Starknet to Boost Transaction Speed 4X and Cut Fees 5X to $0.002 per Transaction in 3 Months, Says Eli Ben Sasson

Nov 18, 2024, 03:34 AM

Starknet, a Layer 2 scaling solution for Ethereum, is set to enhance its transaction processing speed by four times and reduce transaction fees by five times within the next three months, according to CEO Eli Ben Sasson. The improvements will be primarily achieved through upgrades to Cairo, Starknet's native smart contract language, which will enable better compilation and faster execution. Currently, Starknet averages a transaction fee of $0.002, positioning it to become one of the most cost-effective Layer 2 solutions in the Ethereum ecosystem with a projected transaction speed of over 1,000 transactions per second (TPS).