What is Starknet (STRK)?

Deep Dive

1. Purpose

Starknet processes transactions away from Ethereum’s main chain, then submits cryptographic evidence of those transactions for verification. This approach is intended to lower the computation burden on Ethereum and support apps such as decentralized finance and games. Starknet

2. Technology

Starknet is a validity rollup, a type of Layer 2 that uses proofs to show that transactions were processed correctly. Its STARK proofs are a form of zero knowledge proof: they let the network verify computations without redoing every step. Starknet’s Cairo language is designed for writing programs that can run with this proof system. Starknet

3. STRK token

STRK is the network’s native token. It can pay transaction fees, support protocol governance, and be staked to help secure the network. Staking means committing tokens to participate in network operations; STRK does not represent ownership in StarkWare or the Starknet Foundation. Starknet token overview

Conclusion

Starknet is a proof based scaling network for Ethereum, and STRK supplies some of its fee, governance, and security functions. How well can Starknet make complex applications easier and cheaper to use?