Starknet Announces ‘Quantum Leap’ Upgrade to Boost Ethereum Layer 2 Network Transactions
Starknet, a prominent Ethereum Layer 2 network, is gearing up for the release of its highly anticipated upgrade named ‘Quantum Leap’ later this month. This significant update aims to revolutionize the network’s transaction processing capabilities, particularly by dramatically increasing the transactions per second (TPS).
The Quantum Leap upgrade, scheduled for deployment around July 13, promises to elevate Starknet’s sequencer transaction rate to “several hundred” per second.
This substantial improvement has been achieved through rigorous testing and engineering efforts led by StarkWare, LambdaClass, and other contributors within the Starknet ecosystem. The update was recently released on the Goerli testnet on July 3 and currently awaits validation through a community vote.
Eli Ben-Sasson, co-founder of StarkWare, expressed enthusiasm about the upcoming release, stating, “Starknet’s new version, Quantum Leap, is exactly what the name suggests – a leap in TPS, the likes of which nobody has yet achieved in the Ethereum ecosystem.”
Starknet is a decentralized Layer 2 network that employs a Zero Knowledge roll-up solution. This mechanism consolidates multiple transactions off-chain and publishes them as a single entity on the Ethereum network. StarkWare, the original architect of Starknet, pioneered the use of Stark cryptographic proofs within the network. Today, StarkWare collaborates with various contributors as part of the Starknet Foundation, responsible for the network’s operations and roadmap.
The Quantum Leap upgrade not only aims to increase TPS but also improve transaction latency. Under normal conditions, the expected time-to-inclusion will be reduced to under 15 seconds. This enhancement in scalability and efficiency is set to benefit decentralized finance (DeFi) applications and the gaming industry, as it enables faster transactions and higher throughput for users.
Looking ahead, Starknet’s roadmap includes version 13.0, planned for later this year, which aims to reduce transaction costs. Additionally, version 14 will introduce a system where developers can prioritize transactions by paying extra, thus creating a marketplace for block space on the Layer 2 network.
Furthermore, the Starknet network has its sights set on leveraging the account abstraction feature in the future. This mechanism opens up possibilities for innovative integrations within cryptocurrency applications, such as the utilization of two-factor authentication for signing crypto transactions and wallet recovery.
With the forthcoming Quantum Leap upgrade, Starknet aims to solidify its position as a leading Ethereum Layer 2 scaling solution, offering improved transaction speed, lower costs, and increased efficiency for users across various industries.