StarkNet is a permissionless decentralized Validity-Rollup also called "ZK-Rollup". As Layer 2 on Ethereum, it enables any Dapp to achieve unlimited computational scaling without sacrificing the composability and security of Ethereum.

StarekNet's parent company, StarkWare, was established in 2018 and is headquartered in Israel. The main products it develops are Starknet and StarkEx. Its company valuation has reached $8 billion. So far, StarkNet has gone through five rounds of financing, raising a total of US$273 million.

It is worth mentioning that the Ethereum Foundation has specifically publicly supported starkware that exploits starks, and they provided $12 million in funding to starkware. This is one of the reasons why the industry is generally optimistic about the future development and legitimacy of StarkNet.

In the token economic model, in addition to 49.9% of tokens owned by investors and core contributors, the remaining 50.1% of tokens are owned by the StarkNet Foundation. However, 8.1% of the tokens remain unallocated.

The community will decide the corresponding use of this part, so many people believe that this part may be allocated to ecological experiencers, and the Starknet Foundation has also appointed Diego Oliva (former Facebook executive) as its first CEO. Oliva has also stated that he will focus on the governance of the Starknet decentralized community and emphasize the rights of developers and users.

It can be seen that the openness of ecological construction is attached great importance to the Starknet project. It can be seen that Starknet still needs more construction. From this, we can know that developing projects on the Starknet ecosystem is also a good choice, and it can also be regarded as a way to participate in the community. Opportunity to vote!

Project roadmap

1/ The official recently announced the overall roadmap for 2023, and version 0.12.0 was officially deployed on the mainnet on July 12. Starknet’s latest version, 0.12.0, introduces significant performance improvements, including improvements in throughput and latency. By adopting Rust-based Sequencer and Rust-Cairo VM, StarkNet's performance will be significantly improved, and the OKEX exchange has begun supporting deposits of the ETH starknet mainnet.

2/ In version V 0.13.0, Starknet’s transaction costs will be significantly reduced. This is achieved through volition which reduces the main component of transaction costs. L1 (Ethereum) data costs account for 95% of transaction costs today, and Volition will allow developers to build Starknet applications using a hybrid data availability (DA) model. Additionally, Ethereum’s EIP-4844 (Sharded Blob Transactions) is expected to be released in Q4 2023. Thanks to Ethereum’s EIP-4844 and Starknet’s Volition (off-chain data availability), Starknet’s data costs will be significantly reduced.

3/ Network congestion is a headache for every developer and user. To solve this problem, Starknet will introduce a fee market in V 0.14.0 to efficiently allocate Starknet's limited resources based on how much gas users pay for transactions.

4/ In the V0.15.0 version, some improvements are planned to improve the performance and user experience of Starknet by decoupling the relationship between blocks and proofs, reducing block intervals and improving the throughput of the network. This will make Starknet a more powerful and efficient blockchain platform.

Similar to other zk-rollup solutions based on validity proof, StarkNet and StarkEx also adopt the form of "off-chain calculation-generating zk proof-on-chain verification" to achieve the expansion of Ethereum. However, it achieves high transaction processing speed, low cost and other characteristics through the original zk-STARK zero-knowledge proof algorithm, zk-friendly programming language Cairo, SHARP shared validator, and diversified data availability.

StarkWare's products include StarkEx, a ZKR enterprise service customized for project parties, and StarkNet, which is more general. StarkNet consists of five parts, namely: prover, sequencer and full node on Starknet; and verifier and Starknet core deployed on Ethereum.

Its working principle is to initiate a transaction on StarkNet, which is accepted, sorted, verified, and packaged into blocks by the off-chain server sequencer, the transaction is executed, and then the status is forwarded to the starknet core status contract. Immediately, the prover generates a proof of the transaction and sends it to the validator of Ethereum for verification. The validator sends the verification results to Ethereum's starknet core core state contract and triggers a new set of Ethereum transactions from the Starknet core contract to update the global state on the chain for record keeping. Full nodes perform storage functions, including state changes, metadata, proofs, and record all transactions executed in Starknet, and track the current global state of the system.

The Starknet ecosystem has many projects and currently includes more than 100 dapps and services. There are two types of wallets: Braavos and Argent, but the mnemonic phrases between the two are not interoperable. More than 60 Defi protocols have been deployed, including DEXs such as 10kswap, Jediswap, Myswap, and lending protocols such as Zklend. As of now, data from Defilama shows that StarkNet’s total TVL is only 17.36M, although the overall TVL is on the rise. , but compared to the 189.21M of the same type of zkSync Era, there is still a gap of nearly ten times. This shows that the StarkNet ecosystem is still in its early stages.

StarkNet is a permissionless decentralized Validity-Rollup also called "ZK-Rollup". As Layer 2 on Ethereum, it enables any Dapp to achieve unlimited computational scaling without sacrificing the composability and security of Ethereum.

StarekNet's parent company, StarkWare, was established in 2018 and is headquartered in Israel. The main products it develops are Starknet and StarkEx. Its company valuation has reached $8 billion. So far, StarkNet has gone through five rounds of financing, raising a total of US$273 million.

It is worth mentioning that the Ethereum Foundation has specifically publicly supported starkware that exploits starks, and they provided $12 million in funding to starkware. This is one of the reasons why the industry is generally optimistic about the future development and legitimacy of StarkNet.

In the token economic model, in addition to 49.9% of tokens owned by investors and core contributors, the remaining 50.1% of tokens are owned by the StarkNet Foundation. However, 8.1% of the tokens remain unallocated.

The community will decide the corresponding use of this part, so many people believe that this part may be allocated to ecological experiencers, and the Starknet Foundation has also appointed Diego Oliva (former Facebook executive) as its first CEO. Oliva has also stated that he will focus on the governance of the Starknet decentralized community and emphasize the rights of developers and users.

It can be seen that the openness of ecological construction is attached great importance to the Starknet project. It can be seen that Starknet still needs more construction. From this, we can know that developing projects on the Starknet ecosystem is also a good choice, and it can also be regarded as a way to participate in the community. Opportunity to vote!

Project roadmap

1/ The official recently announced the overall roadmap for 2023, and version 0.12.0 was officially deployed on the mainnet on July 12. Starknet’s latest version, 0.12.0, introduces significant performance improvements, including improvements in throughput and latency. By adopting Rust-based Sequencer and Rust-Cairo VM, StarkNet's performance will be significantly improved, and the OKEX exchange has begun supporting deposits of the ETH starknet mainnet.

2/ In version V 0.13.0, Starknet’s transaction costs will be significantly reduced. This is achieved through volition which reduces the main component of transaction costs. L1 (Ethereum) data costs account for 95% of transaction costs today, and Volition will allow developers to build Starknet applications using a hybrid data availability (DA) model. Additionally, Ethereum’s EIP-4844 (Sharded Blob Transactions) is expected to be released in Q4 2023. Thanks to Ethereum’s EIP-4844 and Starknet’s Volition (off-chain data availability), Starknet’s data costs will be significantly reduced.

3/ Network congestion is a headache for every developer and user. To solve this problem, Starknet will introduce a fee market in V 0.14.0 to efficiently allocate Starknet's limited resources based on how much gas users pay for transactions.

4/ In the V0.15.0 version, some improvements are planned to improve the performance and user experience of Starknet by decoupling the relationship between blocks and proofs, reducing block intervals and improving the throughput of the network. This will make Starknet a more powerful and efficient blockchain platform.

Similar to other zk-rollup solutions based on validity proof, StarkNet and StarkEx also adopt the form of "off-chain calculation-generating zk proof-on-chain verification" to achieve the expansion of Ethereum. However, it achieves high transaction processing speed, low cost and other characteristics through the original zk-STARK zero-knowledge proof algorithm, zk-friendly programming language Cairo, SHARP shared validator, and diversified data availability.

StarkWare's products include StarkEx, a ZKR enterprise service customized for project parties, and StarkNet, which is more general. StarkNet consists of five parts, namely: prover, sequencer and full node on Starknet; and verifier and Starknet core deployed on Ethereum.

Its working principle is to initiate a transaction on StarkNet, which is accepted, sorted, verified, and packaged into blocks by the off-chain server sequencer, the transaction is executed, and then the status is forwarded to the starknet core status contract. Immediately, the prover generates a proof of the transaction and sends it to the validator of Ethereum for verification. The validator sends the verification results to Ethereum's starknet core core state contract and triggers a new set of Ethereum transactions from the Starknet core contract to update the global state on the chain for record keeping. Full nodes perform storage functions, including state changes, metadata, proofs, and record all transactions executed in Starknet, and track the current global state of the system.

The Starknet ecosystem has many projects and currently includes more than 100 dapps and services. There are two types of wallets: Braavos and Argent, but the mnemonic phrases between the two are not interoperable. More than 60 Defi protocols have been deployed, including DEXs such as 10kswap, Jediswap, Myswap, and lending protocols such as Zklend. As of now, data from Defilama shows that StarkNet’s total TVL is only 17.36M, although the overall TVL is on the rise. , but compared to the 189.21M of the same type of zkSync Era, there is still a gap of nearly ten times. This shows that the StarkNet ecosystem is still in its early stages.