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Demand for app chains
StarkWare, which develops a scaling solution for cryptocurrency Ethereum (ETH), announced on the 19th that it will be possible to create a blockchain specialized for an application by utilizing the company’s permissionless L2 “Starknet” technology.
With this new technology, developers will be able to introduce their own fee models and consensus mechanisms, and incorporate features into their apps that are not yet available on Starknet’s public chain.
We are incredibly excited to introduce Starknet Appchains!
Starknet is emerging as one of the most performant and innovative scaling platforms out there. pic.twitter.com/OB8exT29lw
— Starknet 
(@Starknet) July 19, 2023
What is L2
Abbreviation for “Layer 2”, which is the “second layer” of the network. Processing all transactions on the main chain would increase the load, leading to slower processing speeds and higher network fees. By performing part of the transaction in L2, we can expect to reduce the load on the main chain and improve the processing speed.
Cryptocurrency Glossary
connection: What is Blockchain Layer 2?
Starknet itself is already running, and developers can still build apps on Starknet. You can create apps on Starknet, the L2 of Ethereum, to lower your gas bills, or use the account abstraction feature.
connection: Mr. Vitalik points out the problem of AA wallet = EthCC
Developers, on the other hand, may wish to add their own functionality to the app. To meet this demand, StarkWare explained that it is developing tools that can be used to build its own chains. In addition, it is possible to further increase the processing power, which has the advantage of improving the user experience.
The first chain dedicated to Starknet apps will soon launch in beta on the mainnet. He explained that at this stage it will not be open to the public, and that it will initially launch a closed version with limited usage.
connection: Ethereum L2 “Starknet”, voting begins for next week’s upgrade implementation
Other project trends
In its announcement, StarkWare noted that the need for app-specific blockchains has grown over the past few years. In fact, projects such as Polygon (MATIC) and Arbitrum (ARB) are developing similar technology in the Ethereum ecosystem.
In April last year, Polygon announced Polygon Supernets, an application-specific blockchain construction tool. This is a solution derived from Polygon Edge, a customizable blockchain construction tool.
connection: Polygon establishes a support fund of 12 billion yen for “Supernets” to build individual blockchains
Also, in June this year, Offchain Labs, which develops Arbitrum, announced that it has released a tool that can be used to develop the Orbit chain. Orbit Chain is a blockchain tailored to the needs of each developer, and this tool will make it easier than ever to create an Orbit Chain.
connection: Ethereum L2 “Arbitrum” Releases Tools for Orbit Chain Developers
The post Ethereum L2 “Starknet” to provide application-specific blockchain development tools appeared first on Our Bitcoin News.
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