Starknet

What’s Starknet?

Starknet functions as an additional network above Ethereum and is an open, decentralized Validity-Rollup, or “ZK-Rollup“. This design preserves Ethereum’s strong security and interoperability while providing decentralized applications with infinite processing power. Utilizing STARK, a cryptographic-proof technology known for its unparalleled security and scalability, Starknet is able to accomplish this feat. Starknet’s operating system and contracts, which are driven by the Cairo programming language, enable the smooth deployment and growth of a variety of business logic.

Who Are the Founders of Starknet?

Michael Riabzev, Uri Kolodny, Alessandro Chiesa, and Eli Ben-Sasson co-founded StarkWare Industries Ltd. in 2018. Ben-Sasson is the sole Co-Founder who continues to work diligently on the organization as of February 2024. Riabzev and Chiesa have left for different reasons. Ben-Sasson succeeded Kolodny as CEO in January 2024 after the latter resigned to concentrate on a family health matter.

What Makes Starknet Unique?

One notable feature of Starknet is its use of ZK-rollups, which allow smart contracts created in Cairo to be interoperable with Ethereum. Batching transactions into single proofs and so lowering congestion and gas costs provides flexibility, safety, and cost-effectiveness. Its compatibility with Ethereum promotes a smooth environment for NFTs, DeFi, and decentralized apps.

How Is the Starknet Network Secured?

Starknet utilizes the powerful cryptographic solutions of STARK technology. A type of zero-knowledge proof known as STARKs makes it possible to quickly and anonymously confirm that off-chain calculations are valid. The security of Starknet is firmly based on this innovation.

Where Can You Buy Starknet?

You can buy STRK on various exchanges, like Binance, Coinbase, and Kraken.

What’s next on Starknet?

Starknet’s 2024 roadmap takes community feedback into account with the goal of lowering prices and improving performance. Starknet v0.13.0, the first significant upgrade, increased block size and cut costs by 25%. EIP-4844, transaction parallelization, and Cairo-native integration are among the other enhancements. Scalability and adoption are encouraged by performance enhancements such as Applicative Recursion, Volition, Cairo Native integration, and concurrent transaction execution.