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Layer 2 Solution, StarkNet Alpha Coming to Ethereum Mainnet

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Evening

So as the competition for Ethereum Layer Scaling Solutions heats up, StarkNet Alpha a new layer 2 solution is getting ready to be deployed on Ethereum mainnet in November. StarkWare, the developer of StarkNet announced that they plan to launch the Ethereum Mainnet launch no later than November.

StarkNet is a permissionless decentralized ZK-Rollup over Ethereum. In testing, it showed a promising 100X to 200X reduction in gas fees for the end users. In contrast to other Ethereum scaling solutions like Optimism and Arbitrum which use Optimistic Rollups, StarkNet uses a customized zero-knowledge Rollup, called STARKs (succinct transparent arguments of knowledge). STARKs settles the transactions without needing a trusted setup, preserving Layer 1 security and decentralization.

StarkNet is already being used by several of the Ethereum dapps like dYdX, DeversiFi, Immutable X and Sorare. As per StarkWare in off-chain Validium mode a gas saving of 100X to 200X have been achieved with StarkNet. Moreover there has been also substantial gas fees reduction for the standard Zero-Knowledge Rollups.

In Novemeber, when StarkNet goes live on Ethereum mainnet, initially only permissioned smart contract will be deployed with more complex functionalities coming later. StarkNet like other zk Rollups is way faster than Optimistic Rollups. Vitalik Buterin is a fan and advocate of zk rollups for scaling needs of Ethereum. Interesting things ahead for sure as we move close to Ethereum 2.0.

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