In brief
- StarkNet relies on ZK technology to process masses of transactions quickly and cheaply.
- A number of major crypto players, including Alchemy and Immutable, are already using it.
Don’t look now, but there are signs that Ethereum’s high-gas-fee woes may be abating. Those high fees have long been a source of frustration for Ethereum users, but a series of so-called Layer 2 innovations have begun to offer a fix—the latest in the form of StarkNet, which is now integrated into crypto infrastructure giant Alchemy’s development kit.
For those unfamiliar, the idea of Layer 2 solutions (aka “roll-ups”) is to process big batches of transactions apart from Ethereum’s core blockchain, and then periodically write a record of those activities to Ethereum itself. The idea is to produce high transaction volumes at a much lower cost, all while creating the same immutable records as Ethereum.
StarkNet was created by an Israeli company called StarkWare that’s raised $173 million in fundin