Starknet (STRK) available on BCM!

May 22, 2024

StarkNet, a Layer 2 scaling solution developed by StarkWare, is now available on the BCM trading platform.

What makes StarkNet unique?

StarkNet is designed to address some of the biggest challenges of the Ethereum network, such as high transaction costs (gas fees) and low throughputs. By using Zero-Knowledge Rollups (ZK-Rollups) technology, StarkNet improves the scalability, privacy and efficiency of transactions on Ethereum without compromising security.

Key features of StarkNet:

  • Scalability: StarkNet significantly increases Ethereum's transaction capacity by aggregating multiple transactions into a single transaction. This reduces the load on the Ethereum mainnet, resulting in higher transaction speeds and lower gas cost per transaction.
  • Security: Thanks to the use of Zero-Knowledge Proofs (ZKPs), and more specifically STARKs (Scalable Transparent ARguments of Knowledge), StarkNet provides a high level of privacy and security for transactions.
  • Decentralization: As a Layer 2 solution built on Ethereum, StarkNet inherits the decentralization and security features of the Ethereum network while providing additional capabilities and efficiencies.
  • Composability: StarkNet supports smart contracts, allowing developers to build complex decentralized applications (dApps) with improved performance. These dApps can interact with each other in a manner similar to how they do on the Ethereum mainnet.
  • Permissionless: Anyone can develop and deploy smart contracts on StarkNet, use the applications and participate in the network, preserving the decentralized nature of blockchain technology.

How does StarkNet work?

StarkNet processes a large number of transactions off-chain by aggregating them into a single proof, which is then submitted to the Ethereum mainnet. This process allows users and developers to enjoy faster and cheaper transactions without sacrificing the decentralized and secure nature of Ethereum.

Why StarkNet at BCM?

By including StarkNet in our offering, we offer our users the opportunity to participate in this advanced scaling solution, which has the potential to fundamentally change the way we interact with blockchain technology. Whether you're interested in simple token transfers or complex DeFi protocols, StarkNet offers enhanced scalability and efficiency for a wide range of applications.