Starknet is one of the most promising and star projects in the Ethereum ecosystem. Its extraordinary potential has been eagerly awaited. However, what is Starknet? Check out the explanation here.
Understanding What Starknet is
In the blockchain world, innovations continue to emerge to overcome the challenges of scale and efficiency.
One project that stands out in this regard is Starknet, a solution that promises to become a star in the Ethereum ecosystem.
By leveraging the Rollup concept and ZK-STARK technology, Starknet has caught the attention of the crypto community as a potential solution for increasing scale and performance on the Ethereum network.
Rollup: The foundation of Starknet
What is a Rollup?
Rollup is a design paradigm in blockchain that moves most computing operations from the primary blockchain to a secondary layer or “rollup chain.”
The rollup aims to reduce workload on the main blockchain, increase transaction speed, and reduce gas fees.
Thus, Rollup works as a scaling solution that can improve blockchain network performance.
ZK-STARK: Technology Powering Starknet
Introduction to ZK-STARK
Zero-Knowledge Scalable Transparent Argument of Knowledge (ZK-STARK) is a zero-knowledge technology that allows proving the truth of a statement without having to reveal specific information that proves the statement.
In other words, ZK-STARK provides a high level of privacy and scalability in correctness proofing.
How ZK-STARK Supports Starknet?
Starknet uses ZK-STARK technology as a basis for security and privacy.
With ZK-STARK, Starknet is able to prove the validity of a transaction or computation without needing to reveal the specific details of the transaction.
This provides high security and privacy, in accordance with the basic principles of blockchain.
Digging Deeper: How Starknet Works
Starknet architecture
Starknet has a sophisticated architecture that includes a secondary layer (rollup chain) and a primary layer ( Ethereum ).
The rollup chain is responsible for the majority of transaction processing and computing, while Ethereum remains to serve as the final layer of security and settlement.
Transaction Process on Starknet
Computation on Rollup Chain
Initial computation is performed on the rollup chain, including smart contract execution and transaction validation.
ZK-STARK Proof
Once the computation is complete, ZK-STARK is used to prove the validity of the computational results without revealing the details.
Assurance on Ethereum
The proof of the rollup chain is then sent to the Ethereum main layer for final validation.
Advantages of This Architecture
High Scalability
With most of the computing done in the secondary layer, Starknet is able to increase transaction capacity and speed without sacrificing security.
Low Gas Costs
By moving the majority of the computing load away from Ethereum, users can enjoy lower gas fees in using applications running on Starknet.
High Privacy
The use of ZK-STARK provides a high level of privacy, keeping transactions and user data confidential.
What Will Make Starknet Stand Out in the Future?
Ecosystem Development Potential
Starknet is not only a scaling solution, but also a platform for innovative decentralized application development.
With low transaction costs and high privacy, Starknet can become the center of a new ecosystem for developers and users.
Support from the Community
Starknet has received significant support from the developer and investor community.
This is reflected in the growth of projects and applications built on Starknet, creating an increasingly diverse and evolving ecosystem.
Leading Projects Involvement
Several prominent projects, such as Kamino and Marinade Finance, have joined the Starknet ecosystem.
The involvement of these projects shows confidence in Starknet's vision and growth potential.
Looking Forward to the Future with Starknet
With the combination of Rollup and ZK-STARK, Starknet brings new hope for scale and privacy to the Ethereum ecosystem.
High support from the community and participation of leading projects mark the extraordinary potential of this project.
The future of blockchain will likely be defined by innovations like those brought by Starknet, which aims to be a star lighting the way to a more efficient and secure crypto ecosystem.
As users and market observers, we can anticipate the exciting developments that Starknet will bring in the next few years.
Also Read:
What is Ethereum Casper? Why is it Important?
What are Ethereum ERC-1155 Tokens?
What is Arbitrum (ARB)? The Largest Layer2 on Ethereum
Dencun Ethereum Upgrade Potentially Reduces Ether Burn
DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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