Ethereum Starknet Launches Testnet for ‘Quantum Leap’ Upgrade

StarkWare, an Israeli-based company working to scale Ethereum (ETH) Free Testnet for its latest Layer-2 solution, StarkNet v12.0. The new version focuses on improving performance and user experience, with a significant 10x increase in throughput achieved through the implementation of sequencers in Rust.

StarkNet Upgrade Signals Boost for Ethereum’s Scalability

According to the company’s blog post, the sequencer has been optimized with the help of lambdaclasses, resulting in a smoother user experience by removing the pending status for transactions. A new syscall has also been introduced to easily retrieve previous block hashes.

In addition, the new version of StarkNet supports the new Cairo syntax which focuses on security. This means that the new syntax is designed to make it easier for developers to write secure smart contracts that are less prone to errors and vulnerabilities.

The network upgrade to StarkNet v12.0 will undergo a community vote, ensuring broad participation and input. The community will have the opportunity to shape the future of StarkNet, and the upgrade protocol for breaking changes includes a six-month window in which contracts compiled with the older compiler version (v1.1.0) will still be accepted.

StarkNet’s approach is to achieve sufficient scalability in scale and cost, with the next priority being the reduction of transaction costs. The long-term goal is to provide a scalable, flexible, cost-effective infrastructure for decentralized applications.

The upcoming vote for StarkNet Alpha V0.12.0 will allow the community to test and test the upgraded version before it is approved for mainnet deployment. Everyone is invited to participate in the proposal and vote on upgrading the StarkNet mainnet accordingly.

StarkNet empowers developers to code solutions that make a difference, and the new version allows developers to jump start their Cairo development journey. Along with the Cairo docs, Cairo Basecamp, and tutorials, developers can stay up to date with all version updates by signing up for the StarkNet Developers newsletter.

The release of StarkNet Alpha V0.12.0 represents a significant milestone for StarkWare and Ethereum, with a focus on the performance and user experience of a layer-2 solution that promises to enhance scalability and reduce transaction costs for decentralized applications. does.

Ethereum Price Rises, But Network Activity Shows No Significant Increase

according to recent statistics From Glassnode, despite the recent increase in Ethereum price, there has not been a significant increase in network activity, with gas prices remaining relatively low. This is in stark contrast to the situation during the Shanghai upgrade in April, which was preceded by a similar rally in the ETH markets, where gas prices rose by 78%.

The gas price on the Ethereum network measures the cost of executing smart contracts and transactions. When transaction processing demand exceeds available network capacity, gas prices increase as users compete to process their transactions more quickly. This often happens during periods of high network activity, such as upgrades and market rallies.

However, the recent bull run in Ethereum price has not resulted in a significant increase in network activity, as gas prices have remained relatively stable.

This could be due to a number of factors, such as the current rally being driven more by institutional investors and DeFi protocols rather than individual users. Additionally, more network capacity may be available now than during the Shanghai upgrade, which may help keep gas prices under control.

Despite low gas prices, there are still signs of growth and development within the Ethereum ecosystem. For example, the recent release of the StarkNet v12.0 testnet by StarkWare is a significant milestone for Ethereum, as it promises to increase scalability and reduce transaction costs for decentralized applications built on the network.

Following in the footsteps of Bitcoin, ETH is trading at $1,900 and is down 1.8% over the past 24 hours.