StarkNet is an Ethereum layer-two (L2) rollup that utilizes its native zero-knowledge proof (ZK-proof) technology called STARK to compute and verify transactions. StarkNet tokens, also known as STRK, serve as the native cryptocurrency of the StarkNet L2 network². Here are some key points about StarkNet:
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Layer 2 Validity Rollup: StarkNet operates as a permissionless decentralized L2 validity rollup. It is designed to allow Ethereum to scale via cryptographic protocols called STARKs, without compromising Ethereum's core principles of decentralization, transparency, inclusivity, and security¹³.
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Scalability and Security: By leveraging STARKs, StarkNet enables any decentralized application (dApp) to achieve unlimited scale for computation while maintaining Ethereum's composability and security. It provides a solution for scaling Ethereum without sacrificing its fundamental properties¹.
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Cairo Contracts: StarkNet Contracts and the StarkNet OS are written in Cairo, a programming language that supports the deployment and scaling of any use case, regardless of the business logic¹.
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High Performance: Vitalik Buterin, the CEO of Ethereum, has mentioned that StarkNet can support Ethereum to reach 100,000 transactions per second. It offers advantages such as low transaction fees and high performance⁴.
In summary, StarkNet aims to enhance Ethereum's scalability while maintaining its integrity and security through innovative cryptographic techniques.
Source:
(1) What is StarkNet Token? All You Need to Know about STRK. https://www.techopedia.com/what-is-starknet-token-all-you-need-to-know-about-strk.
(2) Starknet price today, STRK to USD live price, marketcap and chart .... https://coinmarketcap.com/currencies/starknet-token/.
(3) Starknet Price: STRK Live Price Chart & News | CoinGecko. https://www.coingecko.com/en/coins/starknet.
(4) What is StarkNet (STRK)? - Coin Engineer. https://coinengineer.io/blog/starknet-strk/.