Starknet Unveils 2024 Roadmap to Improve Ethereum Layer 2 Scaling
Starknet, a ZK-Rollup solution for scaling decentralized applications, has released its roadmap for 2024. The plan outlines various updates and enhancements aimed at increasing throughput and reducing transaction fees on the Ethereum Layer 2 network.
Introduction of Parallel Execution
One of the key updates mentioned in the roadmap is the introduction of parallel execution in version 0.13.2, which is scheduled for release in the second quarter of this year. Currently, Starknet’s sequencer executes each transaction sequentially before submitting them to the Ethereum blockchain. With parallelization, multiple transactions can be executed simultaneously.
Eli Ben-Sasson, CEO of developer StarkWare and board member of the Starknet Foundation, explained that parallel execution is like multitasking for rollups. It allows the sequencer to handle multiple transactions at once, addressing bottlenecks and ensuring faster and more efficient transaction processing.
Support for EIP-4844
Last week, Starknet added support for EIP-4844, also known as proto-danksharding, as part of Ethereum’s Dencun upgrade. This integration resulted in significant fee reductions on the network. Argent, one of the prominent wallet providers on Starknet, reported a drop in average fees for swaps from over $6.80 to just $0.04 after the upgrade.
Starknet’s Roadmap Plans
The roadmap also includes several other plans and updates aimed at further improving Starknet’s performance:
Cairo Native Integration
In collaboration with blockchain research firm Nethermind, Cairo Native integration is tentatively scheduled for version 0.13.3 in the third quarter of this year. This integration will allow the sequencer to operate directly on standard hardware architecture, resulting in faster transaction execution, reduced latency, and improved throughput.
Fee Reduction Strategies
In version 0.14.0, set to be released in the fourth quarter, Starknet aims to further reduce transaction fees through three primary strategies:
- Introducing volition for hybrid data storage
- Implementing “applicative recursion” to consolidate data storage evidence
- Exploring data availability compression to minimize Starknet’s data footprint on Ethereum
Hot Take: Scaling Solutions for a Better Ethereum Experience 👍
Ethereum has long faced scalability challenges due to its increasing popularity and usage. However, solutions like Starknet’s ZK-Rollup offer promising ways to address these issues and improve the overall user experience.
The introduction of parallel execution in Starknet’s upcoming release will significantly enhance transaction processing speed and efficiency. By allowing multiple transactions to be executed simultaneously, the network can handle higher volumes of transactions without experiencing bottlenecks.
Furthermore, the integration of Cairo Native into the sequencer will leverage standard hardware architecture to optimize performance. This will result in faster execution times, reduced latency, and improved throughput.
Starknet’s commitment to reducing transaction fees is commendable. The upcoming strategies, including hybrid data storage, applicative recursion, and data availability compression, will further contribute to lowering fees and making decentralized applications more accessible to users.
With these roadmap updates, Starknet is poised to play a significant role in scaling Ethereum and enabling a seamless experience for users. As the network continues to evolve, we can expect more efficient and cost-effective solutions that will drive the widespread adoption of decentralized applications.
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