Tuesday, 30 May 2023

Crypto News

Ethereum layer 2 Starknet outlines performance upgrades

Ethereum layer 2 Starknet outlines performance upgrades

Layer-2 blockchain protocols have been in the spotlight in 2023, bringing major performance improvements to a variety of platforms and services operating in the Ethereum (ETH) ecosystem. 

Zero-knowledge proofs have been key in the roll-out of a variety of layer 2s, with the technology pioneered by the decentralized scaling network Starknet. StarkWare, the technology firm behind the scaling platform, has outlined plans to further improve its layer-2 network to meet an expected increase in users and developers through the rest of the year.

Cointelegraph caught up with Eli Ben-Sasson, president and co-founder of StarkWare, to unpack key points set out in a 2023 roadmap for Starknet. Chief among a list of to-dos is performance improvements that are centered around higher throughput and reduced latency of Starknet’s network.

Ben-Sasson highlighted the focus on performance upgrades that are expected to deliver significantly higher transactions per second (TPS) than on Ethereum’s mainnet at lower gas costs:

“The most important thing is for builders and developers to have high throughput so that they can really build. Starknet is about increasing the computational abilities of Ethereum and we just want to provide this raw power to the hands of developers.”

Starknet v0.12.0 is expected to be released in the next month and is the culmination of a six-month sprint that involves transitioning Starknet’s development stack to a Rust-based Sequencer as well as an open-source project that has built a Rust-Cairo VM (virtual-machine).

StarkWare open-sourced its programming language compiler Cairo early in 2023, with the language aimed at driving the development of zk-rollup and validity proof-powered decentralized applications (DApps).

Related: Privacy, scaling drives use cases for zero-knowledge technology

Ben-Sasson added that Starknet continues to chase an ambitious target of processing at least 10 times the throughput of Ethereum at a tenth of the cost. He highlighted StarkEx’s ability to deliver significant TPS on decentralized exchange dYdX. StarkEx is another layer-2 scaling engine developed by StarkWare.

At times, dYdX processes up to 54 transactions per second, while the average TPS of Ethereum is around 10 to 12. Ben-Sasson also noted that these dYdX transactions are roughly four to five times larger than those on Ethereum, which bodes well for the improved scaling capabilities of Starknet in the near future:

“We’re often experiencing practical TPS or…

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