This innovation is aimed at increasing the throughput of the blockchain, reducing the size of blocks and fees, and improving the usability of the first cryptocurrency.
The article notes that a significant portion of bitcoins remains in wallets and on exchanges, and their movement is limited by the low scalability of the network and the lack of support for decentralized applications. The developers believe that, despite the widespread idea of BTC as “digital gold”, many users are interested in its practical application.
If the initiative is successful, Starknet will be able to provide developers with a platform for launching decentralized applications based on Bitcoin. This can significantly expand the functionality of the network while maintaining a high level of security.
Vitalik Buterin, one of the founders of Ethereum, expressed the opinion that a reliable second-layer solution for Bitcoin could make cryptocurrency payments more efficient and increase the popularity of digital assets in various fields.