StarkWare, the developer of the Starknet L2 network, plans to increase transaction processing speed by four times and reduce fees by five times in anticipation of a boom in user activity. StarkWare CEO Eli Ben Sasson spoke about this in an interview with the publication Cointelegraph.
The performance gains will be attributed to “better compilation and execution” of code in Cairo, Starknet’s native programming language. The developers intend to implement the necessary updates within three months.
October 29 project put personal record for average throughput per day – 127 TPS. According to Ben Sasson, after the updates this figure will exceed 1000. For comparison, at the time of writing the Solana network processes 800-1050 transactions per second.
The promised fivefold reduction in commissions will put Starknet in charge list of the cheapest networks. Users currently pay $0.002 per transaction, and after the update the cost should drop to $0.0004 – three times cheaper than current leader Optimism with an average of $0.0014 over the past month.
CEO StarkWare predicts that the cost reduction of operations will be carried out over the next year. In his opinion, this is a critical part of preparing for the impending boom in market activity.
The developers have already deployed solution with reduced gas prices Starknet v0.13.3 on the test network. The update is expected to be released on the mainnet by the end of the week.
One part of L2 scaling is Ethereum increasing its blob capacity. The other part is rollups becoming more data-efficient. Good to see @Starknet rising to the challenge.
Would love to see more EVM rollups increasing data efficiency too (see https://t.co/HZijLDNqog ) https://t.co/0MTasPyPEg
— vitalik.eth (@VitalikButerin) November 18, 2024
Vitalik Buterin praised Strarknet’s work to create more efficient rollups and noted that this is part of the solution to the problem of L2 scaling.
At the time of writing, the STRK token is trading around $0.48, up 6% in 24 hours.
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Source: Cryptocurrency
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