- Alchemy has launched Starknet, a decentralized layer-2 network for Ethereum.
- The network combines zero-knowledge cryptography and account abstraction.
- The launch of Starknet has created a bullish sentiment in the market.
Alchemy, the leading blockchain developer platform, has announced the public launch of the much-anticipated Starknet network. Additionally, this visionary network is set to revolutionize the blockchain space with its ZK-powered future.
1 YEAR AGO:
We announced our support of a visionary, new network to build a brighter, ZK-powered future together ⚡️
It’s public launch time, baby 🎉
Starknet and its native Account Abstraction are now fully available on Alchemy!
— Alchemy | The web3 developer platform (@AlchemyPlatform) May 4, 2023
Starknet empowers Ethereum to scale securely, providing an unlimited scale for transactions and computation for decentralized applications (dApps). Moreover, it does this by acting as a decentralized layer-2 network. The network has been in development for some time. However, it is fully integrated with Alchemy, enabling developers to easily build innovative decentralized applications.
Starknet is worth watching due to its advanced technology that combines two powerful technologies: zero-knowledge cryptography and account abstraction. Hence, this combination creates a network that is set to revolutionize the blockchain space. With its high level of innovation, Starknet creates the potential to transform the way decentralized applications are built and operated.
Starknet’s native account abstraction feature enables users to easily access blockchain smart contract wallets within the network. This is creating a user-friendly environment. Additionally, this feature streamlines the user experience by simplifying the interaction process with smart contracts and allowing for seamless wallet integration.
Developers Team Up for dApp Building
Integrating Alchemy with Starknet suggests that the development team seeks ways to build more using the abstraction account.
According to Gal Ron, a product manager and blockchain researcher at StarkWare said:
“Alchemy simplifies the process of building dApps, while Starknet offers the necessary scale and features.”
Furthermore, this implies that the developers are looking to leverage the strengths of both platforms to enhance their ability to build decentralized applications efficiently.
As per CoinMarketCap, the price of ACOIN, the native token of Alchemy, has surged by 6.77% in the last 24 hours, indicating a bullish sentiment in the market. The token is traded at $0.05056.