Elastos’ BeL2 Secures Starknet Grant to Advance Native Bitcoin Lending and DeFi Options

Singapore, Asia, July twenty ninth, 2024, Chainwire

• Elastos BeL2 will associate with StarkWare to combine Starknet ZKPs and Cairo programming language with BeL2 for Native DeFi apps
• Starknet integration allows BeL2 to ship sensible contracts and dapps with out shifting 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 expertise chief in zero-knowledge proofs (ZKP). This important endorsement highlights the Elastos BeL2 infrastructure and its vital function in advancing Native Bitcoin DeFi, notably native Bitcoin lending. By integrating Starknet ZKPs and the Cairo programming language, Elastos’ BeL2 will improve its skill to ship sensible contracts and decentralized apps (dapps) with out shifting 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 expertise, which improve the privateness and safety of blockchain transactions. ZKPs enable one occasion to show to a different {that a} assertion is true with out revealing any info past the validity of the assertion itself. This expertise is prime to scaling blockchain networks, which is able to improve BeL2’s skill to combine complicated sensible contracts whereas sustaining Bitcoin’s integrity and safety.

“We’re delighted to obtain this Starknet grant and announce our partnership to construct tighter integrations with its ZKP expertise and the Cairo programming language,” mentioned Sasha Mitchell, Head of Bitcoin Layer 2, Elastos. “This can be a main milestone for BeL2 and an actual endorsement of the maturity and capabilities of our core expertise. This help will enable us to additional construct out our Native Bitcoin lending innovation, as we glance to leverage the rising acceptance of Bitcoin as a viable various monetary system.”

Nearer integration with Cairo will allow BeL2 to make use of this highly effective programming language to reinforce Bitcoin’s capabilities and ship safe, environment friendly, and scalable decentralized finance (DeFi) purposes. Particularly, the connection with Cairo strengthens BeL2’s main technical improvements, which embrace:

• 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 aim is to construct a Bitcoin-backed Bretton Woods system, addressing world debt crises and enhancing Bitcoin’s function as a worldwide arduous foreign money. This new system might be anchored by the integrity and safety of Bitcoin, offering a secure basis for decentralized monetary purposes.

As the combination with Starknet and the Cairo programming language expands, BeL2 will ship additional developments in sensible contract capabilities, decentralized arbitration, and revolutionary monetary merchandise. At Token 2049, BeL2 will display additional improvements in its core applied sciences, notably round arbiters, which is able to underline the Elastos imaginative and prescient to ship a extra equitable, decentralized monetary system anchored by Bitcoin.

About Elastos

Elastos is a public blockchain challenge that integrates blockchain expertise with a set 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 knowledge.

The Elastos SmartWeb platform allows organizations to recalibrate how the Web works for them to higher management their very own knowledge.

https://elastos.data

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

ContactPR LeadRoger DarashahElastosroger.darashah@elastoselavation.org

This text was initially printed on Chainwire