Starknet’s 2023 Ethereum Second Tier Solution: Goals and Roadmap

On April 25th, according to official sources, StarkWare released an article clarifying the goals and roadmap for Starknet’s 2023 Ethereum second tier solution. According to the roadmap, Starknet’s main development focus in 2023 will be on improving network performance and UX, including improving network efficiency, reducing transaction costs, and achieving a fee market. In addition, Starknet stated that it plans to focus on achieving decentralization at the operational and decision-making levels by 2024.

Starknet releases a roadmap with a focus on achieving decentralization in 2024

StarkWare, a leading provider of zero-knowledge proof technology for blockchain applications, has recently released an article clarifying the goals and roadmap for its Starknet’s 2023 Ethereum second tier solution. In this article, we’ll take a closer look at what this roadmap entails and what it means for the future of blockchain technology.

What is Starknet?

Before diving into the specifics of the roadmap, it’s important to understand what Starknet is and how it fits into the Ethereum ecosystem. Simply put, Starknet is a second tier solution that utilizes zero-knowledge proofs to enable scaling of decentralized applications (dApps) on Ethereum. By offloading computations to a second layer, Starknet aims to significantly reduce transaction costs and improve network performance, while still maintaining the security and trustlessness of the Ethereum blockchain.

The Goals for 2023

According to the Starknet roadmap, the main development focus for 2023 will be on improving network performance and user experience (UX). This includes the following goals:

1. Improving Network Efficiency

Starknet plans to improve network efficiency by optimizing the use of zero-knowledge proofs and other performance-enhancing techniques. This will enable more transactions to be processed per second, reducing the overall transaction time and improving the network’s responsiveness.

2. Reducing Transaction Costs

One of the biggest barriers to entry for many dApps is the high cost of transactions on the Ethereum network. Starknet plans to address this issue by reducing transaction costs and making it more affordable for developers to build and deploy their applications.

3. Achieving a Fee Market

Starknet plans to introduce a fee market (similar to Ethereum’s gas fees) to ensure that the network remains sustainable and economically viable. This will enable users to bid for transaction priority, providing a mechanism to incentivize miners and validators to include their transactions in the block.

Decentralization by 2024

In addition to the above goals, Starknet also plans to focus on achieving decentralization at the operational and decision-making levels by 2024. This includes:

1. Operational Decentralization

Starknet aims to achieve operational decentralization by distributing nodes across multiple data centers and cloud providers. This will enhance the network’s resilience to attacks and improve its overall security.

2. Decision-making Decentralization

Starknet also plans to decentralize decision-making by introducing a governance mechanism that will allow stakeholders to vote on changes and upgrades to the protocol. This will ensure that the network evolves in a decentralized and democratic manner.

Conclusion

Starknet’s 2023 Ethereum second tier solution is an ambitious roadmap that aims to significantly improve the scalability, efficiency, and user experience of decentralized applications on the Ethereum blockchain. With a renewed focus on performance optimization, cost reduction, and decentralization, it is clear that StarkWare is committed to pushing the boundaries of what is possible in the blockchain space.

FAQs

Q: What is a second tier solution?
A: A second tier solution is a layer built on top of a blockchain that enables additional functionality and scalability, while still maintaining the security and trustlessness of the underlying blockchain.
Q: What are zero-knowledge proofs?
A: Zero-knowledge proofs are a cryptographic technique that enables parties to prove the validity of a statement without revealing any information beyond the statement itself.
Q: Why is decentralization important in blockchain?
A: Decentralization ensures that no single entity has control over the network, improving its security and resilience to attacks. It also enables a more democratic and inclusive governance model, where stakeholders have a say in the evolution of the protocol.