Starknet Roadmap Announced: Parallel Transactions Functionality Will Release In Q2

Key Points:

• The Starknet roadmap has now been announced, with priority given to reducing transaction fees on the Ethereum Layer 2 network.
• The introduction of parallel execution in v0.13.2 allows the simultaneous processing of transactions, boosting network efficiency.
• Future updates include further fee reduction efforts and data availability enhancements.

Starknet, a ZK-Rollup solution aimed at scaling decentralized applications, unveiled its 2024 roadmap today, focusing on augmenting throughput and slashing transaction fees on the Ethereum Layer 2 network.

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Starknet Roadmap Unveiled: Ambitious for Ethereum Layer 2 Scaling

According to the Starknet roadmap, the key among the updates is the integration of parallel execution in v0.13.2, slated for the second quarter. This feature will revolutionize transaction processing, allowing simultaneous execution of multiple transactions and replacing the current sequential execution model.

The forthcoming update in the second quarter will introduce parallel transaction functionality, enabling Starknet to process concurrent independent transactions, thereby boosting network throughput and expediting block finality.

Moreover, Starknet aims to further alleviate network fees with version 0.14.0, anticipated by year-end. The Starknet roadmap said that this update will prioritize three data availability-focused upgrades, depending on the ramifications of EIP-4844 and protocol enhancements.

Fee Reductions and Data Availability Enhancements

Volition will facilitate hybrid data availability on Starknet, while recursion will enable developers to batch store data storage proofs of multiple Starknet blocks onto Ethereum, curbing L1 costs and gas fees. Data availability compression, in development, will reduce Starknet’s data footprint on Ethereum.

Recent developments include Starknet’s support for EIP-4844, part of Ethereum’s Dencun upgrade, and the rollup protocol’s block size expansion and fee reduction by approximately 25% with Starknet v0.13.0 earlier this year. This led to a significant drop in average fees for a swap on Starknet, reported by wallet provider Argent to be as low as $0.04 post-Dencun upgrade.