Starknet, a layer-2 scaling solution for Ethereum, has launched a significant update on its testnet, introducing a new parallel execution feature that aims to enhance transaction speed. The updated version 0.13.2 went live on August 21, with the mainnet release anticipated within the next few weeks.
The parallel execution feature allows for simultaneous processing of transactions, in contrast to the previous sequential model. This advancement is expected to increase Starknet’s transaction speed and overall capacity, enabling multiple transactions to be handled concurrently without waiting for individual completions.
“Before Starknet v0.13.2, transactions were executed one after another. With the new version, transactions are processed in parallel, significantly boosting performance for users and developers,” noted the Starknet team.
Despite this promising update, Starknet’s token experienced a 2.3% decrease in value, trading at $0.35, according to news.
StarkWare, the development team behind Starknet, announced its inaugural mainnet vote for STRK holders on August 20. This vote will focus on the implementation of staking mechanisms within the network, with a full rollout expected by October. A testnet for the phased staking introduction will commence in September, leading up to the mainnet launch in Q4 2024. The proposal also includes details on the minting mechanism and staking parameter adjustments, allowing the Starknet community to participate directly in these decisions.
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