The scaling systems of blockchain, the Ethereum scaling mechanism and core cryptographic digital platform that StarkWare plans to open source are part of the company's recent accomplishment of reaching a valuation of $8 billion.
The news came out (1) during the StarkWare Sessions 2023 event over two days in Tel Aviv, Israel.
A system that addresses Ethereum's scalability difficulties, such as low throughput or excessive gas prices, has been developed by a company called StarkWare in Israel.
The business now operates on two different platforms. The first is called StarkEx and is a scaling engine. The second one is called StarkNet, and it puts technology right in the hands of developers so that they may create decentralized apps (DApps).
According to the most recent information, StarkWare intends to make the STARK Prover technology, which is responsible for powering these two platforms, freely available to the public. The StarkNet, based on the ZK-STARKs technology, is the Layer-2 scaling solution that has gained widespread adoption for Ethereum.
Similarly, the Stark Prover is responsible for generating cryptographic proofs to reduce the size of transactions and increase the general scalability. Eli Ben-Sasson, co-founder and President of StarkWare, had the following comment about the recent development:
"And the faster and more widely they create, the sooner we will see mass enrollment in systems that genuinely let individuals manage their own money.
Therefore, there is a causal relationship between crucial open-sourcing technology and the rise in self-custody popularity. As a result, scaling Ethereum and cryptography will take a giant leap forward, and STARK technology will become a resource that is open to the public.
Advantages of Utilizing StarkNet Prover
As the StarkNet Prover system transitions to an open-source model, more people will have access to the source code for evaluation. In the long run, this will assist in the detection of flaws and will promote transparency.
According to the team at StarkWare, this initiative is a constructive step towards a broader decentralization of StarkNet and should be supported.
In November 2021, StarkWare introduced the StarkNet solution, which was deployed on the Ethereum mainnet. Since then, the StarkWare team has gradually opened up the source code for several components of the StarkNet stack.
These components include the StarkNet sequencer, the client software Papyrus, and Cairo 1.0 scripting language. The open-source release of the StarkNet software stack is now complete due to this most recent move.
Because of this move, StarkWare will be more easily accessible to developers, and community members will be able to work together more effectively. Ben-Sasson remarked that the STARK team considers the Prover the technological equivalent of a magic wand.
"They should be fully aware of how everything operates, be able to make changes to the code, amend the code, and then disseminate it further."