Ethereum’s scaling remedy, Starknet, has initiated the testnet phase for its layer-2 network.
This initiative is led by StarkWare, a development company based in Israel. The deployment marks the preliminary phase in the transition towards launching the advanced version called Starknet Quantum Leap on the mainnet. This anticipated transition is set for around July 13. However, it is contingent on the approval through a community vote, as highlighted in a recent blog by StarkWare.
The primary emphasis of this network enhancement is on its performance. The key feature is a substantial boost in throughput, now cited as being unmatched within the Ethereum domain.
StarkWare’s post delineates this progress in clear terms. There’s a remarkable increase in throughput – from the prior average of 30,000 Cairo steps per second (CSPS) to a whopping 220,000 CSPS in the Quantum Leap version. This change signifies an enhancement that’s nearly tenfold.
“This significant milestone is attributed to specific optimizations that bolster the Starknet Sequencer’s efficiency,” the blog post explained. Tools like Cairo-rs, Blockifier, and Papyrus were highlighted as crucial technological components driving this enhancement.
Increased throughput ensures the swift processing of transactions on the network. However, this often raises concerns about potentially compromising the network’s decentralization.
Despite these concerns, elevated throughput is commonly deemed essential, especially for decentralized finance (DeFi) platforms. It facilitates the creation of agile applications, delivering user experiences that closely resemble those of conventional centralized platforms.
Eliminates pending transactions
Besides markedly increasing the transaction speed, the latest network upgrade has replaced the “PENDING” transaction status with “ACCEPTED_ON_L2”. StarkWare elaborates that this change better conveys the “finality status of transactions.”
Moving forward, StarkWare has highlighted its dedication to refining both the user experience and the dependability of transactions. The firm indicated that the ensuing version will bring further enhancements. One notable update will be the incorporation of failed transactions within blocks, enabling the levying of fees even for unsuccessful transactions.
Subsequently, a principal objective for the company is to “significantly cut down transaction costs,” shedding light on their forward-looking plans.
To provide some context, Starknet employs a “ZK-Rollup” approach. This mechanism acts as an overlay on the Ethereum network, streamlining transactions to be both speedier and more cost-effective, with a particular emphasis on meeting the needs of DeFi users.
