StarkWare Unveils Ethereum Scaling System
StarkWare, a maker of blockchain scaling systems that was valued at $8 billion last year, announced plans to open source its core cryptographic software tool on 6th Feb.
StarkWare’s technology addresses Ethereum’s scalability issues, which cause slow throughput and high gas or transaction fees. The company has two platforms: the StarkEx scaling engine and StarkNet, which provides the technologies to developers creating dapps. StarkWare intends to make the STARK Prover technology that powers those projects open source.
The news was revealed during the two-day StarkWare Sessions 2023 event in Tel Aviv, Israel. According to the company, the open-source plan will take time to implement, but StarkWare is committed to making the entire tech stack transparent for developers.
“Every step we take to provide infrastructure, and to make it accessible and decentralized, is a catalyst for devs to build,” StarkWare co-founder and President Eli Ben-Sasson said in a statement at the summit. “And the quicker and more broadly they build, the faster we’ll see mass onboarding to solutions that truly enable people to manage their own funds. So there’s a direct line between open-sourcing key tech and popularizing self-custody.”
Following the demise of centralised cryptocurrency exchange FTX, crypto infrastructure projects have gained prominence. Investment in cryptocurrency companies fell 91% year on year in January, as investors shifted away from centralised finance projects. However, infrastructure remained relatively strong and was the highest-earning vertical.
(With inputs from Shikha Singh)
You need to login in order to Like
