The developer firm, together with the Starknet Foundation, said that the program will benefit “dapp” builders and core developers of the Starknet blockchain.
Starknet token distribution not yet finalized, despite speculation over portal screenshots
The Starknet Foundation is warning community members to be on the lookout for scams relating to circulating screenshots of early iterations of a token distribution portal.
Ethereum L2 Starknet aims to decentralize core components of its scaling network
Starknet has laid out its road map to begin decentralizing core components of its Ethereum layer 2 scaling network to defend against censorship and improve robustness.
Ethereum Layer-2 Booming: Will Gas Fees Drop Even In A Bull Market?
The adoption of Ethereum layer-2s is on the rise if Token Terminal data shared on November 6 is anything to go by. According to statistics from the blockchain analytics platform shared by Erik Smith, the Chief Investment Officer (CIO) of 401 Financial, the average active addresses over the past three months has exceeded 10 million, a nearly 2X expansion from early 2023.
Related Reading: Can The ADA Price Climb Above $20 In The Bull Market? Analyst Provides Answers
Ethereum Layer-2s Finding More Adoption
Looking at the chart, Polygon, an Ethereum sidechain, remains the most popular. At the same time, Arbitrum and OP Mainnet, which are common layer-2s adopting the roll-up technology, are actively being used.
Even so, OP Mainnet’s share is gradually dropping. Base, a layer-2 backed by Coinbase, and StarkNet are also finding adoption, expanding their share over the past three months.
In crypto, active addresses refer to the number of unique wallet addresses (sending and receiving) that have interacted with the blockchain, in this case, Ethereum, over a given period.
An uptick or contraction in the number of active addresses can be used to measure sentiment and the level of uptake. In bear markets, active addresses tend to drop, only rising when bulls flow in, pointing to a possible scramble for arising opportunities.
The recent uptrend coincides with the rapid expansion of leading crypto prices. Ethereum (ETH) prices are inching closer to the $1,870 resistance level, with a breakout above this line a potential trigger for a leg up that might see the coin retest $2,100 and even register new 2023 highs.
Usually, rising crypto prices tend to revive demand as the number of active addresses and, in some instances, the total value locked (TVL) in decentralized finance (DeFi), and more.
What Will Happen To Gas Fees?
Ethereum is the world’s most active smart contract platform, stretching its dominance mainly because of its first-mover advantage. The blockchain anchors more DeFi, non-fungible tokens (NFTs), and gaming activity. Deploying protocols, depending on their objectives, can either directly launch on the mainnet or layer-2s.
The mainnet is directly secured by validators, while layer-2 solutions depend on the mainnet for security but often re-route transactions off-chain. In this arrangement, more transactions can be processed cheaply and efficiently, relieving the mainnet.
Though the Ethereum base layer is secure, its peak transaction throughput remains relatively lower at around 15 TPS. This means during peak demand, gas fees tend to be higher, impacting user demand.
Still, Ethereum gas fees remain at a multi-year low at around 23 Gwei, according to trackers, as seen on the chart below. This is down from 240 Gwei recorded in February 2021 when crypto assets rapidly rose.
For now, whether gas fees will increase as the market recovers is yet to be seen. What’s evident is that as users opt for layer-2s, the mainnet will likely be relieved, keeping gas fee fluctuation low.
The Protocol: Celestia Airdrop Gets Crypto Users Asking About Starknet Despite No Similar Plans
In this week’s edition of The Protocol newsletter, we explain the mechanics (and roots) behind the “data availability” network Celestia, and its new TIA tokens, and turn our eyes to Starknet’s STRK tokens, which aren’t trading yet but are already being awarded to early contributors.
Starknet Foundation Showers STRK Tokens on Contributors, Though They’re Not Trading Yet
The foundation, formed in November 2022 after the initial developer StarkWare minted 10 billion STRK tokens, is now awarding early contributors to the Ethereum layer-2 network – even though they’re locked for trading at least until next April.
Starknet and zkSync buck trend as crypto ecosystems shed devs by 28%
Monthly active developers across the crypto ecosystem fell 28% year-on-year in October, though some have managed to buck the trend.
StarkWare Restores Crypto Access for Delinquent Wallet Updaters, After Complaints on X
After users complained on X, StarkWare walked back on a move in which it implemented an upgrade that made users’ funds inaccessible.
Starkware to Open-Source ‘Magic Wand’ of Its Zero-Knowledge Cryptography Next Week
The team behind the layer 2 Starknet blockchain said that they will also hold a code review on Aug. 31 at a conference in San Francisco.
Crypto Liquidity Network Paradigm Leans Into DeFi With StarkWare
The new Paradex decentralized perpetuals platform is backed by the recent appchain technology from StarkWare.
StarkWare’s ‘Starknet Stacks’ Could Add to Growing Field of Blockchain-in-a-Box Offerings
The announcement is part of a growing trend in Ethereum’s layer-2 ecosystem, where developers can create application-specific chains using the blockchain’s native stack.
Layer-2 Blockchain Starknet’s ‘Quantum Leap’ Upgrade Goes Live, for Speedier Transactions
The upgrade went live following a community vote that overwhelmingly agreed to deploy it to mainnet.
Starknet’s Quantum Leap hits testnet with TPS reaching ‘triple figures’
Starknet’s latest upgrade will scale the ZK rollup’s throughput by 50X or more. But capacity is very different to real world usage.
Starknet Plans ‘Quantum Leap’ Upgrade Next Week After Testnet Version Deployed
The upgrade will increase the number of transactions per second the blockchain can handle as well as reduce the time-to-inclusion.
Starknet Plans ‘Quantum Leap’ Upgrade Next Week After Testnet Version Deployed
The upgrade will increase the number of transactions per second the blockchain can handle as well as reduce the time-to-inclusion.
Starknet Plans ‘Quantum Leap’ Upgrade Next Week After Testnet Version Deployed
The upgrade will increase the number of transactions per second the blockchain can handle as well as reduce the time-to-inclusion.
Starknet moves closer to EVM compatibility with upcoming ‘Kakarot’ testnet
With fresh funding under its belt, a new zkEVM is set to go to testnet in August, allowing developers to write in any EVM-compatible language on Starknet.
‘Storage Proofs’ Touted as Alternative to Hack-Prone Bridges in Multichain World
Storage proofs, a feature that could minimize cross-chain exploits by allowing users to keep their assets on one chain and prove that it’s there on a different chain, will go live on Starknet soon.
Starknet Foundation Appoints Meta Veteran Oliva as First CEO
The executive will help the non-profit promote growth within the Starknet ecosystem.
Blockchain Developer Platform Alchemy Launches Public Support for ZK Rollup StarkNet
The blockchain is the first with native account abstraction that the web3 developer platform offers, allowing developers to build applications with Alchemy’s infrastructure on StarkNet.