StarkNet Blockchain Development

An innovative initiative led by a tech firm established in 2017, this project is recognized for its contributions to cryptocurrency, particularly through the efforts of co-founder Eli Ben-Sasson, who played a significant role in the creation of the privacy-focused currency Zcash.

The company is committed to developing robust and scalable blockchain solutions. In 2020, it launched its first product, a scaling solution designed to tackle specific challenges faced by various protocols. For example, one of its applications helps minimize blockchain transaction volumes, allowing users of decentralized exchanges (DEXs) to benefit from lower fees and faster transactions. Other platforms have also adopted this technology.

Recognizing the limitations of its earlier product, the team introduced a new platform in 2022 that utilizes Zero Knowledge Proofs technology. This innovative mechanism allows for transaction verification without disclosing transaction details, ensuring enhanced security and scalability.

The project has attracted significant investment, making it one of the most well-funded initiatives in the Web3 space. Prominent venture capital firms have collectively invested substantial amounts during various funding rounds.

Plans for a governance token were announced in July 2022, with the token becoming publicly available in 2024, following a major airdrop and subsequent listings on popular exchanges.

Designed as a second-layer blockchain, the platform enables applications to scale efficiently while maintaining security. Its high performance is driven by decentralized zero-knowledge rollup technology, which offloads complex computations to external verifiers.

Decentralized applications (dApps) aggregate user transactions and send them to the network, which then generates proofs to validate this data and forwards them for confirmation on the main blockchain. This final verification process is efficient, requiring minimal time and resources.

What sets this platform apart is its unique implementation of zero-knowledge proofs. The zk-STARK technology allows for the secure exchange of verified data and the execution of computations with third parties without compromising sensitive information.

Similar to other zk-Rollups, this platform supports independent deployment of smart contracts, composability, and is secured by Ethereum. However, its decentralized protocol provides broader functionality.

It was the first zk-Rollup platform where developers, users, and node operators could interact with the network similarly to Ethereum — creating and deploying smart contracts, sending and receiving transactions, and operating nodes.

In Ethereum, transactions are verified sequentially, with new blocks containing details of their predecessors. This platform follows a comparable model, but verifiers handle transactions asynchronously, allowing for parallel processing and enhancing scalability. The team plans to extend this capability to the sequencers as well.

Following an upgrade to the Ethereum blockchain, new processes aimed at boosting throughput, such as sharding and rollups, became feasible. Rollups handle transactions off the main layer, including only final data on the chain.

Until recently, two primary technologies dominated this space: Zero-Knowledge Rollups and Optimistic Rollups. This initiative introduced a third option — a decentralized zk-Rollup that eliminates the need for trusted installations for transaction verification and reduces computational demands.