Singapore, Asia, July 29, 2024, Chainwire

• Elastos BeL2 companions with StarkWare to combine Starknet ZKP and the Cairo programming language into BeL2 for native DeFi apps.
• The Starknet integration will allow BeL2 to energy good contracts and dapps with out transferring Bitcoin belongings off the mainnet.
• StarkNet Grant Demonstrates the Power of BeL2’s Innovation and Management within the Native Bitcoin Ecosystem

Elastos BeL2 (Bitcoin Elastos Layer2) has secured a $25,000 grant from Starknet, a expertise chief in zero-knowledge proofs (ZKPs). This important backing highlights the Elastos BeL2 infrastructure and its crucial position within the development of native Bitcoin DeFi, particularly native Bitcoin lending. By integrating Starknet ZKPs and the Cairo programming language, Elastos' BeL2 will improve its potential to energy good contracts and decentralized apps (dapps) with out transferring Bitcoin (BTC) belongings off the primary community. This strategic partnership with Starknet alerts the rising adoption and maturity of the BeL2 infrastructure and reinforces Elastos' dedication to market management within the evolving Bitcoin DeFi market.

Starknet, developed by StarkWare, is understood for its developments in ZKP expertise, which reinforces the privateness and safety of blockchain transactions. ZKP permits one celebration to show to a different {that a} assertion is true with out revealing any data past the validity of the assertion itself. This expertise is important for scaling blockchain networks and enhances BeL2's potential to combine complicated good contracts whereas sustaining the integrity and safety of Bitcoin.

“We're excited to obtain this StarkNet grant and announce our collaboration to construct a tighter integration of their ZKP expertise with the Cairo programming language,” mentioned Sasha Mitchell, head of Bitcoin Layer 2 at Elastos. “This marks a serious milestone for BeL2 and a real validation of the maturity and capabilities of our core expertise. With this backing, we hope to have the ability to additional construct out our innovation in native bitcoin lending, serving to to additional assist the acceptance of Bitcoin as a viable various monetary system.”

Deeper integration with Cairo will allow BeL2 to reinforce Bitcoin's capabilities utilizing this highly effective programming language to ship safe, environment friendly and scalable decentralized finance (DeFi) functions. Particularly, our relationship with Cairo will improve BeL2's main technological improvements, together with:

• ZKPs guarantee safe and personal transaction verification
• Decentralized Arbitration Utilizing Bonded Nodes to Monitor and Implement Equity in Native Bitcoin DeFi
• BTC Oracle (NYSE:) facilitates cross-chain interactions the place data, quite than belongings, is exchanged, whereas Bitcoin stays on the primary infrastructure.

BeL2's imaginative and prescient goes past technological innovation to pioneering a brand new monetary system. The purpose is to create a Bretton Woods system backed by Bitcoin, addressing the worldwide debt disaster and strengthening Bitcoin's position as a worldwide arduous foreign money. This new system will probably be underpinned by the integrity and safety of Bitcoin, offering a steady basis for decentralized finance functions.

As integration with Starknet and the Cairo programming language expands, BeL2 will allow additional developments in good contract capabilities, decentralized arbitration, and revolutionary monetary merchandise. At Token 2049, BeL2 will showcase additional improvements in its core expertise across the arbiter, highlighting Elastos' imaginative and prescient to allow a fairer, decentralized monetary system constructed on Bitcoin.

About Elastos

Elastos is a public blockchain undertaking that brings collectively blockchain expertise and a collection of reimagined platform parts to create a contemporary web infrastructure that inherently protects privateness and possession of digital belongings. Its mission is to construct globally accessible open supply providers and allow builders to construct an web the place people personal and management their knowledge.

The Elastos SmartWeb platform permits organizations to realign the best way the web works and acquire higher management over their knowledge.

https://elastos.data

https://www.linkedin.com/firm/elastosinfo/

contactPR ChiefRoger DarashaErastus[email protected]

This text was first printed on Chainwire