By Brenda Collins
Following a big upgrade of Starknet, a layer two scalability solution, the Ethereum network is expected to experience a significant boost in its Transactions Per Second (TPS). This improvement, known as the “Quantum Leap,” will revolutionize transaction processing on the network and become faster and more efficient.
The basic codebase of Starknet has been completely rewritten with the release of version 0.12.0, adding improved transaction processing capabilities. With this enhancement, Starknet can now process transactions at a faster rate, resolving one of the Ethereum network’s long-standing problems.
Available information shows that the update will start with version 0.13.0; the next stages of the Starknet update will concentrate on lowering the gas costs related to Ethereum transactions. A survey from U.Today has it that Ethereum has expressed serious concerns about gas costs, especially when the network is congested.
Users will benefit from the lower gas costs, encouraging more developers to use the Ethereum network for various applications. The network has surpassed a remarkable threshold of 37 TPS, demonstrating the enormous advancement made with the Starknet upgrade.
Vladislav Sopov, a freelance cryptocurrency analyst, while commenting on this development, said that Decentralized Applications (dApps), Decentralized Finance (DeFi), and other use cases that depend on quick and efficient transactions now have new opportunities to increase their transaction processing speed. While reviewing the performance of the upgrade, a social media cryptocurrency influencer and an Ethereum user, DeFi Saint, recently discussed his experience with the improved network.
On his social media page, he noted the speed of the latest Starknet upgrade by stating that his Ethereum transactions were completed in less than 15 seconds. Such quick confirmation times for transactions will draw more people to the Ethereum network, making it more appealing and usable.
Experts Assess Starknet Update Future, Perceive Positive Prospect
Another industry expert, Ezra Reguerra with Cointelegraph, explained the latest Starknet update is a significant development in Ethereum’s quest for scalability and a solution to the problems brought on by rising network demand and congestion.
The Ethereum 2.0 upgrade, which is eagerly awaited and promises to improve the network’s scalability and security, is consistent with Ethereum’s larger goals for transitioning to Quantum Leap. The Ethereum ecosystem is predicted to see a spike in activity and innovation as the improved Starknet has continued to gain greater popularity and more developers have adopted it for their projects. The Quantum Leap, Starknet is expected to increase TPS for the Ethereum network considerably.
The ongoing debates on this latest innovation emphasize that with reduced gas fees in the future and the potential to execute transactions at an impressive benchmark of 37 TPS, Ethereum is poised to draw more users and promote innovation in the decentralized ecosystem.
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