In the second-level network of the blockchain Ethereum Starknet will be launched staking Bitcoins to earn Starknet tokens (STRK).
Starknet users are expected to be able to lock their BTC on September 30th. Detailed information on how to do this is promised to be published immediately after the service launches. It’s unclear what kind of revenue this will generate. staking Bitcoins, but it is known that the reward will be paid in the native cryptocurrency of the Starknet network.
Eli Ben-Sasson, CEO of StarkWare, the developer of Starknet, called hodling the main drawback of BTC. The lion’s share of the cryptocurrency sits as dead weight in wallets, as evidenced by the fact that DeFi Only $20 billion worth of Bitcoin is locked up, with a market capitalization of $2 trillion. This means that only 1% of issued BTC generates income for their owners. In this regard, Bitcoin It is significantly inferior to Ethereum because about 20% of ETH generates profit in decentralized services.
Eli Ben-Sasson
Stacking Starknet’s Bitcoin wallet is designed to provide BTC holders with a source of passive income. However, locking coins exposes them to the risk of theft, and it’s unclear how StarkWare will address this issue. The announcement of the new service only states that stakers will retain control of their coins. However, the exact location of the coins’ storage remains unknown.