Starknet has formally launched strkBTC, a Bitcoin-based asset that supports private balances and confidential transfers.
According to a recent report by The Block, strkBTC is designed to provide privacy features while maintaining compatibility with DeFi applications.
In February, strkBTC was described as a Bitcoin-wrapped asset operated on Starknet rather than on Bitcoin’s base layer. Starknet said it applies zero-knowledge cryptography to protect balances and transaction history while enabling responses to audits, tax reporting and legal requirements.
strkBTC also supports re-anonymisation and enables asset screening and auditability. Starknet plans to continue expanding confidential DeFi features.
strkBTC emerged from concerns that Bitcoin holders’ identities could be exposed through public blockchain data. Seo
Unlike existing privacy protocols, strkBTC is designed to disclose information within the necessary scope when there is a lawful request.
Starknet aims to use this structure to broaden areas where BTC use has been limited, including sensitive payroll payments, commercially sensitive settlements and strategic capital management.
Chi-gyu Hwang
delight@d-today.co.kr