Starknet 2024 Roadmap Promises Faster Transactions With New Features

Key Points:

• Starknet 2024 roadmap prioritizes speed and fee reductions with “Parallel Execution”.
• Q3/2024 sees Nethermind collaboration to boost throughput.
• Q4/2024 update targets further fee cuts via new data storage strategies.

Starknet 2024 roadmap focuses on speed and reduced fees. Key features include Parallel Execution, a collaboration with Nethermind, and strategies to minimize data footprint.

Starknet, a ZK-Rollup solution for decentralized applications (dApps), has announced its 2024 development roadmap. The core focus is to improve speed and reduce transaction fees on the network.

The “Parallel Execution” feature, expected to be launched in Q2/2024 with Starknet version v0.13.2, is a major highlight.

Starknet 2024 Roadmap Revealed: Parallel Execution Takes Center Stage

The feature allows transactions to be executed simultaneously, overcoming limitations from Sequential Execution used by Ethereum and many EVM blockchains.

Additionally, Parallel Execution can enhance scalability, improve transaction speed, and lower transaction fees while maintaining high compatibility with EVM.

Q3/2024 will see the launch of version v0.13.3, featuring a collaboration with blockchain research company Nethermind to integrate Cairo Native into Starknet’s sequencer, expected to speed up transaction execution, reduce latency, and increase throughput.

In Q4/2024, the launch of version v0.14.0 aims to further reduce transaction fees through three strategies: introducing Volition for hybrid data storage, deploying “applicative recursion” to consolidate data storage proofs, and exploring data availability to minimize Starknet’s data footprint on Ethereum.

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Version v0.14.0: Strategies for Reducing Transaction Fees

The roadmap announcement follows the successful deployment of “blobs”, a new layer-2 data storage mechanism, which led to a significant reduction in network transaction fees.

Starknet is currently the fifth largest network in terms of total locked value (TVL), leading among Layer-2s referred to as “ZK Rollups”. The STRK price has seen a nearly 20% increase in the past 24 hours due to overall market adjustments.