Starknet Achieves 503 TPS on Mainnet, Eyes $100M Stablecoins

Sep 28, 2024, 04:54 PM

Starknet, a Layer 2 scaling solution for Ethereum, has achieved significant milestones in transaction speed and cost efficiency. Recent data shows that Starknet has reached a peak of 503 transactions per second (TPS) on its mainnet, demonstrating its capability to handle high volumes of transactions. The platform's low transaction costs, with some as low as $0.005 per transaction, have facilitated large-scale art projects like the Art/Peace competition, where over 26,000 pixels were placed across 8,000 transactions. Starknet's performance improvements and cost-effectiveness are drawing attention within the Ethereum ecosystem, positioning it as a strong contender among Layer 2 solutions. Additionally, Starknet is eyeing up to be the next Layer 2 solution with over $100 million in stablecoins, further contributing to the Ethereum Pie.