21 0
Starknet Partners with Alpen Labs for Secure Bitcoin-DeFi Bridge Development
Starknet and Alpen Labs Partnership
- Starknet collaborates with Alpen Labs to create a secure, trust-minimized bridge between Bitcoin and Starknet.
- The bridge aims to enhance DeFi capabilities for native Bitcoin holders on Starknet.
- The project was confirmed on October 15.
New Security Model
- Avoids traditional bridging models that have security vulnerabilities.
- Utilizes two-party computation protocol based on garbled circuits, eliminating trusted intermediaries.
Starknet's Strategy
- Part of Starknet's plan to scale Bitcoin as part of the "BTCFi on Starknet" initiative.
- The Starknet Foundation awarded Alpen Labs a grant for the development and audit of a shared Glock verifier.
- Supported by a 100 million STRK incentives program.
- Alpen Labs' technology claims 430-550x efficiency over models like BitVM2.
Market Context
- The bridge allows users to stake and borrow Bitcoin without wrapping.
- Launch follows a volatile period in the Bitcoin market, with $19.35 billion in liquidations.
- Institutional interest remains, with Strategy Inc. accumulating 220 BTC.