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Funds Unlocked: StarkWare Addresses Upgrade-Related Lockouts – Here’s What Happened

StarkWare, the company responsible for the Ethereum scaling solution Starknet, has unlocked funds that were temporarily inaccessible due to a system update last week.

On social media platform X, StarkWare revealed that crypto assets totaling $550,000, held in non-upgraded accounts, became unreachable after the system’s enhancement.

Previously this year, Starknet users were prompted to execute a crucial account update.

The StarkWare team announced in their post, “The upgrade functionality has been restored, letting users instantly access their accounts again.”

Many users were caught off guard when non-upgraded accounts became unattainable, and some took to platform X to voice their grievances regarding the situation.

One user likened the lock-up to “seeing the funds in your bank vanish just because you didn’t update to the newest software.”

Another user sarcastically remarked, “Thank You For Flying With StarkWare Airlines.”

The incident became a subject of humor for some, as a user jested, “Is that the ‘zero’ in zero knowledge?”

Testnet launched in July

In July, Starknet unveiled a testnet for their significant new update termed “Starknet Quantum Leap.”

This testnet initiation was seen as a precursor to integrating the enhanced solution onto the mainnet.

From the outset, this upgrade was heralded as essential for amplifying the transaction capacity on the platform. The Starknet team boasted the boosted throughput as being “unmatched” within the Ethereum realm.

A contemporaneous blog post reported a substantial uptick in throughput, jumping from an average of 30,000 Cairo steps per second (CSPS) in its earlier version to an impressive 220,000 CSPS with Quantum Leap, which translates to nearly a tenfold enhancement.

The final update essential for the full roll-out of Starknet Quantum Leap was introduced to the mainnet on August 21. The Starknet team advocated for this upgrade, emphasizing its potential as a tool that infrastructure developers can harness “to craft outstanding frontends!”

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