StarkNet: Starkware’s answer to the problems of blockchain
Blockchain is a fascinating technology, but it is not without its limitations. One of its main challenges is scalability, the ability to handle a large number of transactions at the same time. As the use of blockchains increases, the issue of scalability becomes more and more urgent. This is where Starkware comes in.
Blockchain, Ethereum, Crypto, Layer 2
2023-05-05
Table of contents
The challenges of blockchain scalability
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 technology from Starkware
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: The Starkware Layer 2 Solution
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.
- The benefits of Starkware's Layer 2 technology are numerous. It allows for a clear increase in transaction processing capacity, reduced transaction fees, improved processing speed and increased security. This makes blockchain more accessible to ordinary users, which is essential for the widespread adoption of the technology.
Conclusion
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.
