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Starknet, a platform facilitating the development of next-generation distributed applications, has received a $12 million grant from the Ethereum Foundation. The grant is intended to support StarkWare's exploration of STARK-friendly hash functions, technology development, and the provision of open-source code to the broader ecosystem. STARKs, leveraged by Starknet, enable blockchain scalability, such as sharding, while maintaining transparent privacy and ensuring post-quantum security.
The grant underscores the Ethereum Foundation's vocal support for the StarkWare ecosystem and its commitment to fostering emerging technologies within the blockchain space.