The post Threshold brings Bitcoin to Starknet with tBTC appeared on BitcoinEthereumNews.com.
Today, Threshold Network announced the launch of tBTC on Starknet, bringing the Bitcoin asset into its DeFi ecosystem. tBTC: Starknet’s DeFi welcomes Bitcoin tBTC aims to be the main decentralized asset backed 1:1 by Bitcoin within the layer-2 of Starknet. This will expand multi-chain access to Bitcoin, and make Threshold a more accessible decentralized Bitcoin bridge. The arrival of tBTC on Starknet opens new native DeFi opportunities concerning Bitcoin. The integration with Starknet allows the direct minting of tBTC through the Threshold interface. This way, users can deposit Bitcoin and access the DeFi ecosystem of Starknet. The objective is to strengthen the position of tBTC as a decentralized and widely accessible wrapped Bitcoin solution across multiple networks. Furthermore, such an approach lays the groundwork for potential advanced Bitcoin DeFi strategies, including, for example, automated yield vaults, liquid BTC staking tokens, and composable lending solutions that uphold Bitcoin’s decentralized principles. Thanks to tBTC, operational on eight blockchains, Threshold Network has created the most comprehensive decentralized Bitcoin bridge infrastructure possible. The multi-chain presence of tBTC allows users to access Bitcoin’s DeFi opportunities, maintaining custody and mitigating the risks of centralization. The layer-2 zk-rollup Starknet The integration with Starknet is a strategic expansion of zero-knowledge rollup technology. It combines the security of Bitcoin with advanced scalability solutions, so by leveraging the high processing capacity and low fees of Starknet, tBTC users can adopt sophisticated DeFi strategies without compromising decentralization or security. In fact, Starknet Foundation is a decentralized and permissionless ZK-rollup based on Ethereum, which offers high scalability, low fees, and rapid finality. Based on STARK proofs, and developed by StarkWare, it is designed to offer long-term composability, security, and flexibility for developers. Threshold Network Threshold Network is a decentralized protocol that combines cryptographic primitives and on-chain infrastructure to support permissionless applications. It…