$BTC 🚀 What is StarkNet?

• StarkNet is a Layer 2 protocol built on ZK-Rollups (Zero-Knowledge Rollups) technology.

• Its goal is to significantly speed up Ethereum transactions and reduce gas fees while maintaining network security.

• It is characterized by being more secure and efficient compared to some other Layer 2 solutions like Optimistic Rollups.

⸻

StarkNet Token:

• So far, StarkNet is in the experimental launch stages and has not released a governance token or main official token (as of my last information date).

• The project is expected to launch its own token in the future, which will be used for governance, fee payment, and incentivizing network participants.

⸻

Why is StarkNet important?

• ZK-Rollups technology allows for proving transactions in an encrypted manner without the need to replicate the entire operation on the Ethereum chain.

• This significantly reduces transaction costs and increases speed.

• It is used by DeFi and NFT projects to enhance the user experience.