Anoter major ZK-rollup player that is in the spotlights: StarkNet, and its mainnet is launching soon. They do very well, as there are hundreds of DApps, services, and wallets building on the StarkNet ecosystem.
StarkNet is an extra network that works on top of Ethereum. It allows decentralized apps to have more computational power without compromising Ethereum's security. StarkNet uses a secure... More
Fundraising
StarkNet has successfully secured investments from numerous market users through various funding rounds. The company has raised a total of $261 million in equity since its inception. Additionally, the Ethereum Foundation granted StarkNet $12 million to expand the Ethereum network. StarkNet's funding rounds were as follows:
This project earns a 5-star rating for Proof of Execution.
The reason I decided to write about this project was that I noticed, while trading on ApeX (a simple and clean decentralized trading platform introduced by Jeppopo ), that it was "Powered by STARKWare."
With various L2s of different flavors emerging (or already released in this case),... More
Do we really need ANOTHER L2 solution in the market especially as there already is another big fish in the ZK Roll up pond with zkSync?
Well Starknet fans would argue yes due its method of proofing protocols & its unique advantages with its STARKs (Scalable Transparent Arguments of Knowledge), as opposed to zkSync's use of SNARKs (Succinct Non-Interactive Argument of Knowledge).
ZK-SNARKs... More
Where to start, oh boy.
Firstly, they got live and online events, hackathons and so much more! Engaging talks, interactive workshops, and insightful conversations worldwide. Amazing to see the engagement in this matter (img1).
Online communities
I believe that there are good micro reviews here already however, there are some notable aspects of this project that have not been mentioned by other analysts.
Firstly, the L2 solution was developed during the 2018 bear market, and despite the current bull market in 2021, they have yet to release their token. This is quite impressive and indicative of a long-term vision.
Additionally, the... More
In May 2022 Starknet successfully raised $100 million in their series D funding which valued the project at approximately $8 billion. While the exact current valuation is uncertain, it is likely to be around this figure. Therefore it is unlikely that the release of their token to the market will result in life changing gains for immediate buyers in the short to medium term.
However, Starknet is... More
I've only looked into Starknet briefly, but everything just sits right for me with this project.
Their website is a community effort, which is great. Community run websites are among the best I've seen (Kaspa is another example), and Starknets website is fantastic. Everything looks very professional and is at the right place.
Most importantly, they have several explorers with historical... More
Their marketing activity is insane!
Influencers on YouTube, articles on crypto news sites, high activity in engagement and impressive on-chain numbers that back up how well they do!
People talk about Starknet, a lot. They also got Coingecko talking about the famous airdrop rumors, and by just Googling "Starknet" or looking this search term on YouTube will give you an incredible number of hits.... More
Reasons for me to buy
Remember that this is my own observation. Always DYOR :).
StarkNet is a technology that enhances Ethereum by providing unlimited computational capacity for DApps through off-chain computations. They improve: scalability, speed, and efficiency while maintaining compatibility with the Ethereum network.
Their technique functions as a secondary network built on top of Ethereum. It aims to provide unlimited computational capacity to dApps while maintaining... More
If you though the numbers of Venom were impressive recently, check the numbers below, as of last year. The overall statistics are insane (image 1). I will sum it up down here. Starknet is not just some project, it will be a giant.
Usage
I love the design of the tokenomics of the StarkNet Token. Its design considers the needs of users, operators, and developers. The fee structure and token minting should be automated, tested, transparent, resistant to manipulation, and user-friendly. Tokens will be allocated to smart contract developers based on the value they provide, measured by fees paid. Core developers and contributors will... More
StarkNet is developed by StarkWare Industries, an Israeli software company specializing in cryptography. The company employs over 70 people and boasts a large team of blockchain engineers.
They also collaborate with some of the top advisors in the blockchain industry, including Joseph Lubin, the CEO and founder of ConsenSys, the company behind MetaMask.
In May 2022, StarkWare successfully... More
Good or bad technology? Let’s check it out.
Starknet is a decentralized layer 2 network that enables Ethereum to scale securely and dapps to achieve unlimited scale for transactions and computation. It is built on StarkWare's STARK technology, which is a type of zero-knowledge proof that allows for secure and efficient computation on the blockchain.
Starknet uses a Validity Rollup ... More
I came across StarkNet today and i must say it is a very interesting L2 scalable solution for the Ethereum network.
StarkNet, developed by StarkWare, is a promising L2 scalability solution for Ethereum, leveraging zk-STARKs, a type of zero knowledge proof, to scale up transaction throughput significantly while maintaining robust security.
StarkNet is built as a decentralized, permissionless... More
It might not sounds like a sexy idea anymore, but what they do, they do good. Reducing gas fees is one of the common mentioned things on ETH. StarkNet is such an innovative solution, aimed at reducing transaction fees on the Ethereum network by up to 100 times. It utilizes layer-2 technology, similar to Polygon and Arbitrum, to achieve high transaction speed and low fees while leveraging the... More
Here is a summary of pros and cons for StarkNet
Pros:
Utilizes ZK-STARK technology for valid and private off-chain computations
High transaction throughput and low fees via validity rollup architecture
Strong security as transactions are verified by incentivized validators
Supports wide range of dApps building on the ecosystem
Leverages Ethereum's security while achieving... More
Starknet is a decentralized network designed to enhance scalability and security in blockchain applications. It empowers developers to create decentralized applications capable of processing a high volume of transactions while ensuring security and decentralization. Similar to other Layer 2 solutions, Starknet aims to scale and foster the development of the ecosystem.
Starknet raised $273M from... More
Starknet was designed to allow developers to harness the power of STARKs and Cairo in order to build their app. Up till now, Starknet’s development focused on providing developers with future-proof functionality.
They have made great progress, which resulted in impressive usage, performance, and offerings. Some impressive numbers: 2M+ transactions processed on mainnet (14M+ on Goerli), over 650k... More
Starknet STRKStarknet is a Validity Rollup Layer 2. It provides high throughput, low gas costs, and retains Ethereum Layer 1 levels of security
