Starknet Protocol Enhances Rollup Cost Efficiency After Ethereum’s Dencun Upgrade

Starknet, a layer-2 scaling protocol, is set to amplify the cost-saving benefits of rollups following Ethereum’s upcoming hard fork, Dencun, scheduled for March 13.

The Starknet Foundation has revealed plans to implement additional fee-saving strategies on its protocol in conjunction with the Dencun upgrade. This hard fork represents a significant milestone for Ethereum, marking one of the most substantial protocol upgrades since transitioning to proof-of-stake consensus in October 2022.

Dencun introduces Ethereum Improvement Proposal (EIP-4844), which revolutionizes how data is stored on the mainnet for Ethereum rollups. Rollups, a type of layer-2 solution, process transactions off-chain and provide a summarized proof of these transactions to the Ethereum blockchain.

EIP-4844 introduces a novel approach for rollups to include cost-effective data in blocks by introducing blob space as an alternative to call data for storage. This change aims to reduce expenses associated with storing cryptographic proofs of off-chain transactions, as all Ethereum nodes are required to process this data indefinitely.

Proto-danksharding, inspired by the creators of EIP-4844, enables rollups to append data blobs to blocks. This data is not accessible to the Ethereum Virtual Machine and is automatically deleted after 18 days, offering enhanced cost efficiency.

Starknet anticipates an immediate reduction in fees as a result of these changes. While developers expect a short delay as rollups transition to utilizing blob space, the benefits of reduced fees are poised to make a significant impact.

Starknet’s upcoming hard fork, version 0.13.1, will shift from the costly call data method to the more economical blob transaction type, resulting in substantial fee reductions. The protocol stands to gain significantly, with call data currently accounting for the majority of gas fees associated with posting transactions to the Ethereum mainnet.

Ilia Volokh, StarkWare product manager and blockchain researcher, highlights the efficiency gains associated with the shift to blob space. Starknet’s shared prover will transition to utilizing blob space, offering improved cost-effectiveness and scalability for the protocol.

With the implementation of Dencun, Starknet users can expect to see immediate benefits, with fees adjusted to align with Ethereum’s blob prices. The protocol’s innovative approach to transaction processing, including recursive proof technology and enhanced transaction batching, will further enhance efficiency and cost savings.

As the cryptocurrency landscape continues to evolve, Starknet’s commitment to enhancing cost efficiency and scalability through the Dencun upgrade underscores its position as a leading layer-2 protocol within the Ethereum ecosystem.

For more insights and updates on the latest developments in the cryptocurrency space, be sure to explore Global Crypto News.

Post Views: 5