Starknet stands as a ZK-rollup, a decentralized Layer 2 network, offering Ethereum the ability to scale securely while empowering dApps with limitless potential for transactions and computation.
Positioned as the solution to Ethereum's scaling needs, Starknet crypto startup was crafted by a StarkWare developer team initially utilizing STARKs to create a StarkEx scaling solution for clients.
Not much information is available regarding the forthcoming Starknet token. However, it's confirmed that the first native StarkWare token will serve a threefold purpose: facilitating transaction fee payments, operating as a governance tool, and contributing to the network's consensus mechanism.
A standout highlight of the Starknet coin lies in its strong backing: Starknet has secured significant support, raising over $273 million from Tier 1 investors such as Pantera Capital, Paradigm, Sequoia Capital, Coinbase Ventures, Polychain Capital, Multicoin Capital, Tiger Global Management, and ConsenSys.
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Starknet is an Ethereum-scaling Layer 2 validity rollup that uses STARK cryptographic proofs to achieve high throughput, low fees, and scalability. It is one of the most promising layer 2 solutions with great potential to become the most dominant rollup on Ethereum. a proven technology that has already been used to trade nearly $1 billion, process over 380 million transactions, and mint 100 million NFTs.
The driving force behind the Starknet ecosystem is a team of dedicated developers, initially employing STARKs to craft a scaling solution for clients. This innovative concept stemmed from the minds of StarkWare co-founders, who pioneered the StarkEx scaling solution. Recognizing the transformative potential of STARKs, StarkWare, alongside other developer teams, collectively known as "Core Contributors," embarked on the creation of Starknet – a public, decentralized, and permissionless infrastructure, ensuring perpetual accessibility of these groundbreaking scaling technologies.
The Starknet Foundation is a mission-driven non-profit organization that will work to maintain Starknet as a public good and promote its decentralization goals. The Foundation will be funded by a one-time grant of Starknet Tokens.
The Starknet Token is a native token that will be used to operate and govern the StarkWare ecosystem. The token will also be used to compensate developers for their work and incentivize them to continue developing on the platform.
Is there a way to receive Starknet Tokens?
While there are no shortcuts to receiving STRK tokens, there are various ways for individuals and organizations to contribute to the Starknet ecosystem and potentially earn tokens in the future. These include developing core infrastructure and dApps, contributing to security audits, and actively participating in governance processes.
Although the Starknet token roadmap, tokenomics, and whitepaper have not been revealed yet, the comprehensive reasoning behind Starknet Sovereignty is detailed in the initial project update. The second post outlines the introduction of a distinct Starknet Token, while the third post delves into the design principles and initial allocation of the Starknet coin.
Even a brief glance at the project's trajectory indicates a path toward success. Having raised $273 million through multiple fundraising rounds, Starknet crypto startup has garnered significant attention, currently holding a valuation of $8 billion. Notably, the involvement of top-tier investors such as Pantera Capital, Paradigm, Sequoia Capital, Coinbase Ventures, Polychain Capital, Multicoin Capital, Tiger Global Management, ConsenSys, and the endorsement of Vitalik Buterin serve as major indicators of the Starknet token potential.
The Starknet team is currently working on the distribution of the STRK tokens to developers and core contributors. Once this is complete, the official public Starknet token price will be announced.
Starknet is a Layer 2 scaling solution designed to scale the Ethereum network, with the ZK-STARK cryptographic mechanism at its core.
Considered one of the most promising L2 solutions, Starknet holds significant potential to dominate Ethereum's rollup landscape. Its technology, leveraging STARK proofs, has demonstrated prowess by facilitating nearly $1.13 trillion in cumulative trades, processing over 570 million transactions, and minting 123 million NFTs via the StarkEx solution.
In a recent announcement, the Starknet Foundation, the organization behind Starknet, confirmed the completion of the snapshot for the upcoming STRK token airdrop. They emphasized that the token distribution criteria are fixed and impervious to current actions. According to the team, detailed information on token allocation will be disclosed in a finalized update at a later stage.
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