StarkWare Will Open Source Their Scaling Solution for Ethereum

On Sunday, StarkWare, a blockchain scaling creator that achieved an $8 billion valuation in 2020, divulged plans to make its primary cryptographic software tool that can solve the scalability problem of Ethereum open source.

StarkWare Will Open Source Their Scaling Solution for Ethereum

Starkware Open Sourcing Scalability Solutions on Ethereum

StarkWare, an Israel-based technology company, is combatting the scalability issues of Ethereum with their two platforms: StarkEx scaling engine and StarkNet. These powerful tools are available to developers creating decentralized applications (dapps). Additionally, StarkWare plans on open-sourcing its STARK Prover technology for greater access and use. With these solutions, users can experience faster processing times and lower gas or transaction fees than before.

At the two-day StarkWare Sessions 2023 meeting in Tel Aviv, Israel, the company declared its plan to open source its entire tech stack. While this process will take some time to execute, StarkWare is committed to providing developers with a transparent experience.

Crypto Infrastructure Work Has Been Accelerated Recently

Eli Ben-Sasson, co-founder and President of StarkWare, articulated at the summit that by providing infrastructure that is accessible and decentralized, developers are encouraged to build faster. The quicker they move ahead with their projects, the sooner individuals can manage their funds independently – a direct result of open-source technologies becoming widely used. He says, “The faster we’ll see mass onboarding to solutions enabling people to manage their own funds.”

Following the failure of the centralized exchange FTX, infrastructure projects in the crypto space have gained more attention. In January 2021, investments in these companies witnessed a drop of 91% year-on-year as investors shifted away from centralized finance operations. Despite this downturn, infrastructural developments still shone strong and ranked highest among all verticals regarding returns.

Other content that may interest you: US Employment Data Causes Bitcoin to Drop

Jose Sequeira

Strong media and communication professional with a MA in Broadcast Journalism from City University and a BA in Media Studies with Spanish from the University of Sussex. Started my career as a journalist I have been working for almost 10 years in different regional and national news channels along with assorted media and still now I am working for different digital content creators. I love staying up to date with the latest developments in the crypto world, and I'm always on the lookout for new and innovative blockchain projects. I believe that crypto has the potential to revolutionize the way we think about finance and money, and I'm committed to bringing the most important news and analysis to my readers. With my extensive knowledge of the industry and my ability to spot emerging trends, I'm confident in my ability to keep my readers informed and engaged in this fast-paced and rapidly changing space.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button