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    StarkWare’s Starknet to quadruple speed and slash costs significantly as upgrades enhance Cairo smart contract language

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    StarkWare CEO, Eli Ben Sasson, has predicted that his company’s Ethereum layer 2 platform, Starknet, will quadruple its speed within three months. The cost of running the platform will also reportedly decrease to a fifth of its current price. These improvements are primarily due to enhancements in Cairo, Starknet’s native smart contract language. Starknet aims to process over 1,000 transactions per second (TPS). Moreover, StarkWare plans to implement an upgrade that will enable Starknet to operate natively on both Bitcoin and Ethereum within the year.

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    StarkWare CEO, Eli Ben Sasson, is betting that his company’s Ethereum layer 2 platform, Starknet, will run four times faster in the next three months. It’s expected to cost only a fifth of what it does now too.

    Most of the platform’s improvements come from better and faster running of Cairo, Starknet’s native smart contract language. This was revealed at the DevCon 2024 event held in Bangkok last week.

    Starknet aims to process over 1000 transactions per second (TPS), putting it in the same league as Solana, which typically processes between 800 to 1050 non-vote TPS.

    Starknet’s transaction cost is already low and will swiftly drop even further, Ben Sasson assures. He says that the company is making reducing costs a priority, as they expect blockchain activity and gas prices to surge within the next little while.

    Although Starknet can process over 200 TPS at some moments, it’s previously achieved an average to the tune of 129 TPS on some records. However, they have reached a high of 857 TPS during stress tests.

    At the moment, it only costs around $0.002 per transaction on Starknet – pretty sweet, right?

    Over the past month, Starknet has been the third cheapest Ethereum layer 2 processor, with only Optimism and Blast having lower costs of $0.0013 and $0.002 respectively. All three Ethereum layer 2s have been cheaper than Solana in the past 30 days. Solana’s average non-vote transaction fee has fluctuated between $0.001 and $0.11 over the last two months.

    StarkWare is also planning on bringing OP_CAT, an improvement proposal, over to Bitcoin. If successful, Starknet will be the first layer 2 to operate natively on both Bitcoin and Ethereum. Ben Sasson hopes to launch this upgrade within the next year.

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