Ethereum layer-2 scaling solution Starknet has introduced its parallel execution feature on testnet, with a mainnet launch expected in a few weeks.

Starknet, a layer-2 blockchain operating on top of the Ethereum network, has released a testnet update aimed at speeding up transaction execution.

In an announcement on Aug. 21, Starknet stated that version 0.13.2 is now live on testnet, with the mainnet rollout anticipated within a week.

Starknet v0.13.2 is live on Testnet and coming in a week on Mainnet ⚡

Why This Matters

Parallel Execution

Currently, Starknet and most blockchains process transactions sequentially, meaning each transaction is handled one by one. The latest update introduces a new feature called “parallel execution,” allowing transactions to be processed simultaneously. This means Starknet can now execute multiple transactions at the same time, significantly enhancing speed and capacity for users and developers.

“Before Starknet v0.13.2, each of these transactions were executed one after the other. With v0.13.2, they’re processed in parallel, boosting Starknet’s speed and capacity.”

Despite this development, Starknet (STRK) saw a decline, trading down 2.3% at $0.35, according to recent data.

Upcoming Enhancements

This update is part of a broader effort to enhance Starknet’s ecosystem. On Aug. 20, StarkWare, the developer behind Starknet, announced its first mainnet vote for STRK holders. This vote focuses on introducing staking to the network, with a full launch expected by October.

The phased staking rollout will start with a testnet in September, followed by the mainnet launch in Q4 2024. The proposal also details the minting mechanism and the protocol for adjusting staking parameters, allowing the Starknet community to have a direct say in these decisions.

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