As a seasoned crypto investor with a knack for recognizing promising projects and a penchant for understanding their technological advancements, I find Starknet’s latest update particularly intriguing. The introduction of parallel execution is a game-changer in terms of scalability and transaction speed, potentially positioning Starknet as a leader among layer-2 solutions.
The Ethereum layer-2 scaling solution Starknet recently activated its parallel execution functionality on its testing network, with plans for a main network launch within a few weeks.
As a blockchain analyst, I’m excited to share that I’ve recently learned about an update on Starknet, a layer-2 solution running in tandem with Ethereum. This latest testnet revision introduces innovative features designed to expedite transaction processing, which could potentially enhance the overall user experience.
As a crypto investor, I’m excited to share that, in an announcement dated August 21st, Starknet unveiled that their network’s 0.13.2 version has gone live on the testnet. They mentioned that the full launch on the mainnet is expected within a week.
Version 0.13.2 of Starknet is now active on the Testnet and will be released on Mainnet in a week’s time ⚡
Why is this significant?
Parallel Processing
Currently, Starknet, like most blockchains, processes transactions one after another. Each transaction must wait its turn to be handled… However, with the upcoming release, Starknet will introduce Parallel Execution, allowing multiple transactions to be processed simultaneously, potentially increasing efficiency and reducing transaction delays.— Starknet 🐺🐱 (@Starknet) August 21, 2024
The latest improvement introduces a novel aspect called “concurrent execution,” enabling transactions to be handled all at once rather than one after the other. As a result, Starknet has been enhanced to manage “several transactions happening simultaneously,” as indicated by the developers, implying that there’s no longer a requirement to wait for each transaction to finish independently.
Prior to Starknet version 0.13.2, each transaction was processed sequentially. However, with the arrival of version 0.13.2, they are now executed concurrently (at the same time), which significantly enhances Starknet’s speed and capacity, benefiting both users and developers alike.
Starknet
Contrary to recent reports, Starknet (STRK) experienced a drop, with trading falling by 2.3%, according to statistics from crypto.news, and is currently priced at around $0.35.
As someone who has been closely following the developments in the blockchain industry for several years now, I am excited to share that Starknet’s ecosystem is preparing for more improvements. On August 20th, the team behind Starknet, StarkWare, made a significant announcement – their first-ever mainnet vote for STRK holders. This vote focuses on introducing staking to the network, a feature that I believe will bring more utility and value to the cryptocurrency space.
Starting in September, we’ll kick off a gradual deployment of our staking feature on a test network. Later in Q4 2024, this will transition to the main network. The plan also includes details about how tokens are created (minting) and methods for modifying staking settings. This allows the Starknet community to have a say in these important decisions directly.
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2024-08-21 13:18