What Is Starknet: The L2 Rollout That Settles On Bitcoin & Ethereum

Starknet is gaining more attention in the blockchain ecosystem as a Layer 2 solution designed to help scale Ethereum.

New ecosystem trends and solutions now come with updates that include interaction with the Bitcoin network.

While its core solution remains rooted in Ethereum, the project has recently expanded to settle transactions across both major chains.

Starknet and the Protocol Ideology

As detailed, Starknet is a decentralized Layer 2 (L2) network built to work on top of Ethereum.

It uses ZK-Rollups, which helps group multiple transactions into a single proof and then posts that pool to the Ethereum mainnet for finality.

This process helps ease congestion on the Ethereum blockchain network while keeping transactions secure and traceable.

In simpler terms, it helps Ethereum do more without overloading the network or making users pay high gas fees.

Unlike other Layer 2 solutions focusing on one function, Starknet is general-purpose.

This means developers can build a wide range of decentralized applications (dApps) on it.

It is built using STARK proofs and Cairo VM., a unique programming language made by StarkWare, the team behind Starknet.

With Cairo, developers can create smart contracts that are more efficient and flexible than those on Ethereum alone.

According to the developer, one of Starknet’s advantages is its scalability.

This is because Ethereum can only handle a limited number of transactions per second.

Unfortunately, this often leads to slower speed, bad user experiences and higher fees.

To fix this, the heavy processing is moved to Starknet, and only the final results are sent back to Ethereum.

Starknet Solutions with Bitcoin

The recent move to interact with Bitcoin has added another layer of relevance to Starknet.

While Starknet was initially designed with Ethereum in mind, new features now allow the protocol to settle transactions across both Bitcoin and Ethereum.

This move stands out because most Layer 2 protocols stay confined to the Ethereum ecosystem.

While Bitcoin remains the most secure and dominant cryptocurrency network, it faces major limitations.

Its low throughput, lack of flexibility, and absence of native smart contract support have kept it from serving more complex use cases. Starknet is working to change that.

Instead of altering Bitcoin’s core structure or consensus model, Starknet is building tools that allow it to act as an execution layer for Bitcoin.

This means developers can build scalable, programmable applications that still benefit from Bitcoin’s trusted settlement layer.

As detailed, this is not primarily an idea on paper; StarkWare is already building real infrastructure to make it possible.

Some of the tools in development include STARK proof verification on Bitcoin’s testnet and Collider Script. The latter brings recursive logic through hash collisions.

Prototypes are also being tested with sCrypt, and open advocacy is being conducted for the OP_CAT proposal to bring native programmability to Bitcoin.

Price and Market Performance of STRK

Starknet’s token, STRK, currently is the 115th largest asset in the global crypto market.

Market data show that it is currently priced at $0.1244. The token has also increased by 0.15% in the last 24 hours as of writing

While still early in its market journey, STRK has seen increasing attention as more developers and users explore the network’s tools and potential.

With over 63,000 monthly users, the token is imprinting its presence in the digital asset market.

Many crypto experts believe that the token is affordable for new investors and has a lot of potential due to growing network activity and upcoming partnerships.

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