Coinspeaker
Starknet Launches Parallel Execution to Speed Up Transactions on Layer 2 Blockchain
Starknet, an Ethereum Layer 2 scaling solution, has enhanced its ability to process transactions by introducing parallel execution. This new feature, part of the v0.13.2 upgrade, enables the network to handle several transactions at the same time, which increases both efficiency and scalability.
Starknet Transforms into Megastore Network
Previously, Starknet’s sequencer, the component responsible for organizing and batching transactions, processed transactions sequentially, akin to a single checkout line in a grocery store. This approach limited the network’s capacity, potentially leading to bottlenecks during periods of high demand.
“L2s today are like minimarkets with a single checkout, as our sequencers can only handle one transaction at a time,” explained Eli Ben-Sasson, CEO of StarkWare and board member at the Starknet Foundation. “We’re becoming the first ‘megastore L2’ – overhauling our sequencer so that numerous checkout lanes simultaneously handle countless transactions.”
The introduction of parallel execution effectively removes this bottleneck, allowing the network to process a greater volume of transactions at once. The higher volume paves the way for the network to accommodate a wider range of decentralized applications (dApps) and potentially attract more users.
Starknet Speeds Up amidst DAU Decline
Starknet’s v0.13.2 upgrade does more than just enable parallel execution. It also includes a feature called “block packing”, which aims to optimize the use of block space. By efficiently organizing transactions within each block, Starknet can enhance its overall efficiency and potentially lower transaction costs.
Together, parallel execution and block packing are expected to speed up transaction confirmation times on Starknet significantly. Developers predict that these times will decrease from the current 10-80 seconds to just 2 seconds, making Starknet a more appealing choice for developers creating decentralized applications that require quick and efficient transactions.
However, while the v0.13.2 upgrade marks substantial progress for Starknet, the network has recently faced challenges. The number of DAUs has fallen by nearly 90%, from around 60,000 at the start of 2024 to about 6,000 currently. Daily transaction volumes have also seen a notable decline.
Starknet is also up against competition from other Layer 2 scaling solutions, like zkSync. While zkSync has also experienced a drop in active addresses, some newer networks, such as Linea and Scroll, have seen growth in this area during the same period.
Starknet Launches Parallel Execution to Speed Up Transactions on Layer 2 Blockchain
