STRK (StarkNet) Project Analysis
1. Research Institute Comments:
StarkNet is a mature platform, with over 50 million StarkEx transactions settled on public and private Ethereum test nets before deployment on the mainnet. StarkWare is one of the leading companies in the zk rollups space, with products like StarkEX and StarkNet. The team consists of over 80 members, with notable core members such as Eli Ben-Sasson, the founding scientist of Zcash and inventor of zkSNARKs, who has deep research and influence in the ZK-Rollup field. Currently, StarkWare is valued at $8 billion, with top-tier VCs and individuals like Paradigm, Pantera, Polychain, and Vitalik Buterin being stakeholders.
2. Recent Breakout Points:
The ZK-Rollup series, particularly Ethereum Foundation's public support for StarkWare utilizing starks, with a $12 million grant to StarkWare. This is one of the reasons why the industry is optimistic about StarkNet's future development and legitimacy. Top-tier longstanding projects have joined StarkNet's on-chain ecosystem, and institutional investors like Paradigm, known for generous airdrops, have also invested.
3. Project Introduction:
StarkNet is a permissionless decentralized Validity-Rollup (also known as "ZK-Rollup"). Operating as an L2 network on Ethereum, it allows any dApp to achieve unlimited computational scalability without compromising Ethereum's composability and security, thanks to StarkNet relying on the most secure and scalable networks. StarkWare addresses the two most pressing issues of permissionless blockchains: scalability and privacy. StarkWare's cryptographic proofs are zero-knowledge, succinct, transparent, and post-quantum secure.
4. Token Utility:
StarkNet announced the deployment of its native token $STRK on the Ethereum mainnet on November 16, 2022, used for voting, staking, and fee payments.
5. Tokenomics:
17% allocated to StarkWare investors; 32.9% allocated to core contributors, including StarkWare and its employees and advisors, as well as StarkNet software development partners; 50.1% granted by StarkWare for foundation distribution.
6. Project Highlights:
1. Transparency: ZK-STARK operates without the need for a trusted setup of a Common Reference String (CRS). Instead, it utilizes publicly verifiable randomness to establish interaction between the prover and verifier. This approach reduces user trust assumptions and enhances the security of protocols based on STARKs by using randomness that can be publicly verified.
2.Scalability: STARKs possess logarithmic compression properties for verification, enabling faster verification speeds. Specifically, when proving a proposition requires time T, the time required to verify the proof is only log(T). This feature allows STARKs to achieve scalability by implementing low-cost recursion and reducing latency for large-scale composite propositions. STARKs can handle large-scale computations efficiently while maintaining scalability.
3. StarkEx is a Layer2 scaling engine that provides technical services for decentralized applications (dApps). It enables dApps
7. Investment Institutions:
To date, it has completed a total of $282 million in funding through over 5 rounds, including: a $6 million seed round led by Pantera Capital, a $12 million grant from the Ethereum Foundation in 2018, a $30 million Series A led by Sequoia Capital, a $75 million Series B with participation from Paradigm, a $50 million Series C led by Sequoia Capital, a $100 million Series D led by Greenoaks Capital, and a $9.5 million round led by Alameda Research.
8. Community:
303,000 followers on Twitter, with a Discord chat group of 245,000 members, indicating high community engagement.
9. Special Economic Models:
None
10. Future Outlook:
The crypto industry bull market in 2021 saw the explosion of new public chains, and Layer2 Summer is eagerly anticipated by all users. With the success of Optimism and Arbitrum, the remaining two dominant projects in Layer2, zkSync and StarkNet, need to show more sincerity to seize the market. Competition between projects and the wealth effect brought by users' FOMO have made Layer2 Summer imminent. StarkNet's ecosystem is much richer than zkSync's, and the service fees collected by Starkware are already sufficient to make it profitable. StarkNet proposes a solution to move data availability to off-chain storage, called Validium, where only the hash value of the verified state is stored on-chain. Data availability is stored by the Data Availability Committee (DAC), composed of a statutory number of independent members responsible for supervising state updates and retaining copies of processed data. When users want to withdraw Layer2 funds in a new state, DAC signatures are required to provide specific ledger information. Validium can significantly reduce Rollup costs, but sacrifices decentralization, making it suitable for data availability in non-critical transactions.
Basic Information
Project Introduction: StarkWare, the parent company of StarkNet, was founded in 2018 and is headquartered in Israel. Its two main products are the scalability engine StarkEx and the general-purpose ZK-Rollup StarkNet, both built on the Ethereum mainnet. The StarkWare technical team has over ten years of research and engineering experience in the ZKP field. In 2018, they pioneered the use of STARKs for scalability on Ethereum, unlocking massive scalability.
Token Full Name: StarkNet
Token Name: STRK
Project Website: https://www.starknet.io/en/
Project Documentation: https://docs.starkware.co/starkex/index.html
Block Explorer: https://etherscan.io/address/0xca14007eff0db1f8135f4c25b34de49ab0d42766
Liquidity Query: https://etherscan.io/token/0xca14007eff0db1f8135f4c25b34de49ab0d42766
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CoinW Institute
2024/2/20