Ethereum L2 StarkNet processes more transactions than Bitcoin: data

Vladislav Sopov

This is how the leading Ethereum (ETH) scaling solution eclipsed the #1 blockchain based on weekly transaction count

Contents

  • This is how StarkNet pushes the scaling barriers of Ethereum (ETH)
  • The STARK token will be launched in the coming 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 to scale.

This is how StarkNet pushes the scaling barriers of Ethereum (ETH)

In the latest episode of The Defiant Podcast, the StarkWare co-founders sat down with Camila Russo to discuss how their network addresses the challenges of Ethereum (ETH) scalability.

The protocol employs ZK-STARK, a test 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 pressure on the Ethereum (ETH) mainnet without sacrificing security and privacy:

Allows you to make sure the right thing was done, even when no one was looking

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To employ StarkNet solutions, DeFi frontiers (including Immutable X, dYdX, Sorare, etc.) can use StarkEx, a System-as-a-Service offering powered by custom APIs.

Due to its impressive technical performance, unrivaled security, and negligible fees, StarkNet sees its adoption gain momentum: the ecosystem processes up to 6 million transactions per week, which is more than Bitcoin (BTC), the first cryptocurrency.

The STARK token will be launched in the coming months

To further decentralize the protocol, the StarkWare team will launch the STARK token in the coming months. The token will merge the benefits of a utility and a governance asset: STARK will be accepted for gas tariffs, protocol referendums, staking mechanisms, and data availability solutions.

As previously covered by U.Today, StarkWare recently released Cairo 1.0, the first major update to its own Cairo programming language.

Sierra (Secure Intermediate Representation), an intermediate layer for transaction verification control, is among the key developments in the new version.

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