StarkNet Announces Roadmap Updates for 2024
StarkNet, the Layer 2 scaling solution for Ethereum, has made significant updates to its roadmap for 2024. These updates aim to improve network efficiency, lower transaction costs, and introduce new transaction types.
Transaction Fee Reduction
In Q1 2024, StarkNet v0.13.0 will implement a 50% reduction in Cairo step/builtin costs. Additionally, there will be a 10% reduction in Layer 1 (L1) data availability, along with gas discounts per transaction and contract changes. This is made possible by expected increases in block size, which will enable more efficient data batching.
v3 Transactions
In Q1 2024, version 0.13.0 will introduce v3 transactions. Users will have the option to pay transaction fees using the STRK token as well as ETH. These v3 transactions will support upcoming features such as a fee market for optimized transactions during congestion periods and a paymaster mechanism for alternate fee payment methods.
Future Developments
StarkNet plans to further reduce Layer 1 costs with Ethereum EIP-4844, although the timeline is still uncertain. Version 0.14.0 proposes a transaction fee market to achieve faster transaction finality. Details are still being finalized for Volition mode, which aims to further decrease transaction costs in future versions.
Hot Take: StarkNet Enhances Scalability and Efficiency on Ethereum Network
StarkNet’s updated roadmap showcases its ongoing commitment to improving scalability and efficiency on the Ethereum network. With reduced costs and expanded functionality, users can expect a better experience when utilizing StarkNet’s Layer 2 scaling solution.
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