Starknet, an Ethereum scaling protocol, has announced plans to enhance its layer-2 rollup network in 2024, aiming for increased throughput and reduced fees. Following the successful implementation of Ethereum’s Dencun hard fork, the network released an updated roadmap on March 20, which included the introduction of parallel transaction functionality through Ethereum Improvement Proposal (EIP) 4844. This proposal allows rollups to add cheaper data to blocks by utilizing blob space instead of call data for storage. Previously, using call data for off-chain bundled transactions’ proofs was expensive, as it required all Ethereum nodes to process the data indefinitely. Starknet and other Ethereum rollups quickly adopted the blob function after the Dencun implementation, resulting in a significant drop in users’ fees. Transactions on Starknet’s protocol averaged $0.017 in fees per transaction, thanks to their EIP-4844 compatibility. The team had already reduced fees by 25% with the release of Starknet v0.13.0 earlier in 2024, when they expanded the block size of their rollup protocol. In the second quarter of 2024, Starknet plans to introduce transaction parallelization, allowing for concurrent independent transactions and improving throughput and finality. Furthermore, version 0.14.0, set to be released by the end of 2024, aims to further reduce fees through three data availability-focused upgrades. These upgrades include Volition, which enables hybrid data availability on Starknet, application recursion for batching proofs of data storage, and data availability compression to reduce Starknet’s data footprint on Ethereum. Overall, Starknet is committed to enhancing its network’s scalability and affordability, making it a prominent player in Ethereum’s scaling solutions.
Starknet Aims for Enhanced Throughput and Reduced Fees Through Parallel Transactions by 2024