Starknet is a decentralized Layer-2 network that enables Ethereum to scale securely. It uses math and cryptography to securely scale Ethereum. It operates as a Validity-rollup (or ZK-rollup): it "bundles" many transactions and "rolls" them to Ethereum as a single transaction. Starknet uses StarkWare's STARK technology, which is a provably secure zero-knowledge proof system. This means that Starknet can provide the same level of security as Ethereum while being significantly more scalable. Starknet has a number of benefits. It is significantly more scalable than Ethereum, able to process thousands of transactions per second compared to Ethereum's current capacity of a few dozen. This makes Starknet ideal to develop decentralized applications that require high throughput, such as gaming and DeFi. Thanks to Starknet’s use of StarkWare's STARK technology, it can be trusted to protect users' funds and data. Starknet is comparatively way more cost-effective than Ethereum, with transactions costing a fraction of what they do on the base chain. This makes Starknet more accessible to a broader range of users. Starknet also greatly helps you in creating tokens on it. The blockchain also enables dApps to achieve unlimited scale for transactions and computations. Moreover, it has the potential to revolutionize the Ethereum ecosystem. It could make Ethereum more scalable, secure, and accessible to a broader range of users. This could lead to the mass adoption of Ethereum and decentralized applications. Excited about Starknet? How about creating an ERC-20 token on the blockchain by enrolling here?
Founder: Uri Kolodny
Launched On: 2021-11-28
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