Founded in 2018, Starkware is a blockchain technology company focused on solving the problem of blockchain scalability. Their goal is to provide Layer 2 solutions to improve network performance, while ensuring the security and privacy of transactions. To achieve this, they have developed their own core technology called STARK (Signature Token and Authentication of Resource-constrained K).
STARK is a zero-knowledge proof that allows verification of the validity of transactions outside the main blockchain. This provides a significant improvement in blockchain scalability and performance, while ensuring the security and privacy of transactions. In 2019, Starkware announced the development of StarkNet, a Layer 2 solution for Ethereum that uses STARK technology to improve scalability and network performance.
StarkNet is a Zk-Rollup, a solution that aggregates multiple transactions into one to reduce transaction processing fees. This means that users can transact on Ethereum faster and at lower cost. In addition, StarkNet can be used to run complex smart contracts, which is particularly useful for developers.
In conclusion, Starkware is an innovative blockchain technology company that solves one of the key challenges facing blockchain: scalability. Their STARK core technology, along with their Layer 2 solution, StarkNet, offers significant advantages in transaction processing capacity, cost, and security for developers and end users.