{"id":18702,"date":"2024-11-18T19:33:50","date_gmt":"2024-11-18T17:33:50","guid":{"rendered":"https:\/\/forklog.com\/en\/starknet-plans-to-slash-fees-by-80-amid-transaction-surge\/"},"modified":"2024-11-18T19:33:50","modified_gmt":"2024-11-18T17:33:50","slug":"starknet-plans-to-slash-fees-by-80-amid-transaction-surge","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/starknet-plans-to-slash-fees-by-80-amid-transaction-surge\/","title":{"rendered":"Starknet Plans to Slash Fees by 80% Amid Transaction Surge"},"content":{"rendered":"<p>StarkWare, the developer behind the Layer 2 network Starknet, intends to quadruple transaction processing speed and cut fees by 80% in anticipation of a surge in user activity. CEO Eli Ben-Sasson shared this in an interview with <a href=\"https:\/\/cointelegraph.com\/news\/starknet-to-increase-tps-as-fees-fall-within-3-months\">Cointelegraph<\/a>.\u00a0<\/p>\n<p>The performance boost will stem from &#8220;better compilation and execution&#8221; of code on Cairo, Starknet&#8217;s native programming language. Developers aim to implement the necessary updates within three months.<\/p>\n<p>On October 29, the project <a href=\"https:\/\/www.starknet.io\/blog\/starknet-sustained-tps-record\/\">set<\/a> a personal record for average daily throughput at 127 <span data-descr=\"transactions per second \" class=\"old_tooltip\">TPS<\/span>. According to Ben-Sasson, this figure will exceed 1000 following the updates. For comparison, at the time of writing, the Solana network <a href=\"https:\/\/solanacompass.com\/\">processes<\/a> 800-1050 transactions per second.<\/p>\n<p>The promised fivefold reduction in fees will position Starknet at the forefront of the <a href=\"https:\/\/dune.com\/Marcov\/layer-2-transaction-cost\">cheapest networks<\/a> list. Currently, users pay $0.002 per transaction, and post-update, the cost should drop to $0.0004\u2014three times cheaper than the current leader Optimism, with an average of $0.0014 over the past month.<\/p>\n<p>The CEO of StarkWare predicts that the cost reduction will be achieved within the next year. In his view, this is a crucial part of preparing for the impending market activity boom.<\/p>\n<p>Developers have already <a href=\"https:\/\/x.com\/Starknet\/status\/1858471396323836276\">deployed<\/a> the Starknet v0.13.3 solution with reduced gas prices in the test network. The mainnet update is expected by the end of the week.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">One part of L2 scaling is Ethereum increasing its blob capacity. The other part is rollups becoming more data-efficient. Good to see <a href=\"https:\/\/twitter.com\/Starknet?ref_src=twsrc%5Etfw\">@Starknet<\/a> rising to the challenge.<\/p>\n<p>Would love to see more EVM rollups increasing data efficiency too (see <a href=\"https:\/\/t.co\/HZijLDNqog\">https:\/\/t.co\/HZijLDNqog<\/a> ) <a href=\"https:\/\/t.co\/0MTasPyPEg\">https:\/\/t.co\/0MTasPyPEg<\/a><\/p>\n<p>\u2014 vitalik.eth (@VitalikButerin) <a href=\"https:\/\/twitter.com\/VitalikButerin\/status\/1858486010927308871?ref_src=twsrc%5Etfw\">November 18, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Vitalik Buterin endorsed Starknet&#8217;s efforts in creating more efficient rollups, noting it as part of the solution to the L2 scaling issue.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"582\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/STRKUSDT_2024-11-18_19-06-31-1024x582.png\" alt=\"STRKUSDT_2024-11-18_19-06-31\" class=\"wp-image-245506\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/STRKUSDT_2024-11-18_19-06-31-1024x582.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/STRKUSDT_2024-11-18_19-06-31-300x170.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/STRKUSDT_2024-11-18_19-06-31-768x436.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/STRKUSDT_2024-11-18_19-06-31.png 1054w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">15-minute STRK\/USD chart on Coinbase. Data: <a href=\"https:\/\/ru.tradingview.com\/symbols\/STRKUSDT\/\" title=\"\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>At the time of writing, the STRK token is trading around $0.48, having risen by 6% over 24 hours.<\/p>\n<p>Back in September, Starknet users voted to launch STRK staking.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>StarkWare, the developer behind the Layer 2 network Starknet, intends to quadruple transaction processing speed and cut fees by 80% in anticipation of a surge in user activity. CEO Eli Ben-Sasson shared this in an interview with Cointelegraph.\u00a0 The performance boost will stem from &#8220;better compilation and execution&#8221; of code on Cairo, Starknet&#8217;s native programming [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":18701,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1178,1177,1134],"class_list":["post-18702","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-blockchain-fees","tag-starknet","tag-technical-updates"],"aioseo_notices":[],"amp_enabled":true,"views":"23","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/18702","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=18702"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/18702\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/18701"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=18702"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=18702"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=18702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}