StarkWare’s StarkNet Alpha has launched on mainnet.
The product aims to cut Ethereum gas fees by a factor of 100 to 200.
A member of the StarkWare team said that users would be able to transfer funds to the Layer 2 solution “within the next few days.”
Share this article
StarkNet Alpha, a highly-anticipated Layer 2 scaling solution for Ethereum, has launched its alpha version on mainnet. StarkNet Alpha LaunchesThe competition to scale Ethereum is heating up. StarkWare, a company aiming to scale Ethereum using Zero-Knowledge Rollups, announced the launch of StarkNet Alpha Monday, allowing developers to start building and launching applications directly on the Layer 2. StarkWare’s current scaling solution, StarkEx, is application specific, forcing users to transfer funds to each application they wish to use. With StarkNet, developers can now deploy smart contracts that are interoperable both with other StarkNet contracts and Ethereum mainnet. This means users can interact with various applications built on StarkNet through a single wallet after sending over funds from Ethereum.
StarkWare is aiming to offer users significant gas savings while leveraging the security and decentralization of Ethereum. The firm has previously stated that StarkNet can reduce fees by a factor of 100 to 200 when deployed in off-chain Validium mode and offer significant savings through its regular ZK-Rollups.StarkNet is the first Validity Rollup to deploy, improving on the security of previous Optimistic and ZK-Rollups. StarkNet validates transactions using STARKs—scalable transparent arguments of knowledge, a type of ZK-Rollup based entirely on cryptographic proofs. While the alpha version currently only supports smart contract deployment and testing, StarkWare Developer Advocate Henri Lieutaud told listeners in today’s StarkNet Alpha launch community call that users will be able to transfer funds over “within the next few days.”Although the launch is a significant step, the StarkWare team has also stressed that there is still much more that needs to be done before StarkNet becomes a finished product. The blog post announcing the launch states:“The “Alpha” label is there for a reason. Expect changes, fixes, and improvements to come. StarkNet Alpha has yet to be audited, and we may delay such an audit till the network matures some more.”StarkNet Alpha is one of Ethereum’s most anticipated scaling solutions to date, but it has many others to compete with. zkSync and Loopring are two other prominent projects that use ZK-Rollup technology, while Optimistic Rollups like Arbitrum and Optimism have also begun to gain traction in recent weeks. Disclosure: At the time of writing, the author owned ETH and several other cryptocurrencies.
Share this article
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
See full terms and conditions.
ZK-Rollups and the Path to Scaling Ethereum
As the cost of using Ethereum increases, the need to scale the network has become more apparent than ever. Zero-Knowledge Rollup technology promises to lower gas fees without compromising on…
How Bumper’s Price Protection Helps DeFi Users Earn Yield on Their A…
Is it possible to build a DeFi protocol that counters crypto’s inherent volatility while also letting holders enjoy the upshot of their assets? Bumper Finance is a DeFi price-protection protocol that aims…
Ethereum ZK-Rollup Developer StarkWare Raises $50M at $2B Valuation
ZK-Rollup developer StarkWare has raised $50 million in a Series C funding round that values the firm at $2 billion. The company plans to launch StarkNet Alpha on Ethereum mainnet…
Loopring Jumps 19% Amid Ethereum ZK-Rollup Hype
Loopring is one of several ZK-Rollup solutions built to help Ethereum scale. Loopring Posts 19% Rally The crypto market appears to be gearing up for a “ZK season.” Loopring, one…