Singapore, Asia, July 29th, 2024,
Chainwire
- Elastos BeL2 will partner with StarkWare to integrate Starknet
ZKPs and Cairo programming language with BeL2 for Native Bitcoin
DeFi apps
- Starknet integration enables BeL2 to deliver smart contracts
and dapps without moving Bitcoin assets off the mainnet
- Starknet Grant validates strength of BeL2 innovation and
leadership in the Native Bitcoin ecosystem
Elastos BeL2 (Bitcoin Elastos Layer2) has secured a
$25,000 grant from Starknet, a technology leader in zero-knowledge
proofs (ZKP). This significant endorsement highlights the Elastos
BeL2 infrastructure and its critical role in advancing Native
Bitcoin DeFi, particularly native Bitcoin lending. By integrating
Starknet ZKPs and the Cairo programming language, Elastos’ BeL2
will enhance its ability to deliver smart contracts and
decentralized apps (dapps) without moving Bitcoin (BTC) assets off
the main network. This strategic partnership with Starknet
demonstrates the growing acceptance and maturity of the BeL2
infrastructure, reinforcing Elastos' commitment to market
leadership in the evolving Bitcoin DeFi market.
Starknet, developed by StarkWare, is renowned for its advances
in ZKP technology, which enhance the privacy and security of
blockchain transactions. ZKPs allow 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 complex smart contracts while
maintaining Bitcoin’s integrity and security.
"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," said 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."
Closer integration with Cairo will enable BeL2 to use this
powerful programming language to enhance Bitcoin’s capabilities and
deliver secure, efficient, and scalable decentralized finance
(DeFi) applications. Specifically, the relationship with Cairo
strengthens BeL2’s leading technical innovations, which
include:
- ZKPs to ensure secure and private transaction verification
- Decentralized arbitration using collateralized nodes to
supervise and enforce fairness in Native Bitcoin DeFi
- BTC Oracle facilitating cross-chain interactions where
information, not assets, are exchanged while Bitcoin remains on the
main infrastructure
BeL2's vision extends beyond technical innovation to pioneering
a new financial system. The goal is to build a Bitcoin-backed
Bretton Woods system, addressing global debt crises and enhancing
Bitcoin's role as a global hard currency. This new system will be
anchored by the integrity and security of Bitcoin, providing a
stable foundation for decentralized financial applications.
As the integration with Starknet and the Cairo programming
language expands, BeL2 will deliver further advancements in smart
contract capabilities, decentralized arbitration, and innovative
financial products. At Token 2049, BeL2 will demonstrate further
innovations in its core technologies, particularly around arbiters,
which will underline the Elastos vision to deliver a more
equitable, decentralized financial system anchored by Bitcoin.
About Elastos
Elastos is a public blockchain project that integrates
blockchain technology with a suite of reimagined platform
components to produce a modern Internet infrastructure that
provides intrinsic protection for privacy and digital asset
ownership. The mission is to build accessible, open-source services
for the world, so developers can build an internet where
individuals own and control their data.
The Elastos SmartWeb platform enables organizations to
recalibrate how the Internet works for them to better control their
own data.
https://elastos.info
https://www.linkedin.com/company/elastosinfo/
Contact
PR Lead
Roger
Darashah
Elastos
roger.darashah@elastoselavation.org