StarkWare announced that Bitcoin has successfully validated its first zero-knowledge proof using the new STARK validator on the Signet testnet.
In this process, firstly, the verification of a specific mathematical problem was carried out. Blockchain developer StarkWare aims to improve the design and perform more general calculations in the next phase.
StarkWare CEO Eli Ben-Sasson said, “We want to scale Bitcoin and unlock the potential of blockchain to transform the world.” He also said, “This is our first step towards achieving this goal. “We are showing the possibilities of Bitcoin with zero knowledge technology,” he added.
According to Ben-Sasson's previous statements, the solution developed by the company enables the Bitcoin network to scale without requiring any forks.
StarkWare's STARK validator uses the OP_CAT update to create Layer 2 solutions based on zero-knowledge proofs on the Bitcoin network. OP_CAT is an update developed to add transactions that can be performed through smart contracts on the Ethereum blockchain to the Bitcoin network.
StarkWare developed the Starknet project to scale the Ethereum network. Starknet has a token called STRK, which is used to pay transaction fees and staking.
Finally, StarkWare raised $100 million in its Series D investment round, bringing its total valuation to $8 billion.
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