Starknet Foundation Optimizes Ethereum Transaction Fee Reduction

The Starknet Foundation, an organization focused on developing blockchain technology, announced a series of optimizations aimed at reducing transaction fees on the Ethereum network. These steps will go hand in hand with the Dencun Ethereum upgrade.

Reduced Transaction Costs

The Starknet Foundation released version 0.13.1 of Starknet, which will utilize EIP-4844 once Dencun launches on mainnet tomorrow. This update will replace more expensive data transaction methods ("calldata") with more cost-efficient transaction types ("blobs"). Thus, users will experience a significant reduction in costs.

Blob transactions, also known as EIP-4844 or proto-danksharding, will be an additional feature on the Ethereum network. This will increase data availability without impacting existing infrastructure, resulting in cheaper transactions across Layer 2 rollups such as Starknet.

Diego Oliva, CEO of Starknet Foundation, stated, "More than any other L2 user, they are expected to see immediate cost cuts from Dencun. This is because Starknet costs have the highest proportion of Data Availability costs, where savings are made. But this is just the beginning."

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Prover Optimization

In addition to integrating EIP-4844, Starknet Foundation plans to improve the performance of the prover. Prover is a key component in the Starknet system that ensures the validity of transactions. With pro optimization, transaction verification time can be accelerated, thereby increasing efficiency and reducing costs.

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Impact on Users

Ethereum users, especially those active on Layer 2 networks, can expect to benefit from this change. Lower transaction fees will allow more people to participate in DeFi ecosystems, NFTs, and other decentralized applications.

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How to Buy Starknet (STRK) on Bittime

You can buy and sell Starknet (STRK) in an easy and safe way through Bittime. Bittime is one of the best crypto applications in Indonesia that has been officially registered by Bappebti.

Starknet (STRK) is available on Bittime with market pair STRK/IDR. To be able to buy STRK IDR on Bittime, make sure you have registered and completed identity verification. In addition, also make sure that you have enough balance by depositing some funds into the wallet. For your information, the minimum asset purchase at Bittime is Rp10,000. After that, then you can make a crypto asset purchase in the application.

Learn the complete guide on how to buy Starknet (STRK) on Bittime.

Monitor the price chart movements of Shiba Inu (SHIB), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

Also Read:

Interesting Facts About the Ethereum Dencun Upgrade, Must Know!

What is Starknet (STRK)? An Ethereum Scalability Revolution

Starknet Begins to Respond to STRK Token Airdrop Issue

DISCLAIMER: This article is informational in nature and does not constitute an offer or solicitation to sell and buy any crypto asset. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices may change significantly from time to time and Bittime is not responsible for fluctuations in crypto asset exchange rates.