STRK (StarkNet) Project Analysis

1. Research Institute Review

Arbitrum's airdrop brought a profound creation effect that triggered a Layer2 interaction boom, with the remaining Layer2 Big Four projects zkSync and StarkNet. StarkEx is a mature platform that has been deployed on the main ethereum network since June 2020. Prior to the mainnet deployment, over 50 million StarkEx transactions were settled on public and private Ethernet test networks. starkWare is one of the best companies in the zk rollups circuit, with products such as StarkEX and StarkNet.

Eli Ben-Sasson is the founding scientist of Zcash, the inventor of zkSNARKs, has very deep research and influence in the field of ZK-Rollup, and is currently valued at 8 billion, top VCs like paradigm, Pantera, polychain and V-God StarkWare is funded by top VCs and individuals like paradigm, Pantera, polychain and V-God.

The total value of StarkNet cross-chain bridge storage, an Ethernet Layer2 scaling solution, has exceeded 40,000 ETH at 40,918 ETH (over $76 million at current ETH prices), with 324,005 users participating in bridge transactions. Historical data shows that the total value of StarkNet cross-chain bridge storage exceeded 10,000 ETH in early January and 20,000 ETH on March 24 this year.

2. Recent breakout points

ZK-Rollup series, which belongs to the projects invested by the Ether Foundation, has a high quality project. starkNet on-chain ecology has the head of the oldest project party in residence, and paradigm, an organization that loves to give big air investment, has also invested.

3. project introduction

StarkNet: a kind of permissionless decentralized Validity-Rollup (also called "ZK-Rollup"). It operates as an L2 network on Ether, allowing any dApp to achieve unlimited scale of computation - without compromising the compound and security of Ether, thanks to StarkNet's reliance on the most secure and scalable network: Scalability and privacy.StarkWare's cryptographic proofs are zero-knowledge, concise, transparent, and post-quantum secure.

4. token role

StarkNet has announced on November 16, 2022 the deployment of its native token $STRK on the ethereum mainnet for voting, pledging, and paying fees.

5. Token economic model

The project's tokens were announced on July 13, 2022. 9% of the total issue amount has been made available to users and programmers who created dApps on StarkNet. The token will be officially available in 2023, no more precise date was given so far

The first 9% community supply portion is a possible airdrop to users, meaning that users go on to divide the 450 million with the people who work for Starknet and provide technical support and development.

The second 9% community rebate is used to subsidize the processing fee after the subsequent announcement of the rebate rules, and it is useless to brush the processing fee before the announcement of the rules.

The third 10% strategic reserve is for on-chain ecological applications, allocated to the ecological application protocols.

6. Project highlights

1. Transparency: ZK-STARK can work without the trusted setting of a public reference string (CRS: Common Reference String ). Instead, publicly verifiable randomness is used to establish the interaction between provers and verifiers, which reduces user trust assumptions and improves the security of STARK-based protocols.

2. Scalability: STARK has the logarithmic compression feature of verification, which enables faster verification, i.e., when the time required to prove a proposition is T, the time required to verify the proof is only log(T), and this feature allows STARK to be scalable by recursively achieving low cost and reducing the latency of large combinatorial propositions.

StarkNet is a more general and complete Layer-2 solution that does not require a license.

7、Investment institutions

Financing: The company has been valued at $8 billion and has received strong support from Vitalik, Paradigm, Sequioa and other capital, making it the highest valued team in the scaling space. Intel Investment, Sequoia Capital, Ether Foundation, Paradigm and other top funds have raised a total of $273 million.

8. Community

Twitter: 73,000 people, with a high community fervor.

9. Special Economic Model

None

10. Future Outlook

The four kings of layer2: Optimism, Arbitrum, zkSync, StarkNet, only the last two have not announced airdrop. The result has been reflected in the market share of the Layer2 ecosystem. Due to the wealth effect, a large number of users flocked to other non-coin-issuing Layer2 projects to interact, especially zkSync and StarkNet, which are the remaining Layer2 projects. The bull market of crypto industry in 2021 is the explosion of new public chains, and the summer of Layer2 is expected by all users. With the success of Optimism and Arbitrum, the two remaining kings of Layer2, zkSync and StarkNet, need to show more sincerity to capture the market. The competition between projects and the wealth effect brought by user fomo have already made Layer2 Summer emerge.

StarkNet proposes a solution to transfer data availability to off-chain storage, Validium, where only hashes of validated state are stored on the chain. Data availability is stored by the Data Availability Committee (DAC), a quorum of independent members who oversee that state is updated correctly and keep copies of processed data. Validium is able to significantly reduce Rollup costs at the expense of decentralization and is suitable for data availability for non-critical transactions.

Basic Information

Project Description.

StarkNet's parent company, StarkWare, was founded in 2018 and is headquartered in Israel, with two main products, StarkEx, a scaling engine built on the Ethernet mainnet, and StarkNet, a general-purpose ZK-Rollup. The StarWare technical team has more than a decade of research and engineering experience in the ZKP domain, and in 2018 was the first to propose the use of SATRK proof of validity to solve the Ether scalability challenge and achieve unlocked large-scale scalability.

Full token name: StarkNet

Token name: STRK

Project website: https://starkware.co/

Project Documentation: https://docs.starkware.co/starkex/index.html

Block query:

https://etherscan.io/address/0xca14007eff0db1f8135f4c25b34de49ab0d42766

Liquidity Query:

https://etherscan.io/token/0xca14007eff0db1f8135f4c25b34de49ab0d42766

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