StarkWare launches alpha version of StarkNet, the L2 scaling solution

StarkWare, a project specialising in layer-2 scaling solutions, announced the launch of the alpha mainnet for StarkNet based on ZK-Rollup technology.

Ethereum L2, StarkWare, announced that the Alpha version of the mainnet is officially launched, and developers can start deploying contracts on StarkNet. StarkWare has provided Layer 2 network construction for dYdX, ImmutableX, DeversiFi and other projects.

— Wu Blockchain (@WuBlockchain) November 30, 2021

Developers can deploy smart contracts on StarkNet. They have the necessary tooling, as well as support on Discord.

StarkNet represents a permissionless solution on top of Ethereum based on Rollup. 

The launch of dapps on this network enables unbounded computations without compromising security and compatibility with the blockchain of the second-largest cryptocurrency by market capitalization.

At the core of StarkNet lies STARK — a mechanism that uses cryptographic proofs of execution and modern mathematical methods to ensure the integrity and confidentiality of computations. The latter are ‘packaged’ into a ‘verifier’ STARK off-chain for subsequent analysis by a ‘verifying’ STARK.

StarkNet has not yet undergone an audit. Developers warned of possible bugs that could lead to loss of funds.

Initially, transaction fees were not provided. In a few weeks, the developers are expected to implement a payment mechanism, to be announced later.

In the coming weeks and months StarkNet will receive various enhancements that will broaden its functionality.

Solutions from StarkWare are used by platforms such as dYdX, DeverxiFi, Sorare, Immutable and others. 

Earlier, the startup raised $50 million in a Series C funding round at a $2 billion valuation.

In November, Polygon unveiled a solution for scaling Ethereum based on ZK-Rollups.

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