Starknet Chinese Community

Selected Overview

• Introduce STARK proof technology to the Bitcoin network, significantly expanding Bitcoin's application scenarios
• Make Ethereum's digital commons more inclusive
• Flexibly leverage the advantages of both Ethereum and Bitcoin

Financial System in Urgent Need of Restructuring

The Starknet Foundation is committed to building a world of shared power, compensated creativity, and opportunities for everyone. As Starknet L2 gradually becomes the first protocol to support settlements on both Bitcoin and Ethereum, it is necessary to discuss this vision: how this vision has guided us to where we are today; why we believe the Bitcoin network can help us achieve this vision.

The limitations of the current digital world are evident: funds, data, and power are concentrated in the hands of a few, making it difficult for most people to access opportunities and participation rights, resulting in a lack of diversity, creativity, and innovative vitality across the internet. This is not the original intention of the internet. However, like many developmental trajectories, we often choose to ignore problems due to our familiarity with the status quo, only realizing the issues when cracks appear in the system.

The Rise of Digital Gold

The 2008 financial crisis was such a moment of systemic collapse. We painfully recognized the limitations of the traditional financial system: the inability to establish absolute trust in financial institutions, while also realizing the urgent need for a mechanism that allows everyone to independently control their assets. Thus, Bitcoin was born.

Bitcoin emerged in 2009, ushering in a new financial era that had long been envisioned but not realized. For the first time, we had a truly global circulating currency system—without intermediaries, without traditional bank accounts, free from government intervention and policy regulation. This community-driven monetary system is open to everyone, regardless of wealth, social status, or nationality.

Like many emerging technologies, Bitcoin initially faced technical bottlenecks and negative impacts from malicious participants, which constrained its widespread adoption. Slow transaction speeds, complex user experiences, limited token use cases, and the early label of being "primarily used for illegal activities" all became obstacles to Bitcoin's development. Therefore, despite Bitcoin being well-known to the public, it has never fully broken into the mainstream market or unleashed its full potential to change the world.

The Birth of Global Public Infrastructure

Six years after Bitcoin's emergence, another important player in the blockchain space came into being. Unlike Bitcoin, which focuses solely on monetary attributes, Ethereum aims to establish a global public infrastructure platform where people can create various decentralized applications, from monetary systems to identity verification and governance mechanisms. In a sense, Ethereum is a global computer. However, like Bitcoin, Ethereum was initially limited by its own technical bottlenecks: complex user experiences, new conceptual frameworks, and entirely new programming languages restricted Ethereum's early adoption.

To this day, although many L1, L2, and L3 solutions have emerged in the market, Bitcoin and Ethereum remain the largest and most influential projects in the Web3 space, and they are the key forces most likely to bring this world-changing technology to everyone. This is where Starknet comes into play.

Achieving Web3 Scalability

Although Starknet was initially deployed on Ethereum, it was not created solely for Ethereum. Starknet aims to utilize STARK proof technology to provide scalability solutions for any blockchain, creating a secure and trustworthy digital world through complete verifiability. From the beginning of the project, we envisioned that this possibility would also apply to the Bitcoin network. After years of research and exploration, we finally have the capability to put this vision into practice.

Starknet is building the necessary infrastructure and establishing corresponding partnerships, which not only marks significant progress but is also exciting. Perhaps even more anticipated are the new possibilities this step will bring and its important significance for the entire digital world.

A New Cornerstone for the Digital World

By supporting developers to use the same codebase to build applications that can settle on both Bitcoin and Ethereum networks, we will significantly expand Bitcoin's application scenarios and make Ethereum's digital commons more inclusive through faster transactions, higher scalability, and lower costs. For the first time, developers will have the right to freely choose between the two major blockchains—flexibly leveraging the advantages of both Ethereum and Bitcoin based on specific application scenarios.

Satoshi Nakamoto's original vision was to create a digital peer-to-peer payment system that could operate on a large scale without centralized institutions, but this has not yet been fully realized. By introducing STARK proof technology to the Bitcoin network, we are helping to fully realize this technological blueprint. This will trigger a significant transformation in financial inclusivity and accessibility, open up new markets, and lay a solid foundation for completely reshaping the digital world. All of this not only aligns closely with Satoshi Nakamoto's original vision but is also the ideal that the Starknet Foundation has always pursued.

Today, we stand at the forefront of this exciting transformation, and Starknet is leading the way.

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