What is Starknet?

Introduction Starknet is a Validity Rollup Layer 2. It provides high throughput, low gas costs, and retains Ethereum Layer 1 levels of security Given a sudoku puzzle, verifying a solution is easier than solving from scratch. If our goal is to convince people of the statement “this puzzle has been solved”, we can save a lot of computation by having one person compute a solution and then propagate it for others to verify. In this strategy, each computation of a solution becomes a one-time event which does not require replication by society. In a similar vein, Starknet scales Ethereum by replacing heavy L1 computation with lighter (hence cheaper!) L1 verification using STARK proofs computed off-chain. How it works With the above analogy in mind, the time is ripe for some jargon. Starknet is a permissionless Validity-Rollup (also known as a “ZK-Rollup”) that supports general computation and currently operates in production as an L2 network over Ethereum. The eventual L1 security of Starknet is ensured by its use of the safest and most scalable cryptographic proof system – STARK. Starknet contracts are (for the most part) written in the Cairo language – A Turing complete programming language designed for STARK proofs.

The development path of StarkNet StarkWare, a software development company from Israel, was established in 2018. Professor Eli Ben-Sasson from the Israel Institute of Technology, known as the MIT of the Middle East, worked together to build a development and research team specializing in cryptography. It is committed to combining privacy to build Ethereum. High-efficiency operation solution. The developed zero-knowledge proof technology such as zk-STARK can compress information on the chain to solve the scalability problem of the blockchain. The founding team has very rich cryptography and development experience and has participated in many projects. Contains Zcash, Zerocash, etc. The StarkWare team’s financing journey is also very eye-catching. The Series A financing investors include Paradigm, Intel, Sequoia Capital, Coinbase and Ethereum founder Vitalik Buterin. In May 2022, the StarkWare team’s valuation has It has grown from US$2 billion in December 2021 to US$8 billion, making it the highest valued Layer 2 blockchain.

StarkNet Features StarkNet is a permissionless Layer 2 network where anyone can deploy their own smart contracts on the chain through specific programming code. Since the security of the Layer 2 extension scheme itself is inherited from the Ethereum main chain, there is no need to sacrifice security and it can also make the overall network transaction efficiency more efficient. The zk-STARK used by StarkNet is one of the zero-knowledge proof systems. The environment in which STARK generates transaction proofs is safe and trustworthy, and the workload for calculating the proofs is much smaller than that of Ethereum, so the scalability is also high. Cross-Rollup chain services such as StarkNet and zkSync will become increasingly important and will be able to significantly reduce the risks of on-chain liquidity providers. Even though StarkNet itself is not compatible with EVM (such as BNB Chain, Polygon and other networks), Ethereum applications will be able to deploy Ethereum applications to the StarkNet network faster through Kakarot

StarkNet’s key technologies 1: StarkNet is different from Optimistic Rollup headed by Optimism and Arbitrum. The difference between the two expansion solutions is that zk-Rollup can complete the packaging transaction without knowing who the verifier is, and it does not require a seven-day delay when transferring assets across chains. Waiting period. The StarkNet of the zk-Rollup series takes into account both privacy and scalability, especially the privacy and data security aspects of protecting users’ transaction data. This is what most Layer 2 expansion solutions lack today, and it is also what V God, the founder of Ethereum, thinks of the future of Ethereum. One of the major directions that needs development. The StarkNet of the zk-Rollup series takes into account both privacy and scalability, especially the privacy and data security aspects of protecting users’ transaction data. This is what most Layer 2 expansion solutions lack today, and it is also what V God, the founder of Ethereum, thinks of the future of Ethereum. One of the major directions that needs development is that Vitalik has often mentioned the importance of privacy in the blockchain industry before. For example, by introducing concepts such as stealth addresses, it can effectively reduce the probability of intentional people committing crimes through public information.

StarkNet’s key technologies 2: StarkNet has an account abstraction function, which allows users to simply use the wallet through their biometrics, instead of the complicated annotations and private keys in the past. It is currently used by institutions such as Visa, and it has a simple usage environment and security. In the future, the use of wallets will have the opportunity to completely abandon the concept of "note words" and allow more people to enter the world of blockchain in a simpler way.

Key partners:

Future prospects

Of the four former layer 2 kings: Optimism, Arbitrum, zkSync, and StarkNet, only the latter two have not announced airdrops. Optimism and Arbitrum have successively implemented the strategy of ecological accumulation + airdrop to grab users, and the results have been reflected in the market share of the Layer2 ecosystem. Due to the wealth effect, a large number of users have flocked to interact with other Layer 2 projects that have not issued coins, especially zkSync and StarkNet, the remaining four major Layer 2 king projects. Optimism and Arbitrum have gained a good market share in the Layer 2 ecosystem through ecological accumulation and airdrops to grab users. Moreover, as the Layer2 ecosystem becomes more mature, and EIP-4844 will significantly reduce Layer2 fees, Layer2 has a great advantage compared with other public chains. The bull market in the crypto industry in 2021 will be the explosion of new public chains, and the Summer of Layer 2 is also what all users are looking forward to. Under the premise of the success of Optimism and Arbitrum, the two remaining king projects of Layer 2, zkSync and StarkNet, need to show more sincerity if they want to seize the market. The competition between projects and the wealth effect brought about by users' fomo have made Layer2 Summer ready to come out.

Starknet's ecology is much richer than zkSync, and the service fees charged by Starkware can fully make it profitable. StarkNet proposed Validium, a solution to transfer data availability to off-chain storage. Only hash values of verified states are stored on the chain. Data availability is stored by the Data Availability Committee (DAC), which consists of a quorum of independent members that oversees correct status updates and retains copies of processed data. When a user wants to withdraw Layer2 funds in the new state, a DAC signature is required to provide specific ledger information. Validium can significantly reduce rollup costs, but at the same time it sacrifices decentralization and is suitable for data availability for non-important transactions.

What is Starknet?

Introduction Starknet is a Validity Rollup Layer 2. It provides high throughput, low gas costs, and retains Ethereum Layer 1 levels of security Given a sudoku puzzle, verifying a solution is easier than solving from scratch. If our goal is to convince people of the statement “this puzzle has been solved”, we can save a lot of computation by having one person compute a solution and then propagate it for others to verify. In this strategy, each computation of a solution becomes a one-time event which does not require replication by society. In a similar vein, Starknet scales Ethereum by replacing heavy L1 computation with lighter (hence cheaper!) L1 verification using STARK proofs computed off-chain. How it works With the above analogy in mind, the time is ripe for some jargon. Starknet is a permissionless Validity-Rollup (also known as a “ZK-Rollup”) that supports general computation and currently operates in production as an L2 network over Ethereum. The eventual L1 security of Starknet is ensured by its use of the safest and most scalable cryptographic proof system – STARK. Starknet contracts are (for the most part) written in the Cairo language – A Turing complete programming language designed for STARK proofs.

The development path of StarkNet StarkWare, a software development company from Israel, was established in 2018. Professor Eli Ben-Sasson from the Israel Institute of Technology, known as the MIT of the Middle East, worked together to build a development and research team specializing in cryptography. It is committed to combining privacy to build Ethereum. High-efficiency operation solution. The developed zero-knowledge proof technology such as zk-STARK can compress information on the chain to solve the scalability problem of the blockchain. The founding team has very rich cryptography and development experience and has participated in many projects. Contains Zcash, Zerocash, etc. The StarkWare team’s financing journey is also very eye-catching. The Series A financing investors include Paradigm, Intel, Sequoia Capital, Coinbase and Ethereum founder Vitalik Buterin. In May 2022, the StarkWare team’s valuation has It has grown from US$2 billion in December 2021 to US$8 billion, making it the highest valued Layer 2 blockchain.

StarkNet Features StarkNet is a permissionless Layer 2 network where anyone can deploy their own smart contracts on the chain through specific programming code. Since the security of the Layer 2 extension scheme itself is inherited from the Ethereum main chain, there is no need to sacrifice security and it can also make the overall network transaction efficiency more efficient. The zk-STARK used by StarkNet is one of the zero-knowledge proof systems. The environment in which STARK generates transaction proofs is safe and trustworthy, and the workload for calculating the proofs is much smaller than that of Ethereum, so the scalability is also high. Cross-Rollup chain services such as StarkNet and zkSync will become increasingly important and will be able to significantly reduce the risks of on-chain liquidity providers. Even though StarkNet itself is not compatible with EVM (such as BNB Chain, Polygon and other networks), Ethereum applications will be able to deploy Ethereum applications to the StarkNet network faster through Kakarot

StarkNet’s key technologies 1: StarkNet is different from Optimistic Rollup headed by Optimism and Arbitrum. The difference between the two expansion solutions is that zk-Rollup can complete the packaging transaction without knowing who the verifier is, and it does not require a seven-day delay when transferring assets across chains. Waiting period. The StarkNet of the zk-Rollup series takes into account both privacy and scalability, especially the privacy and data security aspects of protecting users’ transaction data. This is what most Layer 2 expansion solutions lack today, and it is also what V God, the founder of Ethereum, thinks of the future of Ethereum. One of the major directions that needs development. The StarkNet of the zk-Rollup series takes into account both privacy and scalability, especially the privacy and data security aspects of protecting users’ transaction data. This is what most Layer 2 expansion solutions lack today, and it is also what V God, the founder of Ethereum, thinks of the future of Ethereum. One of the major directions that needs development is that Vitalik has often mentioned the importance of privacy in the blockchain industry before. For example, by introducing concepts such as stealth addresses, it can effectively reduce the probability of intentional people committing crimes through public information.

StarkNet’s key technologies 2: StarkNet has an account abstraction function, which allows users to simply use the wallet through their biometrics, instead of the complicated annotations and private keys in the past. It is currently used by institutions such as Visa, and it has a simple usage environment and security. In the future, the use of wallets will have the opportunity to completely abandon the concept of "note words" and allow more people to enter the world of blockchain in a simpler way.

Key partners:

Future prospects

Of the four former layer 2 kings: Optimism, Arbitrum, zkSync, and StarkNet, only the latter two have not announced airdrops. Optimism and Arbitrum have successively implemented the strategy of ecological accumulation + airdrop to grab users, and the results have been reflected in the market share of the Layer2 ecosystem. Due to the wealth effect, a large number of users have flocked to interact with other Layer 2 projects that have not issued coins, especially zkSync and StarkNet, the remaining four major Layer 2 king projects. Optimism and Arbitrum have gained a good market share in the Layer 2 ecosystem through ecological accumulation and airdrops to grab users. Moreover, as the Layer2 ecosystem becomes more mature, and EIP-4844 will significantly reduce Layer2 fees, Layer2 has a great advantage compared with other public chains. The bull market in the crypto industry in 2021 will be the explosion of new public chains, and the Summer of Layer 2 is also what all users are looking forward to. Under the premise of the success of Optimism and Arbitrum, the two remaining king projects of Layer 2, zkSync and StarkNet, need to show more sincerity if they want to seize the market. The competition between projects and the wealth effect brought about by users' fomo have made Layer2 Summer ready to come out.

Starknet's ecology is much richer than zkSync, and the service fees charged by Starkware can fully make it profitable. StarkNet proposed Validium, a solution to transfer data availability to off-chain storage. Only hash values of verified states are stored on the chain. Data availability is stored by the Data Availability Committee (DAC), which consists of a quorum of independent members that oversees correct status updates and retains copies of processed data. When a user wants to withdraw Layer2 funds in the new state, a DAC signature is required to provide specific ledger information. Validium can significantly reduce rollup costs, but at the same time it sacrifices decentralization and is suitable for data availability for non-important transactions.