Starknet is a Layer 2 scaling solution built using ZK-Rollups technology, ensuring scalability while maintaining Ethereum’s security. It allows developers to deploy decentralized applications (dApps) without operational limitations. Starknet smart contracts are written in Cairo, a custom programming language optimized for scaling, although it is not compatible with Ethereum’s Virtual Machine (EVM), posing a learning curve for developers.

Starknet was developed by StarkWare Industries, an Israel-based company also behind products like StarkEx and StarkGate. On February 14, 2024, Starknet announced an airdrop of 700 million STRK tokens (7% of the total supply) to over 1.2 million eligible wallets.

• Cairo Language:
  Cairo is used for building and scaling smart contracts and dApps on Starknet. Every application on Starknet must be written in Cairo, which encourages innovation but limits compatibility with EVM-based projects.

• zk-STARK Technology:
  Starknet leverages Zero-Knowledge Scalable Transparent Argument of Knowledge (zk-STARK) technology to generate proofs off-chain and verify them on-chain. This enhances scalability, privacy, and reduces transaction fees.

• Sequencer and Prover:
  The Sequencer handles transaction execution and block proposals, enabling more transactions per second than Ethereum. The Prover validates the blocks by generating proofs and submitting them to Ethereum for verification.

• Scalability:
  Starknet improves transaction throughput while preserving Ethereum’s security by validating off-chain proofs on-chain.

• Developer Support:
  Developers can build and deploy their projects using Starknet contracts, making it easier to create new applications and business models.

• Interoperability:
  Starknet facilitates cross-project collaboration within the Ethereum ecosystem by enabling efficient data exchange and interaction between different applications.

• Total Value Locked (TVL):
  Starknet has a TVL of $54 million, relatively small compared to other Layer 2 solutions like Arbitrum, Optimism, and zkSync. Notable dApps on Starknet include Nostra, Ekubo, zkLend, JediSwap, and mySwap.

• Bridge Usage:
  More than 1.2 million users have bridged assets to Starknet, with a total of 865,000 ETH transferred.

• Active Users:
  User activity peaked in March-April and August-October 2023. However, following the announcement of the airdrop snapshot in December 2023, daily active users declined.

The STRK airdrop targets several user categories, including:

• Early Starknet users: At least five transactions across three different months and $100+ in transaction volume before November 15, 2023.

• Community members from Starknet’s Early Community Program (ECMP).

• Developers contributing to Starknet or Ethereum before November 15, 2023.

• StarkEx users: At least eight transactions before June 1, 2022.

• EIP proposers and ETH stakers active before the Merge on September 15, 2022.

• GitHub contributors with at least three contributions to the top 5,000 repositories.

While Starknet’s ecosystem includes bridges, DeFi, GameFi, and NFT platforms, most of these projects are still in their early stages and need time to mature. With its airdrop and developer incentives, Starknet aims to accelerate growth and solidify its position among Layer 2 solutions.

Starknet is a Layer 2 scaling solution built using ZK-Rollups technology, ensuring scalability while maintaining Ethereum’s security. It allows developers to deploy decentralized applications (dApps) without operational limitations. Starknet smart contracts are written in Cairo, a custom programming language optimized for scaling, although it is not compatible with Ethereum’s Virtual Machine (EVM), posing a learning curve for developers.

Starknet was developed by StarkWare Industries, an Israel-based company also behind products like StarkEx and StarkGate. On February 14, 2024, Starknet announced an airdrop of 700 million STRK tokens (7% of the total supply) to over 1.2 million eligible wallets.

• Cairo Language:
  Cairo is used for building and scaling smart contracts and dApps on Starknet. Every application on Starknet must be written in Cairo, which encourages innovation but limits compatibility with EVM-based projects.

• zk-STARK Technology:
  Starknet leverages Zero-Knowledge Scalable Transparent Argument of Knowledge (zk-STARK) technology to generate proofs off-chain and verify them on-chain. This enhances scalability, privacy, and reduces transaction fees.

• Sequencer and Prover:
  The Sequencer handles transaction execution and block proposals, enabling more transactions per second than Ethereum. The Prover validates the blocks by generating proofs and submitting them to Ethereum for verification.

• Scalability:
  Starknet improves transaction throughput while preserving Ethereum’s security by validating off-chain proofs on-chain.

• Developer Support:
  Developers can build and deploy their projects using Starknet contracts, making it easier to create new applications and business models.

• Interoperability:
  Starknet facilitates cross-project collaboration within the Ethereum ecosystem by enabling efficient data exchange and interaction between different applications.

• Total Value Locked (TVL):
  Starknet has a TVL of $54 million, relatively small compared to other Layer 2 solutions like Arbitrum, Optimism, and zkSync. Notable dApps on Starknet include Nostra, Ekubo, zkLend, JediSwap, and mySwap.

• Bridge Usage:
  More than 1.2 million users have bridged assets to Starknet, with a total of 865,000 ETH transferred.

• Active Users:
  User activity peaked in March-April and August-October 2023. However, following the announcement of the airdrop snapshot in December 2023, daily active users declined.

The STRK airdrop targets several user categories, including:

• Early Starknet users: At least five transactions across three different months and $100+ in transaction volume before November 15, 2023.

• Community members from Starknet’s Early Community Program (ECMP).

• Developers contributing to Starknet or Ethereum before November 15, 2023.

• StarkEx users: At least eight transactions before June 1, 2022.

• EIP proposers and ETH stakers active before the Merge on September 15, 2022.

• GitHub contributors with at least three contributions to the top 5,000 repositories.

While Starknet’s ecosystem includes bridges, DeFi, GameFi, and NFT platforms, most of these projects are still in their early stages and need time to mature. With its airdrop and developer incentives, Starknet aims to accelerate growth and solidify its position among Layer 2 solutions.