Starknet (STRK)
- Official Website: starknet.io
- Definition: Starknet is a Layer 2 scaling solution for Ethereum, using zk-rollups to improve scalability and reduce fees.
- Category: Layer 2 chain, Token.
- What It Is: A platform for fast, low-cost transactions on Ethereum.
- Function: Enables scalable and efficient transactions for dApps and DeFi.
- Analogy: Think of Starknet as a high-speed elevator. It moves transactions quickly and efficiently on Ethereum.
- Pros: Scalability, low fees, Ethereum compatibility.
- Cons: Complexity, competition from other Layer 2 solutions.
- Controversies: Centralization concerns, reliance on Ethereum.
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This page was last updated on January 28, 2025.
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