Search Results for: StarkNet

StarkWare, the force behind Starknet blockchain, plans to restore accessibility of digital currency for users, following outcry over wallets turning empty after a major tech upgrade. Those who didn’t timely upgrade their Argent or Braavos wallets experienced the issue. Starkware underlined paradoxes of tech advancements in the crypto sphere, balancing benefits against potential user frustrations.

“The Ethereum layer-2 network, Starknet, has announced its venture into software tools dubbed “Starknet Stacks” for developing personalized layer-2 chains, paving the way for application-specific “appchains”. The move presents opportunities for wider, interoperable blockchain ecosystems, better user interfaces, and increased transaction throughput.”

StarkNet, Ethereum’s scaling solution, test launched StarkNet Quantum Leap, a layer-2 network aiming at performance enhancement and throughput improvement. With throughput increased tenfold, this upgrade could quicken transaction processing significantly. Despite often compromising a network’s decentralization, this high throughput is critical for user-friendly, decentralized finance applications. StarkNet’s new upgrade also plans to substitute the “PENDING” transaction status with “ACCEPTED_ON_L2”.

Starknet’s upcoming Kakarot testnet, launching in August, aims to achieve Ethereum Virtual Machine (EVM) compatibility for the layer-2 scaling solution. Backed by prominent figures like Vitalik Buterin, this development seeks to remove hurdles for developers and improve rollup performance in the Ethereum ecosystem.

The Starknet Foundation recently appointed former Meta executive Diego Oliva as its inaugural CEO, marking a significant milestone. Tasked with driving ecosystem growth and decentralization efforts, Oliva, who has a diverse background, will lead the foundation, which now boasts a seven-person board and a reserve of 5.01 billion tokens.

Starknet, an open-source framework by StarkWare, aims to bring scalability and privacy to Ethereum-based dApps. Its total value locked has reached an all-time high of $10.49 million, with layer-2 scaling technique zero-knowledge rollups and Rust-inspired programming language Cairo fueling its growth.

Alchemy’s integration of StarkNet, the zero-knowledge (ZK) rollup scaling solution, signifies a potential turning point for mainstream blockchain adoption. The platform offers faster, cost-effective transactions and account abstraction for flexible crypto wallets, fueling developers’ interest in innovative blockchain applications. However, increased complexity and steep learning curves could present challenges.

“Manta Network has launched its zero-knowledge proof layer 2 scaling network, an innovative platform for ZK-enabled DApp development. This introduces increased throughput and reduced gas fees, promising future DApps realm expansion. However, challenges and regulatory issues, as highlighted by the Celsius incident, suggest the need for careful navigation in blockchain tech.”

“Blockchain networks may face growth obstacles due to “chain tribalism”, resistance to cross-chain collaboration. However, a shift towards chain interoperability, or different blockchains interacting, is expected by 2023. Notable upcoming developments aim to enhance this interoperability, although existing methods risk security breaches and require improvement.”

“StarkWare, the firm behind Ethereum scaling solution Starknet, recently announced its decision to release an estimated $550,000 worth of cryptocurrency caught in a system upgrade. This highlights the complexity and potential vulnerability within the swift progress and innovation of the blockchain ecosystem.”

Ethereum scaling firm Polygon has unveiled a toolkit for blockchain developers to create customized Layer 2 chains with zero-knowledge (ZK) proofs. This opens up potentials for evolving ‘Supernets’ using the firm’s ZK technology, aiming to build the “Value Layer of the internet”.

Immutable is testing its new blockchain technology layer, zkEVM, aiming to reduce reliance on singular network infrastructure. The zkEVM, designed to lower gas fees and boost transaction rates, seamlessly integrates with the Ethereum Virtual Machine, enabling easy transition of existing smart contracts. However, developer autonomy brings potential risks and challenges in infrastructure connectivity.

“Paradigm extends its services to decentralized finance (DeFi) through Paradex, a decentralized perpetuals platform. This hybrid derivatives exchange integrates liquidity and efficiency of centralized finance with transparency, self-custody, and trustlessness inherent to DeFi. Paradigm’s DeFi-CeFi fusion presents a new investment avenue.”

“Blockchain technology combines with zero-knowledge proofs (ZK-proofs) and AI for improved smart contract solutions. Despite challenges, experts remain optimistic about its future. Integration of ZK-proof with AI hints at a transformative occurrence that continues shaping blockchain’s promising future.”

“Starknet’s latest upgrade, “Quantum Leap,” significantly improves Ethereum’s transaction processing speed, potentially enabling hundreds of transactions per second. This upgrade facilitates faster, efficient, and seamless network functionalities for developers, allowing real-time on-chain transaction confirmations. The upgrade, however, is still early-stage, and future success hinges on real-world application and user adoption.”

StarkWare’s innovative product, Volition, aims to drastically reduce Ethereum transaction fees, enabling micropayments comparable to Bitcoin’s Lightning Network. Set to launch with Starknet v0.13.0, Volition promises to provide users more control over transactions and foster wider crypto adoption, particularly in developing economies.

Storage proofs, a cryptographic method aiming to revolutionize cross-chain asset transfers, may provide a more secure alternative to vulnerable bridges in the growing blockchain ecosystem. Starknet plans to be the first network to natively integrate storage proofs, potentially eliminating intermediary third-party “oracles,” offering enhanced security and user experience for asset transfers.

Matter Labs’ zkSync Era, a zero-knowledge rollup technology for scaling Ethereum, has seen its total value locked (TVL) surpass $500 million. This reflects a 12% growth in one week, indicating strong demand for advanced scaling solutions in the decentralized finance (DeFi) space.

Optimism’s Bedrock release has significantly reduced gas costs, with average fees per transaction decreasing by 74.5% in USD and 73.9% in ETH. This upgrade prepares Optimism for a Superchain future and emphasizes collaboration in the interchain world, driving innovation and benefiting users and developers.

Ethereum’s co-founder, Vitalik Buterin, emphasizes the need for addressing “The Three Transitions” – L2 scaling solutions, smart contract wallets, and enhanced privacy, to ensure Ethereum’s growth and future success. Overcoming the “blockchain trilemma” is crucial in maintaining user confidence, trust, and fostering mass adoption.

Cumberland Labs’ incubator arm has unveiled a beta version of expand.network, a universal API tool designed to simplify connections to blockchain and DeFi protocols. This service offers both read and write connectivity across major public blockchains, enhancing efficiency and user-friendliness in cross-chain communication and DeFi landscape navigation.

Cryptocurrency platform Compound Finance is deploying its latest iteration on scaling solution Arbitrum, focusing on selected cryptocurrencies like ETH and WBTC. This development represents a commitment to optimizing technology and making lending and borrowing idle digital assets more affordable.