CoinWorld.net reports on February 26 that, according to the official blog, Starknet has announced the launch of a new wrapped asset called strkBTC, designed to provide optional privacy features for Bitcoin. strkBTC is an asset issued on Starknet that can be exchanged bidirectionally with native Bitcoin, aiming to address privacy concerns caused by Bitcoin’s transparent ledger.
strkBTC supports two modes: in “non-shielded mode,” it functions as a standard ERC-20 token with publicly visible balances and transfers; in “shielded mode,” the asset balance and transaction details are hidden. This privacy mechanism is designed for practicality, defaulting to confidentiality for the public but allowing compliance audits via Viewing Keys, ensuring it can operate in regulated environments.
With strkBTC, users can participate in DeFi staking or settlement without exposing their positions or strategies. Starknet states that strkBTC will be officially launched soon and will gradually expand its privacy features in the future.
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Starknet launches strkBTC, supporting Bitcoin privacy transactions and asset shielding
CoinWorld.net reports on February 26 that, according to the official blog, Starknet has announced the launch of a new wrapped asset called strkBTC, designed to provide optional privacy features for Bitcoin. strkBTC is an asset issued on Starknet that can be exchanged bidirectionally with native Bitcoin, aiming to address privacy concerns caused by Bitcoin’s transparent ledger.
strkBTC supports two modes: in “non-shielded mode,” it functions as a standard ERC-20 token with publicly visible balances and transfers; in “shielded mode,” the asset balance and transaction details are hidden. This privacy mechanism is designed for practicality, defaulting to confidentiality for the public but allowing compliance audits via Viewing Keys, ensuring it can operate in regulated environments.
With strkBTC, users can participate in DeFi staking or settlement without exposing their positions or strategies. Starknet states that strkBTC will be officially launched soon and will gradually expand its privacy features in the future.