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0.24%Starknet, an Ethereum Layer 2, Plans 'Parallel Execution' to Mimic Solana's Speed Feature
The new feature, described as "multitasking for rollups," is on Starknet's project road map for the second quarter, released Wednesday.
Updated Mar 20, 2024, 12:12 p.m. Published Mar 20, 2024, 12:00 p.m.
- Starknet's 2024 road map calls for the addition of parallel transactions starting in the second quarter.
- Developers behind the project also released plans for measures to cut fees.
- Starknet is the biggest in a category of layer-2 networks known as ZK rollups.
The developers behind Starknet, the Ethereum layer-2 network whose $2.3 billion STRK token airdrop last month captivated crypto markets, plan to add a design feature known as "parallelization" – one of the factors that reportedly makes rival blockchain Solana popular as a venue for fast, cheap transactions.
The feature will go live as part of an upgrade set for the second quarter, allowing Starknet to "process a greater number of transactions simultaneously, resulting in improved throughput and faster L2 finality," according to a press release distributed by a representative of the developer StarkWare. It is part of the 2024 road map released Wednesday.
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"Parallel execution is basically multitasking for rollups," Eli Ben-Sasson, CEO of StarkWare and a board member of Starknet Foundation, said in a statement forwarded by a press representative via Telegram. "This will address a bottleneck, and keep transactions flowing faster and more efficiently. It's like a subway station with one entrance point tackling congestion by opening more entrances."
Specifically, he said, Starknet's sequencer will be getting the parallel execution. A sequencer is a component of a layer-2 network that bundles up transactions conducted on the network and relays them to the main Ethereum network to be settled.
According to the website L2Beat, which ranks layer-2 networks, Starknet is the sixth-biggest, with a total value locked (TVL) of $1.4 billion, well behind the leaders Arbitrum One and OP Mainnet.
Among the class of layer 2s known as "ZK Rollups," designed for faster settlements based on a technology known as zero-knowledge cryptography, Starknet is the biggest.
Additional efforts this year will include fee-reduction measures, including the "Volition" project for data availability as well as "DA compression" that will "reduce Starknet's data footprint on L1, translating into lower fees for end users," according to the press release.
Read More: Starknet Token STRK Begins Trading at $5 After Mammoth Airdrop
Bradley Keoun
Bradley Keoun is CoinDesk's managing editor of tech & protocols, where he oversees a team of reporters covering blockchain technology, and previously ran the global crypto markets team. A two-time Loeb Awards finalist, he previously was chief global finance and economic correspondent for TheStreet and before that worked as an editor and reporter for Bloomberg News in New York and Mexico City, reporting on Wall Street, emerging markets and the energy industry. He started out as a police-beat reporter for the Gainesville Sun in Florida and later worked as a general-assignment reporter for the Chicago Tribune. Originally from Fort Wayne, Indiana, he double-majored in electrical engineering and classical studies as an undergraduate at Duke University and later obtained a master's in journalism from the University of Florida. He is currently based in Austin, Texas, and in his spare time plays guitar, sings in a choir and hikes in the Texas Hill Country. He owns less than $1,000 each of several cryptocurrencies.
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