In the landscape of Layer 2 solutions and rollups, Starknet has been steadily gaining popularity over the past few weeks. Outshining its competitors such as zkSync Era in terms of active addresses, Starknet recently unveiled its latest network update, aptly named Starknet v0.12.1, on August 21. This update brought several new features to the table, enhancing the overall efficiency of the rollup.
Breaking Down the Starknet Update
Known as the Starknet Quantum Leap, the v0.12.1 update launched on Mainnet with the aim of boosting transaction efficiency. A few key changes were made to this end:
- The addition of a validation stage prior to sequencing, filtering out invalid transactions earlier on in the process.
- Failed transactions now have a “reverted” status and are included in the block, accruing fees.
- Other notable features such as mempool validation and Keccak built-in were also introduced.
While Starknet releases new update, other rollups such as Polygon zkEVM and zkSync Era also continued to evolve and grow.
Starknet’s Performance Post-Update
Following the update, Starknet’s Total Value Locked (TVL) saw a resurgence after a period of decline. Despite a dip in active addresses and daily transactions post-August 19, the rollup managed to regain momentum.
Competitor Rollups Gear Up
Starknet wasn’t the only rollup making strides. zkEVM celebrated a milestone as its total deposits surpassed the $115 million mark. Additionally, zkEVM’s total unique addresses crossed the 400k threshold a few days after it marked five months of deployment. zkSync Era wasn’t far behind, outperforming Ethereum [ETH], Arbitrum One, Optimism [OP], and other rollups in a crucial metric.
Despite the competitive landscape, Starknet managed to outdo zkSync in terms of active addresses on July 28, 2023, and also surpassed zkEVM in terms of TVL, signaling Starknet’s growth. In fact, Starknet held its own against top L2s like Optimism and Arbitrum, as shown by the closely knit daily active addresses graph.
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