Starknet, a prominent Layer-2 scaling protocol, is set to enhance the benefits of reduced costs for rollups following the Dencun hard fork on Ethereum, scheduled for March 13.
The Starknet Foundation has unveiled plans for additional fee-reduction measures that will align with the Dencun upgrade, marking a significant evolution in Ethereum’s infrastructure since its transition to proof-of-stake in October 2022.
The Dencun upgrade, featuring the Ethereum Improvement Proposal (EIP-4844), is poised to revolutionize the way Ethereum rollups store data on the mainnet.
It introduces “blob space” as an alternative to the traditional use of call data for storage, addressing the high costs associated with the latter due to the perpetual on-chain processing requirement by all Ethereum nodes.
This new approach, known as proto-danksharding and inspired by its proposers, allows for more economical data storage in blocks without permanent accessibility or processing by the Ethereum Virtual Machine, with data automatically expiring after 18 days.
David Silverman, Vice President of Product at Polygon Labs, has emphasized the significant cost advantages and maintained security guarantees of this method for rollups.
READ MORE: Arbitrum to Release $2.32 Billion in Vested Tokens, Sparking Market Speculation
As Starknet anticipates immediate fee reductions, there may be initial delays as layer-2 solutions adjust their contracts to utilize the new blob space.
In line with the Dencun hard fork, Starknet is preparing to release version 0.13.1, transitioning from the costly call data method to blobs for data transactions, promising substantial fee savings, given call data’s dominant role in Starknet’s gas expenditures.
Ilia Volokh, a StarkWare product manager and blockchain researcher, explained that Starknet’s SHARP prover, responsible for transmitting state differences to Ethereum, will adopt blob space, leading to a prompt reflection of fee reductions post-Dencun’s launch.
Volokh highlighted the immediate impact on users, stating, “A byte of data will be priced in accordance with Ethereum’s blob prices.”
Further boosting Starknet’s efficiency, a new hash system to be introduced in early 2024 will enhance the protocol’s transaction capacity through improved proof bundling technology.
This development underscores Starknet’s commitment to leveraging Ethereum’s evolving ecosystem to deliver cost-effective, scalable solutions.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
