strkbtc

The Ethereum Layer 2 network Starknet developed by StarkWare officially launched strkBTC, a new type of asset based on Bitcoin, designed to achieve privacy balances and anonymous transfers through zero-knowledge proof (ZK) technology, while maintaining composability with DeFi applications.After the launch of strkBTC, it supports "re-anonymization," allowing assets to be bridged back to a new, unassociated Bitcoin address, and provides compliance auditing and asset screening functions.

The Ethereum Layer 2 network Starknet, developed by StarkWare, announced the launch of a new type of asset based on Bitcoin, strkBTC, which supports balance shielding and private transfers while maintaining full composability in decentralized finance applications.It is reported that strkBTC allows Bitcoin holders to interact on Starknet DeFi while keeping transaction amounts and counterparties private. The system will deterministically issue strkBTC based on verifiable Bitcoin deposits, avoiding arbitrary control during the issuance process.

According to the official blog, Starknet has announced the launch of a new type of wrapped asset, strkBTC, aimed at providing optional privacy protection features for Bitcoin. strkBTC is an asset issued on Starknet that can be exchanged bi-directionally for native Bitcoin, designed to address the financial privacy leakage issues caused by the transparency of the Bitcoin ledger.strkBTC supports two modes: in "non-shielded mode," it operates as a standard ERC-20 token, with balances and transfers publicly verifiable; in "shielded mode," asset balances and transaction details will be hidden. This privacy mechanism is designed based on pragmatism, defaulting to confidentiality for the public, but supporting compliance audits through a Viewing Key to ensure it can operate in regulated environments. With strkBTC, users can participate in DeFi collateralization or settlement without exposing their positions and strategies. Starknet states that strkBTC will be officially launched soon and will gradually expand its privacy features in the future.