Contents
- Here’s how StarkNet is pushing barriers to Ethereum (ETH) scaling
- The STARK token will be released in the coming months
Ethereum L2 StarkNet processes more transactions than Bitcoin: Data
Vladislav Sopov
Here’s how major Ethereum (ETH) scaling solutions eclipsed the #1 blockchain by weekly transaction count
StarkNet is one of the most technically advanced second-layer solutions for the Ethereum (ETH) network. Its founders Eli Ben-Sasson and Uri Kolodny explained how it helps other blockchains scale.
Here’s how StarkNet is pushing barriers to Ethereum (ETH) scaling
In the latest episode of The Defiant Podcast, the StarkWare co-founders sat down with Camila Russo to discuss how their network is tackling the challenges of Ethereum (ETH) scalability.
Around 3-6 million transactions/week are processed on StarkNet (more than $BTC a few weeks!) 😱
Using ZK-STARK technology, $ETH could surpass the TXN speeds of @Visa within just a few months
This is how @StarkWareLtd founders @EliBenSasson & @ukolodny planning to increase Ethereum scaling👇
— The Defiant (@DefiantNews) 8 October 2022
The protocol uses ZK-STARKs, a proof system that allows the Verifier and Approver modules to interact in a secure, seamless and resource-efficient manner. This mechanism makes it possible to “compress” transactions and reduce the pressure on the Ethereum (ETH) mainnet without sacrificing security and privacy:
It allows you to make sure the right thing was done, even when no one was looking
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To use the StarkNet solutions, cutting-edge DeFis (including the likes of Immutable X, dYdX, Sorare, and so on) can use StarkEx, a System as a Service offering powered by custom APIs.
Due to its impressive technical performance, unmatched security and negligible fees, StarkNet sees it taking off: the ecosystem processes up to 6 million transactions per week, which is more than Bitcoin (BTC), the first cryptocurrency.
The STARK token will be released in the coming months
To promote protocol decentralization, the StarkWare team is going to release the STARK token in the coming months. The token will merge the advantages of a tool and a governance tool: STARK will be accepted for gas taxes, referendums on protocols, staking mechanisms and solutions for data availability.
As covered by U.Today earlier, StarkWare recently released Cairo 1.0, the first major upgrade to its proprietary Cairo programming language.
Sierra (Safe Intermediate Representation), an intermediate layer for transaction verification control, is among the most important developments in the new release.
