Starknet’s average TPS rose to 3.56, an impressive 180% jump from the previous week. The scale solution’s TVL rose to $79.24 million, up 10.6% on a week-to-week basis.
Layer-2 scaling solution Starknet [STRK] announced the launch of its highly anticipated v0.12.0 upgrade, a major step forward in the effort to scale the base layer, Ethereum [ETH]. This iteration, dubbed “Quantum Leap”, targeted a 10x higher transaction throughput.
We are pleased to announce that Starknet Quantum Leap part 1: v0.12.0 has been successfully deployed to the Mainnet.
This update is an important milestone in improving Ethereum’s capacity.
— Starknet 👉👈 (@Starknet) July 12, 2023
Read Ethereum’s [ETH] Price Forecast 2023-24
A giant leap for Starknet
Starknet has made a slew of improvements to its Sequencer to meet its scalability goals. This is because much of the throughput limit is determined by the performance of the sequencer.
For starters, the integration of Cairo has resulted in better execution of Cairo contracts, improving the user experience. Apart from this, the introduction of Blockifier reduced waiting times and reduced congestion on the network, which significantly helped in increasing the number of transactions processed per second (TPS).
In addition, Papyrus, the local storage solution, played a key role in managing the local state of the Sequencer.
The new upgrade also brought notable UX improvements, such as simplifying the transaction confirmation process. The `PENDING` status associated with the previous version has been replaced with “ACCEPTED_ON_L2”, which corresponds to a transaction completion message.
Changes were visible
The implementation of v0.12.0 resulted in significant improvements to Starknet’s capabilities. According to data from Starkscan, the average TPS rose to 3.56, an impressive 180% jump from the previous week and nearly 110% from three months ago.
Another notable observation was the sharp rise in maximum TPS numbers. On July 12, the peak TPS exploded to 54.33, up 1300% on a weekly basis. Compared to the last three months, it was an increase of 1100%.
New home for dApps?
Higher throughput can pave the way for more sophisticated decentralized applications (dApps) to be deployed on the network. On-chain gaming in particular could get a big boost as it is an industry looking for high transaction volume and lower fees.
Realistic or not, here is the market cap of ETH in terms of BTC
According to L2Beat, the total value locked (TVL) on Starknet rose to $79.24 million at the time of publication, representing a weekly increase of 10.6%.
Describing the long-term plan, the Starknet team stated that the next priority would be to significantly reduce transaction costs on the network.
This post All about Starknet’s ‘quantum leap’ to increase ETH scalability
was published first on https://ambcrypto.com/all-about-starknets-quantum-leap-to-boost-eth-scalability/