A brief overview of Starknet - it’s Tech and Ecosystem
Introduction
StarkWare is the team behind StarkEx, Starknet, and Starks.StarkEx is a scaling solution for specific ETH applications, while Starknet is a general-purpose solution. Starknet is a zero-knowledge rollup (zk-R) scaling solution for ETH.
Its main distinction is its native language, Cairo, and its zk-Stark technology. Its goal is to reduce the time spent verifying transactions while maintaining ETH L1 security, resulting in low transaction fees and high throughput.
To ensure L1 security, it uses STARK technology. Starknet is not classified as a zkEVM because of its language. Cairo is the language used for Starknet contracts, designed to generate STARK proofs.
Now, let’s look at the role of zk-Starks in Starknet
Role of zk-Stark in Starknet
Computational integrity is a term I found out from @EliBenSasson, co-founder of zk-Stark and StarkWare.
It is to ensure an L2 computations/transactions can be verified in L1; i.e L2 computations can be verified as L1 computations. Cryptographic proofs help to verify these L2 txns in L1. In cryptographic proofs (zkps), two parties are involved: the prover and the verifier. A prover (zk-stark) will generate a proof for, say, 1 million transactions, for a verifier to verify.
More on zkps
zk-Starks help with privacy and scalability.
Privacy - the prover shields private information from the verifier and only reveals necessary information to the verifier.
Scalability - it scales 1 million transactions to a single proof and sends it to L1.
Other features of zk-Starks include:
Universality - it can be used to build any general computation.
Transparency - a computation can be verified by any party without relying on any external parameters or assumptions, enhancing security and privacy.
Battle-tested cryptography - post-quantum secure.
With the aid of its native technology, Cairo, and zk-Stark, millions of transactions are turned into single proofs, which are verified with a new state on ETH L1, resulting in higher throughput.
StarkNet ecosystem
Let's take a look at the current StarkNet ecosystem.
Wallet: To access the StarkNet ecosystem, you need the @argentHQ wallet, the first smart contract wallet in Web3 that uses the account abstraction technology (EIP-4337).
More info on this
Dapps: I'll highlight current dapps on StarkNet in five categories: DeFi, DAO, bridges, NFTs, and gaming.
Defi
@zkxprotocol - prep futures dex on Starknet
@zkLend - money market protocol on Starknet
@StarkDefi - the permissionless and trustless hub of defi solutions
@JediSwap - community-led, fully permissionless, and composable AMM
@yagi_fi - offers trustless vaults and automation infrastructure for Starknet devs, enabling asset growth
@SithSwap - a permissionless stableswap protocol with low slippage, variable fees, and an incentivized rewards system.
@rabbitx_io - prep derivatives suite, no fees, max leverage.
@nostrafinance - a non-custodial lending and borrowing protocol, eliminating the need for intermediaries
@Carbonable_io - generate real-world yield while fighting climate change.
@0xHashstack - a lending platform on Starknet, allowing crypto-native retail users to borrow up to 300% of their collateral without the need for over-collateralization
@FibrousFinance - a routing algorithm that explores prices across multiple AMMs, providing users with the best and cheapest token exchange rates on Starknet
Bridge
@Orbiter_Finance - a cross-rollup bridge for transferring Eth, with low cost and almost instant transfers
@layerswap - offers fast and cheap gas and off-ramp and off-ramp transactions from CEXs to L2s.
Nft
@PxlsWtf - an experimental on-chain platform where a 400-member community collaborates to create daily artworks by colorizing a 20x20 pixel grid.
@briqNFT - an NFT construction protocol based on fundamental elements called briqs, which can be assembled into an NFT and disassembled to reclaim the briqs and build something new, making them NFT building blocks.
@earlystarkers - the first non-freemint NFT collection of the Starknet.
@Starknet_id - an identity and naming service, mint a unique .stark domain
@MintSquareNFT - NFT market place on starknet
DAO
@matchbox_dao - a collective of devs, artists, and designers to build gaming infrastructure in starknet
@dolvenlabs - a DAO-based initiative providing early-stage investment and support to innovative projects on the Starknet Network
@CygnusDAO - enables stablecoin lending, margin trading, and LP token collateralization, with the aim of bringing profitability to liquidity providers and stablecoin holders
Gaming
@ZKasino_io - a decentralized casino enabling trustless play without KYC
@ninth_gg - a PlayFi Metaverse where LAND is the main digital asset that connects players, allowing them to interact and earn
@PlayRedline - a racing management game where players collect NFT parts and build robots to race on different terrains and weather conditions.
@LootRealms - an on-chain universe with multiple games featuring heroes, villains, magic, and monsters, all connected by a shared economy and resources.
@influenceth - an open-economy, space strategy MMO where players own all of their content, colonize asteroids, build infrastructure, discover technologies, engage in combat, and expand their influence across the belt
@AgeOfEykar - In a space colonization game, you lead a group of settlers who fled their home planet to build the most successful empire on the habitable planet of Eykar.
@ImperiumWars - a Conquer to Earn NFT game where five global empires ally, betray, and fight to reach glory and fortune.
@cartridge_gg - starknet gaming console
If you think I missed anyone, please suggest in the comments
In conclusion, Starknet is max building. Still early and a zk-R, the innovation is written.
Do you struggle to keep up with everything going on in the crypto markets?
Revelo Intel is a cutting edge research platform that covers 230 projects, chains and people across crypto.
Members benefit from:
Summary Notes - Analysts summarise the most important Podcasts, AMA's & Interviews. Over 12 new Notes published every day with over 800 in total.
Project Breakdowns - Deep dive 50+ page research reports on specific projects. 2 new breaks every week with 22 currently live.
Members Only Discord - Join the sharpest minds in DeFi and Revelo Analysts sharing ideas and research in the discord server everyday
NFT Bonus - for Annual & Lifetime members limited edition NFT's given which provide access to exclusive events and benefits
Serious DeFi power users become Revelo Intel members. Learn Faster & Invest Smarter - www.revelointel.com
