What Is Starknet Blockchain?
Starknet is a Layer 2 scaling solution for Ethereum, designed to enhance scalability and privacy. This guide will walk you through the fundamentals of Starknet, from its innovative technology to its growing ecosystem. Perfect for both beginners and experienced users, this guide will provide essential insights into Starknet.
Brief History and Development
Starknet was developed by StarkWare, a pioneer in zero-knowledge proof technology, and launched in 2021. It aims to address Ethereum’s scalability issues while maintaining high security and privacy standards. Key milestones include the Mainnet Alpha release in November 2021 and continuous upgrades to enhance performance and usability.
Differences Between Starknet and Other Blockchains
Starknet leverages zk-STARKs (zero-knowledge Scalable Transparent ARguments of Knowledge) to provide scalability and privacy. This technology allows Starknet to process a large number of transactions off-chain, reducing congestion and fees on the Ethereum mainnet while ensuring data privacy.
What You Need to Know About Starknet Ecosystem
The Starknet ecosystem is rapidly expanding, supporting a variety of applications and projects. Key components include:
StarkEx: Scaling Engine
StarkEx is a scaling engine built on Starknet, enabling high throughput for DeFi applications. It has been adopted by several leading DeFi projects to enhance their performance.
Starknet Alpha: Developer Platform
Starknet Alpha provides a platform for developers to build and deploy DApps with enhanced scalability and privacy features.
Getting Started With Starknet Blockchain
Setting Up a Starknet Wallet
To interact with Starknet, you’ll need a compatible wallet such as Gem Wallet, which supports STARK tokens and other assets on the Starknet network.
Acquiring STARK Tokens
STARK tokens can be acquired through exchanges or by participating in Starknet-based projects. Purchasing STARK with a credit card is also an option.
Utilize StarkEx
Engage with the StarkEx-powered applications to experience high-speed and low-cost transactions.
Stake STARK
Staking STARK tokens allows you to earn rewards while supporting the network. Use the staking feature in your wallet to start.
