Israeli crypto startup Stark Ware has unveiled the new layer-2 Ethereum solution it’s been working on for some time. Known as Starknet v12.0, the upgrade – which also operates under the name “Quantum Leap” – is slated to boost the digital currency network’s throughput tenfold and help Ethereum achieve a level of greatness many analysts never even fathomed. Ethereum May Be on the Verge of Greatness Ethereum is the world’s second largest digital currency by market cap and the number one competitor to bitcoin. While the price of ETH may not be comparable to bitcoin, the asset has BTC beat in a big area: its network. The Ethereum network has garnered loads of attention over the year from developers who think that if they can build their coins or blockchains atop
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Nick Marinoff considers the following as important: News, Quantum Leap, Stark Ware
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Israeli crypto startup Stark Ware has unveiled the new layer-2 Ethereum solution it’s been working on for some time. Known as Starknet v12.0, the upgrade – which also operates under the name “Quantum Leap” – is slated to boost the digital currency network’s throughput tenfold and help Ethereum achieve a level of greatness many analysts never even fathomed.
Ethereum May Be on the Verge of Greatness
Ethereum is the world’s second largest digital currency by market cap and the number one competitor to bitcoin. While the price of ETH may not be comparable to bitcoin, the asset has BTC beat in a big area: its network. The Ethereum network has garnered loads of attention over the year from developers who think that if they can build their coins or blockchains atop ETH, they’re in great shape.
This was true for a long time. Sadly, thanks to this attitude, tons of traffic was eventually brought to ETH, thus slowing it down significantly and increasing its gas fees to the umpteenth degree. This gave way to several competing blockchains – like TRON – which were dubbed “Ethereum killers” and seen as newfound competition.
However, since then, Ethereum endured several upgrades including Shapella and the Merge, which took place roughly six months apart from each other in March of this year and September of last year, respectively. Ethereum has thus moved from a proof of work concept to a proof of stake module and alleviated some of the high fees and slow speeds that have since become synonymous with the network.
These upgrades have been seen as positive steps forward, but there are still many layer-2s out there that have been brought about as means of helping Ethereum push along even further. One of them is Stark Ware, and it’s now ready to unveil the latest version of itself.
It’s president and co-founder Eli Ben-Sasson has high hopes for the new Quantum Leap upgrade. He stated in an interview:
Starknet’s new version, Quantum Leap, is exactly what the name suggests: a leap in TPS, the likes of which nobody yet achieved in the Ethereum ecosystem.
Co-founder and CEO Uri Kolodny also threw his two cents into the mix, commenting:
We all discuss how Ethereum desperately needs [to] scale. We’re talking about throughput. It’s a concept we all know. How many kids can the water slide take in a minute? How many people can get through airport check-in [in] an hour? How many transactions can a blockchain accommodate in a second?
Helping Things Get Faster
He continued with:
Latency really impacts the feasibility of building dApps that can smoothly leverage blockchain technology. When dApps [need] to wait for 15 minutes to confirm transactions on the blockchain, it’s cumbersome and holds back the potential of defi, gaming, and other use cases.