StarkWare to Scale Bitcoin and Ethereum with $1 Million ZK-STARK Initiative

Jun 4, 2024, 01:36 PM

StarkWare has announced a significant initiative to scale Bitcoin using Zero-Knowledge Proofs (ZK-STARKs). The company plans to raise $1 million to support this effort, which aims to address Bitcoin's scalability challenges. Starknet, a network developed by StarkWare, will be the first to unify both Ethereum and Bitcoin, settling transactions on both blockchains simultaneously. The initiative is rooted in a vision first presented by Eli Ben-Sasson at a Bitcoin conference in 2013. Starknet's integration with Bitcoin will follow the OP_CAT upgrade, and the project includes a $1 million grant fund for OP_CAT research. This move is expected to enhance financial autonomy and provide a scalable solution for both Ethereum and Bitcoin.