What is Starknet (STRK)?
Starknet is a Layer-2 network designed to expand Ethereum's transaction capacity without altering its foundational security. The network's native asset, STRK, is central to this ecosystem, functioning both as the unit for paying operational costs and as a tool for community-driven decision-making.
How Starknet scales transactions with STARK proofs
The network relies on STARK cryptography to bundle a large volume of off-chain transactions into a single, compact proof. This proof is then verified by a contract on the Ethereum mainnet, settling every included transaction at once. This approach preserves the security guarantees of Ethereum while dramatically increasing throughput. Developers can write applications using Cairo, a language built specifically for Starknet that makes the program logic itself provable, opening up possibilities for more complex and reliable decentralized applications.
What roles does the STRK token serve?
STRK is the required currency for paying transaction fees across the Starknet network. Beyond simple payments, holding STRK grants governance rights; users can lock their tokens to vote on protocol upgrades, fee structures, and other key decisions. The token also supports staking, allowing participants to contribute to network security and earn rewards tied to the network's activity.
The impact of native account abstraction
On Starknet, every account operates with the flexibility of a smart contract by default. This means wallets are not limited to a single signature scheme—they can include custom logic like daily spending limits, social recovery, or paying gas in a token other than STRK. For developers, this shifts the design space from working around protocol limitations to building user experiences that are both simpler and more secure.
