With the continuous growth of demand for blockchain technology, the limitations of current technology in terms of scalability and privacy protection have become increasingly prominent, and the Ethereum network is a typical representative of this. To effectively address these challenges, the importance of second-layer scaling solutions is becoming increasingly prominent. These solutions aim to transfer some transaction processing outside the Ethereum main chain, thereby improving system throughput, reducing transaction costs, and ensuring transaction security. At the same time, they also focus on strengthening privacy protection measures, committed to protecting user data from being leaked and ensuring the confidentiality of information.
On October 22nd at 16:00 (UTC + 8), The First will launch the Layer2 project Starknet, a decentralized ZK-rollup scaling solution on Ethereum that can improve transaction speed and reduce costs, allowing any dApp to achieve unlimited computing scale without compromising Ethereum's composites and security. Starknet solves the two most urgent problems of permissionless blockchain: scalability and privacy. StarkWare's cryptographic proof is zero-knowledge, concise, transparent, and post-quantum secure.
What is Starknet?
Starknet, as a cutting-edge Layer 2 extension solution, is designed to enhance the Ethereum network and alleviate its congestion issues. It uses zk-STARKs (zero-knowledge proof technology), an innovative technology that greatly enhances data security, privacy protection, and system scalability. With Starknet, developers can build and run high-performance smart contracts in a decentralized environment without worrying about high transaction fees or application security concerns.
Starknet's core mission is to provide an ideal platform for decentralized applications (DApps) with high performance and low transaction costs, especially meeting the needs of cutting-edge fields such as decentralized finance (DeFi), non-fungible tokens (NFT), and game finance (GameFi). With its excellent flexibility and advanced features, developers can use the unique Cairo language, combined with Starknet's high throughput and high customizability, to create innovative and personalized DApps.
Starknet's creator, StarkWare, is a leading enterprise headquartered in Israel, focusing on building Layer 2 blockchain solutions for Ethereum. In addition to Starknet, StarkWare has also developed StarkEx, aiming to improve the scalability and operational efficiency of decentralized exchanges.
The Starknet ecosystem has experienced significant growth, with a significant increase in project value. This growth can be attributed to the advantages provided by Starknet, the innovative projects being developed within the ecosystem, and the challenges it aims to address. As Starknet continues to develop, it has the potential to completely change the scalability and functionality of Ethereum, driving the adoption of blockchain technology in various industries.
Second , how does Starknet work?
Starknet has significantly improved its Operational Efficiency in the field of blockchain technology, mainly due to the close collaboration between its two core components, the Sequencer and the Prover, in its second layer framework. As a pioneer in transaction processing, the Sequencer surpasses traditional Ethereum nodes in its functionality, efficiently collecting and sorting transactions and integrating them into blocks. In this process, the Sequencer plays the role of the first filter, allowing only validated valid transactions to enter the proposed block, ensuring high data integrity and effectively reducing network congestion during block creation.
Once the sorter completes the compilation of the block, the prover takes over the responsibility and assumes the key responsibility of the second layer of verification. The prover uses the zk-STARK (Zero-Knowledge Scalable Transparent Knowledge Argument) technology to generate cryptographic proofs for these blocks. This process not only records the transformation of the blockchain state, but also verifies the authenticity of transactions by creating detailed execution trajectories and state differences. The core task of the prover is to ensure that the blocks submitted by the sorter are correct, that is, there are no errors or fraudulent transactions. To this end, they generate a powerful STARK proof for each block, which provides an additional verification layer before the data is finally written to the blockchain.
The strict interaction process between the sorter and the prover is crucial for maintaining the security and efficiency of blockchain transactions. When the data finally arrives at the Ethereum mainnet for confirmation, it has undergone layers of verification to ensure the accuracy and security of the transaction. This meticulous verification mechanism is crucial for establishing trust and reliability in blockchain transactions, especially for application scenarios that require extremely high security and transparency.
Starknet demonstrates a complex and efficient method for processing blockchain transactions by introducing sorters and provers. This setup not only significantly improves transaction throughput, but also effectively reduces the operational burden of the Ethereum main network, providing an innovative solution to solve the scalability issues in blockchain technology.
As an important milestone in the evolution of blockchain, zk-Rollup technology fully utilizes the work of sorters and provers to further compress transaction data, thereby achieving higher scalability and lower transaction costs on the Ethereum network. Starknet's innovative practice demonstrates its firm commitment to continuously improving the scalability and efficiency of blockchain technology through advanced cryptographic methods and system design.
III. Starknet Core Technology
Starknet, as a cutting-edge Layer 2 scaling solution designed specifically for Ethereum, aims to alleviate network congestion and significantly improve scalability. By adopting zk-STARKs (zero-knowledge proof technology), it not only enhances data security, privacy, and scalability, but also enables developers to efficiently build and run smart contracts in a decentralized environment without worrying about high transaction fees or security threats.
Zk-STARKs, a cryptographic innovation pioneered by StarkWare, is the core of Starknet's Layer 2 goal. The technology combines modern algebra with validated hash functions to transfer complex computational processes from the chain to the off-chain STARK prover. The cryptographic proof generated by the STARK prover is then verified by the on-chain STARK validator to ensure the accuracy of all computations. Zk-STARKs not only leads in speed compared to similar cryptographic structures, but also relies on fewer and more secure cryptographic assumptions, has natural defense against quantum attacks, and is completely transparent without hidden vulnerabilities.
The Starknet platform integrates multiple key components to support its efficient and cost-effective smart contract processing capabilities.
IV . Starknet team and financing information
The Starknet team has more than 80 members, and the core members are relatively well-known. Eli Ben-Sasson is the founding scientist of Zcash, the inventor of zkSNARKs, and has deep research and influence in the field of ZK-Rollup. Other members: Henri Lieutaud is the developer relations director of the Starknet foundation. James Strudwick is the executive director of StarkNet and former head of ecological growth. He was previously the vice president of growth at the Mina Foundation and the head of business development at Alpaca Finance, and graduated from the University of Bath.
Financing: $5.50 million seed round led by Binance Labs, with participation from Genblock Capital, Yield Guild Games (YGG), Delphi Digital, Animoca Brands, Hashkey Capital, ExNetwork Capital, Double Peak Group, Mechanism Capital, Alameda Research, Merit Circle, etc. Strategic round 2.50 million: Hashkey Capital, Merit Circle, ygg sea, AVOCADO GUILD, etc
On October 22nd at 16:00 (UTC + 8), The First will launch the Layer2 project Starknet, a decentralized ZK-rollup scaling solution on Ethereum that can improve transaction speed and reduce costs, allowing any dApp to achieve unlimited computing scale without compromising Ethereum's composites and security. Starknet solves the two most urgent problems of permissionless blockchain: scalability and privacy. StarkWare's cryptographic proof is zero-knowledge, concise, transparent, and post-quantum secure.
What is Starknet?
Starknet, as a cutting-edge Layer 2 extension solution, is designed to enhance the Ethereum network and alleviate its congestion issues. It uses zk-STARKs (zero-knowledge proof technology), an innovative technology that greatly enhances data security, privacy protection, and system scalability. With Starknet, developers can build and run high-performance smart contracts in a decentralized environment without worrying about high transaction fees or application security concerns.
Starknet's core mission is to provide an ideal platform for decentralized applications (DApps) with high performance and low transaction costs, especially meeting the needs of cutting-edge fields such as decentralized finance (DeFi), non-fungible tokens (NFT), and game finance (GameFi). With its excellent flexibility and advanced features, developers can use the unique Cairo language, combined with Starknet's high throughput and high customizability, to create innovative and personalized DApps.
Starknet's creator, StarkWare, is a leading enterprise headquartered in Israel, focusing on building Layer 2 blockchain solutions for Ethereum. In addition to Starknet, StarkWare has also developed StarkEx, aiming to improve the scalability and operational efficiency of decentralized exchanges.
The Starknet ecosystem has experienced significant growth, with a significant increase in project value. This growth can be attributed to the advantages provided by Starknet, the innovative projects being developed within the ecosystem, and the challenges it aims to address. As Starknet continues to develop, it has the potential to completely change the scalability and functionality of Ethereum, driving the adoption of blockchain technology in various industries.
Second , how does Starknet work?
Starknet has significantly improved its Operational Efficiency in the field of blockchain technology, mainly due to the close collaboration between its two core components, the Sequencer and the Prover, in its second layer framework. As a pioneer in transaction processing, the Sequencer surpasses traditional Ethereum nodes in its functionality, efficiently collecting and sorting transactions and integrating them into blocks. In this process, the Sequencer plays the role of the first filter, allowing only validated valid transactions to enter the proposed block, ensuring high data integrity and effectively reducing network congestion during block creation.
Once the sorter completes the compilation of the block, the prover takes over the responsibility and assumes the key responsibility of the second layer of verification. The prover uses the zk-STARK (Zero-Knowledge Scalable Transparent Knowledge Argument) technology to generate cryptographic proofs for these blocks. This process not only records the transformation of the blockchain state, but also verifies the authenticity of transactions by creating detailed execution trajectories and state differences. The core task of the prover is to ensure that the blocks submitted by the sorter are correct, that is, there are no errors or fraudulent transactions. To this end, they generate a powerful STARK proof for each block, which provides an additional verification layer before the data is finally written to the blockchain.
The strict interaction process between the sorter and the prover is crucial for maintaining the security and efficiency of blockchain transactions. When the data finally arrives at the Ethereum mainnet for confirmation, it has undergone layers of verification to ensure the accuracy and security of the transaction. This meticulous verification mechanism is crucial for establishing trust and reliability in blockchain transactions, especially for application scenarios that require extremely high security and transparency.
Starknet demonstrates a complex and efficient method for processing blockchain transactions by introducing sorters and provers. This setup not only significantly improves transaction throughput, but also effectively reduces the operational burden of the Ethereum main network, providing an innovative solution to solve the scalability issues in blockchain technology.
As an important milestone in the evolution of blockchain, zk-Rollup technology fully utilizes the work of sorters and provers to further compress transaction data, thereby achieving higher scalability and lower transaction costs on the Ethereum network. Starknet's innovative practice demonstrates its firm commitment to continuously improving the scalability and efficiency of blockchain technology through advanced cryptographic methods and system design.
III. Starknet Core Technology
Starknet, as a cutting-edge Layer 2 scaling solution designed specifically for Ethereum, aims to alleviate network congestion and significantly improve scalability. By adopting zk-STARKs (zero-knowledge proof technology), it not only enhances data security, privacy, and scalability, but also enables developers to efficiently build and run smart contracts in a decentralized environment without worrying about high transaction fees or security threats.
Zk-STARKs, a cryptographic innovation pioneered by StarkWare, is the core of Starknet's Layer 2 goal. The technology combines modern algebra with validated hash functions to transfer complex computational processes from the chain to the off-chain STARK prover. The cryptographic proof generated by the STARK prover is then verified by the on-chain STARK validator to ensure the accuracy of all computations. Zk-STARKs not only leads in speed compared to similar cryptographic structures, but also relies on fewer and more secure cryptographic assumptions, has natural defense against quantum attacks, and is completely transparent without hidden vulnerabilities.
The Starknet platform integrates multiple key components to support its efficient and cost-effective smart contract processing capabilities.
- Contract regedit: serves as an index for all smart contracts on Starknet, making it easy for users to search and interact.
- ZK operator: responsible for generating zero-knowledge proofs for transactions, managing Merkle tree data structures, and ensuring the authenticity and accuracy of proofs.
- Execution Manager (EM): The command center for smart contract execution, processing transactions and updating network status to ensure smooth system operation.
- Verifier: Responsible for verifying zero-knowledge proofs submitted by users to ensure the legality and integrity of contract execution.
- Cairo programming language: Optimized for zk-STARKs, it enables developers to write complex and secure smart contracts and provides a local testing environment to verify the reliability and efficiency of contracts.
- Proof Validator Factory: Responsible for generating and managing validators to ensure efficient execution of the validation process.
- Storage layer: An efficient data structure based on Merkle tree, supporting fast data storage and retrieval of smart contracts.
- Gateway: Connecting Ethereum and Starknet, allowing users to easily transfer funds between the two platforms and enjoy the various advantages brought by Starknet.
IV . Starknet team and financing information
The Starknet team has more than 80 members, and the core members are relatively well-known. Eli Ben-Sasson is the founding scientist of Zcash, the inventor of zkSNARKs, and has deep research and influence in the field of ZK-Rollup. Other members: Henri Lieutaud is the developer relations director of the Starknet foundation. James Strudwick is the executive director of StarkNet and former head of ecological growth. He was previously the vice president of growth at the Mina Foundation and the head of business development at Alpaca Finance, and graduated from the University of Bath.
Financing: $5.50 million seed round led by Binance Labs, with participation from Genblock Capital, Yield Guild Games (YGG), Delphi Digital, Animoca Brands, Hashkey Capital, ExNetwork Capital, Double Peak Group, Mechanism Capital, Alameda Research, Merit Circle, etc. Strategic round 2.50 million: Hashkey Capital, Merit Circle, ygg sea, AVOCADO GUILD, etc
