Starknet Releases Version v0.13.1.1, Reduces Class Declaration Fee by 30 Times
In Brief
Starknet adjusted its class declaration fee for the Starknet v0.13.1.1 version, lowering it by 30 times following user feedback.
Ethereum Layer 2 blockchain Starknet made adjustments to its class declaration fee for the Starknet v0.13.1.1 version, lowering it by 30 times following user feedback. The Sepolia testnet is scheduled for deployment on April 8th, with the mainnet slated to launch on April 15th, as per the outlined upgrade timeline.
Starknet also emphasized the importance of all full node operators promptly upgrading their systems. Both Juno v0.11.4 and Pathfinder v0.11.5 are compatible with Starknet v0.13.1.1, ensuring a smooth transition for users
Starknet is a zero-knowledge rollup designed for Ethereum. As a Layer 2 blockchain, it empowers decentralized applications (dApps) to achieve extensive computational scalability, maintaining Ethereum’s interoperability and security features.
The primary goal of Starknet is to facilitate secure and cost-effective transactions while delivering high performance through the STARK cryptographic proof system. Starknet contracts and its operating system are coded in Cairo, a tailor-made and specialized programming language.
Recently, Starknet outlined its roadmap for 2024, planning the addition of parallel transactions. This enhancement is scheduled to be rolled out as part of the second quarter upgrade, enabling Starknet to handle a greater volume of transactions concurrently, thus boosting its overall throughput capacity.
Starknet Introduces Advanced v3 Transactions Enhancing Transaction Experience
The v3 transactions are designed to support several features, including a fee market, which facilitates an efficient transaction process for users, especially during network congestion periods. Furthermore, it supports volition mode, aimed at reducing data availability costs. Additionally, there’s a paymaster mechanism that enables entities other than the sender to cover transaction fees and nonce generalization, which enables users to send multiple transactions simultaneously by specifying different channels for different transactions. Starknet users can pay for transactions using either ETH or STRK.
Previously, the Starknet v0.13.0 version reduced Cairo step or builtin costs by 50% and featured a 10% reduction across the board for data availability. Additionally, it implemented a constant 240 gas discount per transaction and a 312 gas discount per every contract change.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
