Singapore, Asia, July twenty ninth, 2024, Chainwire

• Elastos BeL2 will companion with StarkWare to combine Starknet ZKPs and Cairo programming language with BeL2 for Native DeFi apps
• Starknet integration permits BeL2 to ship good contracts and dapps with out transferring Bitcoin property off the mainnet
• Starknet Grant validates energy of BeL2 innovation and management within the Native Bitcoin ecosystem

Elastos BeL2 (Bitcoin Elastos Layer2) has secured a $25,000 grant from Starknet, a know-how chief in zero-knowledge proofs (ZKP). This vital endorsement highlights the Elastos BeL2 infrastructure and its important position in advancing Native Bitcoin DeFi, significantly native Bitcoin lending. By integrating Starknet ZKPs and the Cairo programming language, Elastos’ BeL2 will improve its means to ship good contracts and decentralized apps (dapps) with out transferring Bitcoin (BTC) property off the principle community. This strategic partnership with Starknet demonstrates the rising acceptance and maturity of the BeL2 infrastructure, reinforcing Elastos’ dedication to market management within the evolving Bitcoin DeFi market.

Starknet, developed by StarkWare, is famend for its advances in ZKP know-how, which improve the privateness and safety of blockchain transactions. ZKPs enable one celebration to show to a different {that a} assertion is true with out revealing any info past the validity of the assertion itself. This know-how is prime to scaling blockchain networks, which can improve BeL2’s means to combine advanced good contracts whereas sustaining Bitcoin’s integrity and safety.

“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,” mentioned 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.”

Nearer integration with Cairo will allow 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 strengthens BeL2’s main technical improvements, which embody:

• ZKPs to make sure safe and personal transaction verification
• Decentralized arbitration utilizing collateralized nodes to oversee and implement equity in Native Bitcoin DeFi
• BTC Oracle (NYSE:) facilitating cross-chain interactions the place info, not property, are exchanged whereas Bitcoin stays on the principle infrastructure

BeL2’s imaginative and prescient extends past technical innovation to pioneering a brand new monetary system. The objective is to construct a Bitcoin-backed Bretton Woods system, addressing world debt crises and enhancing Bitcoin’s position as a worldwide onerous foreign money. This new system shall be anchored by the integrity and safety of Bitcoin, offering a secure basis for decentralized monetary functions.

As the mixing with Starknet and the Cairo programming language expands, BeL2 will ship additional developments in good contract capabilities, decentralized arbitration, and modern monetary merchandise. At Token 2049, BeL2 will show additional improvements in its core applied sciences, significantly round arbiters, which can underline the Elastos imaginative and prescient to ship a extra equitable, decentralized monetary system anchored by Bitcoin.

About Elastos

Elastos is a public blockchain venture that integrates blockchain know-how with a collection of reimagined platform elements to provide a contemporary Web infrastructure that gives intrinsic safety for privateness and digital asset possession. The mission is to construct accessible, open-source providers for the world, so builders can construct an web the place people personal and management their information.

The Elastos SmartWeb platform permits organizations to recalibrate how the Web works for them to raised management their very own information.

https://elastos.data

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

ContactPR LeadRoger DarashahElastosroger.darashah@elastoselavation.org

This text was initially printed on Chainwire