By George Ward
StarkWare, a layer-2 technology company, has announced its plans to make its Stark Prover available to all. The Israeli firm stated that this move would enhance accessibility for developers, encourage collaboration in the community, and provide additional benefits.
StarkWare Moving Towards Full Decentralization
The Prover is the driving force behind the company’s ability to aggregate thousands of transactions. The co-founder and president of Starkware, Eli Ben-Sasson, said the Prover is Stark technology’s magic wand.
According to him, the software marvelously creates the proofs that make scaling beyond imagination possible. In addition, the company achieves scaling for Ethereum through zero-knowledge (ZK) proofs.
ZK proof is a technology that allows a company to confirm a statement’s validity without disclosing its content. This tool handles partial transaction data outside the root chain, reducing its load.
The outcome of this process of aggregating transactions is a significant increase in speed while preserving security. Additionally, the company said it would change the name of the software.
The software’s new name would be “StarkNet Prover.” Furthermore, the tech firm said the software would be accessible under the Apache 2.0 license.
The company has already initiated the open-sourcing of some components, including the Papyrus Full Node, Cairo 1.0, and the newly introduced StarkNet Sequencer. Besides, the platform believes that making the Prover open-source is the concluding step in the ecosystem’s decentralization. The company said:
“The Prover open-sourcing must occur before the Starknet network can move towards full decentralization. This will make the entire StarkNet stack fully open-sourced, which aligns with the principles of a permissionless, decentralized, Layer-2 network.”
StarkNet’s TVL Increased By 40% In The Last 30 Days
Last month Ben-Sasson, while speaking at a gathering in Tel Aviv, noted that this accomplishment is a massive milestone for scaling the Ethereum network and cryptography. Meanwhile, StarkWare offers scaling solutions to diverse crypto networks such as dYdX, Sorare, and ImmutableX.
The company has successfully handled 327 million transactions, completed approximately $824 billion in settlements, and minted over 95 million NFTs. Notably, in June 2022, StarkWare announced the launch of its Foundation and StarkNet token.
Since then, the platform has been working towards complete decentralization. Meanwhile, the layer-2 ecosystem’s total value locked (TVL) has consistently increased since the start of 2023 despite 2022’s poor statistics.
L2beat, an analytics and research platform, revealed that since January, the layer-2 ecosystem’s TVL has increased by 40% to about $5.73 billion. Optimism and Arbitrum One are the foremost companies in this industry, commanding a combined market share of over 80%.
Furthermore, according to L2beat, StarkNet’s TVL has seen a rise of 40% since the beginning of the year. The network’s TVL currently stands at about $6.84 million.
HeraldSheets.com produces top quality content for crypto companies. We provide brand exposure for hundreds of companies. All of our clients appreciate our services. If you have any questions you may contact us. Cryptocurrencies and Digital tokens are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors and the views expressed in them do not reflect the views of this website. Herald Sheets is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Read full terms and conditions / disclaimer.