Starknet’s Parallel Transactions: Boosting Throughput and Lowering Fees by 2024

Starknet, a scaling protocol for the Ethereum network, has unveiled its updated roadmap, revealing plans to enhance the throughput and reduce fees on its layer-2 rollup network by introducing parallel transaction functionality in 2024. This comes after the successful implementation of Ethereum’s Dencun hard fork, which included the introduction of Ethereum Improvement Proposal (EIP) 4844. EIP-4844 allows rollups to add cheaper data to blocks by using blob space instead of call data for storage. By enabling the blob function on the same day as the hard fork, Starknet experienced a significant decrease in user fees.

In early 2024, Starknet expanded the block size of its rollup protocol and reduced fees by approximately 25% with the release of Starknet v0.13.0. The next version update, scheduled for Q2, will introduce transaction parallelization, enabling the network to process multiple independent transactions concurrently. This will lead to improved throughput and faster finality on the Starknet network. Starknet plans to further reduce fees with version 0.14.0, which is expected to be released by the end of 2024.

The end-of-year update will include three data availability-focused upgrades. Volition will allow decentralized applications (DApps) to store data on Starknet instead of Ethereum’s base layer, facilitating hybrid data availability. Application recursion will enable developers to batch proofs of data storage from multiple Starknet blocks onto Ethereum, reducing costs and fees for end-users. Data availability compression is also being developed to decrease Starknet’s data footprint on Ethereum. Starknet is currently exploring different methods to enable this functionality.

Starknet is working towards increasing scalability and reducing fees on its layer-2 rollup network. By introducing parallel transaction functionality, expanding block sizes, and optimizing data availability, Starknet aims to enhance the performance of its protocol and provide a more cost-effective solution for Ethereum users.

Ravi Marable

Ravi Marable

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