StarkWare raises $50 million at a $2 billion valuation

The StarkWare project, focused on layer-2 solutions for scaling Ethereum using zkRollups technology. Its hallmark is the use of zero-knowledge proofs to validate transactions.

The StarkEx technology, developed by the Israeli startup, is used by the platforms dYdX, DeverxiFi, Sorare and Immutable. In terms of TVL, these services occupy 2nd, 7th, 9th and 10th places respectively in L2Beat’s ranking.

The StarkWare CEO Yuri Kolodny told The Block that, at the end of November, the project will launch the permissionless StarkNet Alpha, which will enable independent deployment of smart contracts. He added that several well-known projects, including MakerDAO, Aave and Argent, already intend to adopt the new technology.

In March, StarkWare raised $75 million in a Series B round.

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