Deep Dive
1. Purpose
Starknet aims to make Ethereum applications more scalable and less costly to use. It processes transactions on its own network, then submits results to Ethereum for verification and settlement. This design keeps a connection to Ethereum’s security while moving much of the computation off the base layer. (Starknet)
2. Technology
Starknet is a validity rollup, a type of Layer 2 that uses cryptographic proofs to show that transactions were processed correctly. Its STARK proofs are checked on Ethereum. Developers write Starknet contracts in Cairo, a programming language designed for this proof based computation; it is not compatible with Ethereum’s EVM programming environment. (Starknet technology)
3. STRK token
STRK is Starknet’s native token. It is used to pay network transaction fees and participate in staking, which helps support network security. STRK also supports governance, giving token holders a role in decisions about the protocol. (CoinMarketCap)
Conclusion
Starknet is an Ethereum scaling network built around STARK proofs, while STRK supports its fees, staking, and governance. How effectively can its proof based design help developers build useful applications on Ethereum?null
