What is Starknet Coin? What are the characteristics of Starknet coin?

StarkNet: Scalable Layer 2 Solution

StarkNet is a Layer 2 scalability solution developed based on StarkWare, aiming to solve the congestion of the Ethereum network and high gas charges.

Features:

• Scalability: StarkNet uses zero-knowledge proof technology to transfer the calculation volume of transactions from the Ethereum mainnet to Layer 2, greatly improving transaction throughput.
• Low gas fees: Since transactions are processed on Layer 2, StarkNet’s gas fees are much lower than those on the Ethereum mainnet.
• Security: StarkNet inherits the security of Ethereum, and transactions are verified on the main network through zero-knowledge proofs.
• Versatility: StarkNet is compatible with the Ethereum Virtual Machine (EVM), which means developers can build applications on StarkNet using familiar tools and languages.
• Privacy: StarkNet provides optional privacy features that allow users to conduct transactions without revealing transaction details.

Application scenarios:

StarkNet can be used in various application scenarios that require scalability and low cost, including:

• Decentralized Finance ( DeFi)
• Game
• Social Media
• Supply Chain Management
• Data Storage

Prospects:

As a highly anticipated Ethereum Layer 2 solution, StarkNet shows great potential in the Ethereum ecosystem. It is expected to effectively deal with the performance bottleneck of the Ethereum main network and provide a more solid foundation for the large-scale application of blockchain technology.

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