Elastos BeL2 Partners with StarkWare to Advance Bitcoin DeFi
Elastos BeL2 and StarkWare Partnership
Elastos BeL2 has forged a strategic partnership with StarkWare, focusing on integrating Starknet's zero-knowledge proofs (ZKPs) and the Cairo programming language. This collaboration aims to bolster Native Bitcoin DeFi applications by enabling the delivery of smart contracts and decentralized apps (dapps) without transferring Bitcoin assets from the mainnet. The partnership marks a significant endorsement of BeL2's infrastructure in the Bitcoin ecosystem, particularly in native Bitcoin lending.
Significance of Starknet Integration
Starknet, a leader in ZKP technology, enhances blockchain transaction privacy and security. ZKPs allow secure and private transaction verification, crucial for scaling blockchain networks. This integration empowers BeL2 to manage complex smart contracts while maintaining Bitcoin's integrity. The Starknet grant of $25,000 underscores BeL2's innovation and leadership in the Bitcoin DeFi landscape.
Enhancing Bitcoin's Capabilities with Cairo
The partnership includes closer integration with the Cairo programming language, which strengthens BeL2's technical capabilities. This allows for the development of secure, scalable decentralized finance applications. Key innovations include decentralized arbitration using collateralized nodes and BTC Oracle for cross-chain interactions, ensuring Bitcoin remains on its main infrastructure.
Vision for a New Financial System
BeL2 envisions pioneering a Bitcoin-backed Bretton Woods system to address global debt crises and enhance Bitcoin's role as a global hard currency. This system aims to provide a stable foundation for decentralized financial applications, driven by Bitcoin's integrity and security.
Future Developments and Innovations
As integration with Starknet and Cairo progresses, BeL2 plans further advancements in smart contracts, decentralized arbitration, and financial products. Upcoming demonstrations at Token 2049 will showcase these innovations, highlighting BeL2's commitment to an equitable, decentralized financial system anchored by Bitcoin.
About Elastos
Elastos is committed to integrating blockchain technology with modern Internet infrastructure, prioritizing privacy and digital asset ownership. Through its SmartWeb platform, Elastos aims to empower organizations to control their data, fostering an open-source, accessible internet for all.
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