Author: d1namiiit Compilation: Shanooba, LianGuai
StarkWare is a ZK-Rollup solution for blockchain scalability. One of their products is StarkNet, a promising L2 solution with the potential to become the largest scalable L2 solution on Ethereum. The main reason is that its underlying technology, STARK, has been tested and used for transactions worth nearly $1 billion, processing over 380 million transactions and minting 100 million NFTs.
$283.5 million comes from Coinbase Ventures, LianGuaiRadigm, Sequoia Capital, Three Arrows Capital, Polychain, Alameda Research, Intel, and even Vitalik Buterin himself.
Why is StarkNet considered a gem?
The newly appointed CEO of StarkNet is Diego Oliva, who comes from the CEO position at Facebook and is from Israel. StarkNet’s plans are ambitious and he is still working on achieving them: 0.12 – We are here now, and the recent update has increased transaction speed to 5 seconds. 0.13 – Reduce gas fees. 0.14 – Add a commission market. 0.15 – Add shorter intervals between blocks.
They have already built an EVM blockchain based on Stark in Cairo, one of which is Kakarot, where Buterin himself has also entered. They have created their own language and built their own blockchain on it, that’s the level they are at.
Dapps and ecosystem projects have also raised a large amount of funding – Argent ($60 million), Braavos ($10 million), and others, which should also provide rewards.
Buterin himself has also invested in StarkNet, and he has expressed his optimism about StarkWare on this blog.
The $STRK token will be 100%, it was deposited into Ethereum a year ago. It is constantly being transferred somewhere, possibly to investors and contributors. It is currently being delegated and actively voted. In terms of token economics, we have allocated at least 9% of the tokens: 9% is community-determined.
Now the entry barrier for this project is much lower than that of ZkSync, with half as many wallets here. Less than 10% of wallets require a small number of transactions (statistics): only 13% with more than 20 transactions, 0.1 ETH+ bridged and trading volume also increased by 13%, and 11-day activity increased by 20%. Most importantly, ZK now has 3.8 million wallets, while Stark has only 1.8 million wallets.
StarkNet is still in the alpha stage, and we are in the early stages, so it’s not too late to get involved. I heard from the chat that decentralization will take about 6 more months. I believe they will launch sometime in the first quarter of 2024.