What do you think of @Starknet's announcement to enter the BTC layer2 field? In short: 1) The prerequisite for Starknet to expand Bitcoin is that the OP_CAT proposal is passed first, which is uncertain; 2) Starknet's entry into BTC layer2 may break the embarrassing situation of BTC's ecosystem being bright in the east and not in the west; 3) The trend of layer2 tending to layer1 is strengthening, and high performance will become Starknet's differentiated advantage? Next, let me talk about my opinion:
1) OP_CAT can realize the combined link processing of multiple UTXO unlocking Script byte strings, thereby greatly improving the programmability of the BTC main network. OP_CAT allows script fragments to be combined, and STARK proof is a very simple and efficient way of computational verification. With the foundation of OP_CAT, Starknet naturally has the ability to batch transactions to the BTC main network through STARK proof and perform ZK Validity verification.
However, it is still uncertain whether OP_CAT can be passed. Even if OP_CAT is passed, there are still many unknown challenges to its perfect combination verification processing for large-scale layer2 transactions. Therefore, Starknet's entry into BTC layer2 can only be regarded as a narrative direction.
Theoretically, as long as OP_CAT is passed, not only Starknet, but other Ethereum layer2s with ZK-Rollup can also queue up to join in. Other BTC expansion plans such as BitVM, AVM, RGB, RGB++, Lightning Network, etc. will also get "gain buffs". It is still unknown whether Starknet's expansion plan can gain an advantage at that time.
2) On the contrary, I think that whether it is Starknet’s narrative or its ambition to expand market application scenarios, its choice of BTC layer2 is a big boon to the overall BTC ecosystem. At least it can attract more Western capital attention to the BTC ecosystem and provide stronger support for the rationality of the existence of BTC layer2.
Moreover, the fact that a project of Starknet’s level can promote the implementation of OP_CAT will increase the possibility of its passing. There may be some capital operations behind such a high profile. (Although Bitcoin Core member Peter Todd has publicly stated that Starknet’s entry has added new reasons to oppose OP_CAT, believing that it will have a destructive impact on Bitcoin.
From a positive perspective, it will drive the capital behind Starknet to bullish BTC layer2, connect to the ecosystem developers radiated by Starknet, and at the same time, Starknet will explore and improve the corresponding technical standards and new technologies to integrate with the BTC ecosystem. It will continue to enhance the comprehensive capabilities of the Starknet chain and attract more capital and developers in the direction of BTC layer2, which has a "banner-like" appeal.
3) I wrote an article before saying that as modularization splits and recombines the DA layer, execution layer, and even the settlement layer, layer2 projects are gradually becoming layer1. Now, even Ethereum's most loyal layer2 project Starknet has announced its "defection". It's not that the child is too old to be disciplined, but that there is a lot more to come.
Everyone must have noticed that with the successive launch of the Stack strategy by OP-Rollup and ZK-Rollup, the lightweight deployment services of "one-click chain launch" and "Rollup as a Service" have driven the cost and efficiency of launching layer2 chains to an unprecedented low. The question is, with too many chains, what should we do if the ecological applications and user growth cannot keep up?
It can only further expand the narrative of technical scalability. Starknet published a document a while ago saying that Starknet is already the chain with the highest TPS, and the Fee has been reduced to $0.01. It also supports parallel transaction processing. The subsequent Volition will further reduce the DA cost, etc. However, who cares? These cannot bring new growth expectations to the market. In contrast, it would be different if Starknet could break away from Ethereum and extend to Bitcoin application scenarios.
Once Starknet breaks free from the constraints of the Ethereum mainnet, its potential will no longer be limited to layer2. Its ZK underlying technology, parallel transactions, Cario language and other high-performance foundations will become its core advantages that distinguish it from other layer2s.
Because, if layer2 wants to become layer1, it must be based on ultra-high performance technology, and Starknet does not lack technology. Obviously, from this perspective, it is difficult for the market expectations for Starknet not to increase. God knows, one day Starknet will not issue a notice to become a ZK unified layer and become the ZK infrastructure of the full chain environment.
Anyway, once the narrative constraints of layer 2 are broken, Starknet's imagination space will be very different.
