Starknet

About Starknet

StarkNet is a permissionless decentralized Layer 2 (L2) validity rollup designed to scale Ethereum using STARK cryptographic proofs, preserving Ethereum's core principles of decentralization, transparency, inclusivity, and security. The STRK token is used for governance, paying transaction fees on StarkNet, and participating in its consensus mechanism.

• StarkNet uses STARKs (Scalable Transparent Arguments of Knowledge) for cryptographic proofs, which are quantum-resistant and do not require a trusted setup.
• The STRK token is required for governance, transaction fees, and consensus participation on StarkNet.
• StarkNet is categorized under multiple ecosystems including Ethereum, Solana, and Bitcoin sidechains, reflecting its broad interoperability goals.
• It is backed by prominent venture capital firms such as Paradigm, Coinbase Ventures, Multicoin Capital, and Sequoia Capital.
• StarkNet is listed in the GMCI Layer 2 Index, indicating its significance in the L2 scaling space.