- On the Signet test network of Bitcoin, StarkWare, the developer of Starknet, claims to have confirmed the first zero-knowledge proof.
- The company said that the strength of the OP_CAT technical proposal on Bitcoin is demonstrated by its new STARK validator.
Using its newly developed STARK verifier on Bitcoin’s Signet test network, blockchain developer StarkWare claims to have confirmed the first zero-knowledge evidence.
The 32nd number in the Fibonacci squared series was the mathematical issue that needed to be verified as the first proof of concept for the verifier. The firm stated in a statement that the next stage is to extend the design and allow it to do a wider range of general-purpose computations.
Eli Ben-Sasson, CEO of StarkWare, stated, “We said we wanted to scale Bitcoin and unleash the blockchain’s power to transform the world.” That’s what we’re doing here. It’s the first step toward demonstrating the potential of zero-knowledge technology with Bitcoin.
StarkWare is the main contributor to Ethereum Layer 2 Starknet, with a valuation of $8 billion in its most recent financing round. The most recent development comes after StarkWare revealed plans in June to introduce ZK scaling to Bitcoin alongside Ethereum. This was made possible by a technical proposal called OP_CAT, which offered the infrastructure needed to introduce STARK scaling to Bitcoin.
The StarkWare team made it clear at the time that no new chain is being formed; instead, the idea leverages the existing Starknet network with the same governance and tokenomics, enabling Bitcoin growth without necessitating a fork. Ben-Sasson said last month that each dapp might decide where it wishes to dwell, either in one or both locations.
According to the company, StarkWare’s new STARK verifier, developed in collaboration with venture firm L2 Iterative, uses OP_CAT to enable the creation of ZK-based Layer 2s on the Bitcoin network, which are intended to aid in the network’s faster scaling.
Weikeng Chen of L2 Iterative remarked that this required a great deal of work and time. Nothing existed when we first started. Regarding ZK proofs, there is nothing on Bitcoin. Regarding the mathematical processes to be performed, nothing is known. The STARK verifier had to be implemented because we had to create the entire stack.
OP_CAT: What is it?
The OP_CAT technical covenant proposal adds smart contract functionality to the Bitcoin network by utilizing sophisticated scripting tools. Use cases that could be made possible by it include time-locked transfers for situations like inheritance, automatic repeating payments with privacy concerns, secure vaults that provide reversal transactions, and intricate financial instruments like bonds and escrows.
OP_CAT was one of the initial opcodes in the Bitcoin codebase. But in 2010, its anonymous creator, Satoshi Nakamoto, disabled it along with a number of other opcodes because of worries about scripts that might be created and result in vulnerabilities.
The implementation of the idea on the mainnet is still up for debate in the Bitcoin community. The possibility of an OP_CAT soft fork depends on a number of factors, including community consensus, technical issues, and security concerns. It is, nevertheless, accessible on the testnet right now.
StarkWare stated that it is openly supporting the proposal’s acceptance due to the obvious advantages it opens up for the Bitcoin community and the blockchain ecosystem as a whole.
What is the Signet of Bitcoin?
Like other Bitcoin testnets, the Signet network is used as a test network to let developers to test new tools, features, and apps in a controlled setting before releasing them on the mainnet.
Signet, on the other hand, is distinct from conventional Bitcoin testnets because of its centrally managed structure, increased stability, and defense against spam and other bad actors.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
