Starknet Launches New Bitcoin-Based Asset strkBTC, Supporting Balance Masking and Private Transfers

Odaily News Starknet, an Ethereum Layer 2 network developed by StarkWare, announced that it will launch a new Bitcoin-based asset called strkBTC, which supports balance masking and private transfers while maintaining full composability within decentralized finance (DeFi) applications. It is reported that strkBTC allows Bitcoin holders to interact with Starknet DeFi while protecting transaction amounts and counterparties from public view. The system issues strkBTC based on verifiable Bitcoin deposit confirmations, avoiding arbitrary control during the issuance process. (The Block)