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Layer 2 Starknet Roadmap Will Focus on Reducing Transaction Fees

Key Points:

Starknet roadmap is focusing on reducing network fees with upgrades planned through 2025.
Phase 1 of STRK staking will begin in November 2024, and the v0.13.4 upgrade will be deployed next year.

Ethereum Layer 2 solution Starknet announced its latest roadmap, which focuses on strategies to lower the cost and achieve network decentralization as demand for Ethereum blob transactions goes up.

Focus of New Starknet Roadmap: Reduced Network Fees and Greater Scalability

In a bid to cut down the costs of users, with a number of key upgrades planned through 2025, Starknet is pivoting its near-term priorities.

The first important milestone, according to the Starknet roadmap, is STRK staking in November 2024. STRK staking will further help completely decentralize Starknet, increase the utilization of STRK tokens, and unlock more business use cases built on top of the network.

As described in the Starknet roadmap, other efforts are focused on reducing these costs. In December 2024, Starknet plans a v0.13.3 update which will introduce “stateless compression” and “squash-pricing” to reduce transaction fees through the compression of data processing.

Continuing at this rate, in February 2025, Starknet will deploy v0.13.4. It will implement “stateful compression” in that version to improve developer experience and unlock features such as try/catch mode. Secondly, Layer 2 gas would be a protocol-level resource that would handle native computing, storage, and bandwidth independently, rather than the Layer 1 market of Ethereum.

Ethereum’s Dencun Upgrade Drives Major Fee Reductions on Starknet

Further along the road, in April 2025, Starknet will be upgraded to v0.14.0, promising to bring efficiency to the network with block times reduced to as low as 2 seconds, among other benefits, such as open market memory pools.

Earlier this year, in 2024, proto-danksharding or EIP-4844 from Ethereum’s Dencun upgrade, was implemented on the Starknet platform. This change has contributed to considerable cost savings thus far.

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Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.