Vladislav Sopov
Here’s how the big Ethereum (ETH) scaling solution has eclipsed the #1 blockchain by weekly transaction count
contents
- This is how StarkNet overcomes the barriers of Ethereum (ETH) scaling.
- STARK token will be released in the next few months
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 the second blockchain scale.
This is how StarkNet overcomes the barriers of Ethereum (ETH) scaling.
In the latest episode of The Defiant Podcast, StarkWare co-founders sat down with Camila Russo to discuss how their network is addressing Ethereum (ETH) scalability challenges.
About 3-6 million transactions/week are processed on StarkNet (in some weeks more than $BTC!) 😱
With ZK-STARK technology, $ETH could surpass @Visa transfer speeds within months
This is how the founders of @StarkWareLtd @EliBenSasson & @ukolodny plan to improve Ethereum scaling👇
— The Defiant (@DefiantNews) October 8, 2022
The protocol uses ZK-STARKs, a verification 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 relieve pressure on the Ethereum (ETH) mainnet without sacrificing security and privacy:
So you can be sure the right thing was done, even when no one was looking
To sue
To deploy the StarkNet solutions, cutting-edge DeFis (including Immutable X, dYdX, Sorare, etc.) can use StarkEx, a system-as-a-service offering backed by custom APIs.
Because of its impressive technical performance, unmatched security, and negligible fees, StarkNet sees its adoption gaining momentum: the ecosystem processes up to 6 million transactions per week, which is more than Bitcoin (BTC), the first cryptocurrency.
STARK token will be released in the next few months
To further the decentralization of the protocol, the StarkWare team will release the STARK token in the coming months. The token will combine the benefits of a utility and a governance asset: STARK will be accepted for gas fees, protocol referendums, staking mechanisms and data availability solutions.
As previously reported by U.Today, StarkWare recently released Cairo 1.0, the first major upgrade to its own Cairo programming language.
Sierra (Safe Intermediate Representation), an intermediate layer to control transaction verification, is one of the key developments of the new release.
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