanged Whereas Bitcoin Stays On Major Infrastructure
BeL2's imaginative and prescient ranges from technical innovation to pioneering a brand new monetary system. The objective is to construct a Bitcoin-backed Bretton Woods system to handle world debt crises and strengthen Bitcoin's position as a world onerous foreign money. This new system shall be anchored by the integrity and safety of Bitcoin and supply a secure basis for decentralized monetary functions.
With increasing integration with Starknet and the Cairo programming language, BeL2 will present additional developments in good contract capabilities, decentralized arbitrage, and modern monetary merchandise. At Token 2049, BeL2 will show additional improvements in its core applied sciences, notably round arbitrators, which is able to underline Elastos' imaginative and prescient to supply a fairer, decentralized monetary system anchored in Bitcoin.
About Elastos
Elastos is a public blockchain challenge that integrates blockchain know-how with a set of redesigned platform parts to create a contemporary web infrastructure that gives intrinsic privateness safety and possession of digital property. The mission is to create accessible open supply 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 their Web works and higher management their very own knowledge.
https://elastos.data
https://www.linkedin.com/firm/elastosinfo/
ContactPR supervisorRoger DarashElastosroger.darashah@elastoselavation.org
This text was initially revealed on Chainwire
