Overview
Starknet is a permissionless Validity-Rollup, or zero-knowledge rollup (ZK rollup), designed for Ethereum. As a Layer 2 blockchain, it allows dApps to scale extensively in computation while maintaining Ethereum's composability and security.
It focuses on delivering secure, low-cost transactions and high performance through the STARK cryptographic proof system. Starknet's infrastructure (including its contracts and operating system) utilizes Cairo; a specialized programming language developed specifically for this platform.
$STRK Token Uses:
- Transaction Fees: Initially, Starknet transaction fees were exclusively in ETH. Since version 0.13.0, these fees can also be paid with STRK, alongside ETH.
- Staking: Essential for the network's security and functionality, certain Starknet services will require STRK staking. Potential services include sequencing, achieving temporary L2 consensus, STARK-proving and data availability among others. These services, critical for network integrity, are under discussion within the governance community.
- Governance: Starknet improvements may necessitate minimal token support for proposal consideration. Voting, directly or via delegation, is crucial for protocol changes fundamental to Starknet’s operation, security and maintenance. Significant updates, such as those to the Starknet Operating System, require token holder approval.
STRK token is now Claimable for selected parties
This airdrop focused on Community Provisions, allocating 9% of the total STRK token supply ( over 700 million tokens ) to individuals who contributed to Starknet's development or utilized StarkEx L2 systems before June 1st 2022. This allocation is based on historically verifiable work and represents the claimable portion on-chain. Furthermore, this 9% allocation is subdivided into the following categories;
Since the launch of $STRK, approximately 424,000 out of the 586,331.086 tokens have been claimed. Additionally, approximately 500,000 of the 1,059,388 eligible users have claimed their STRK tokens.
Disclaimer: This research report is exactly that — a research report. It is not intended to serve as financial advice, nor should you blindly assume that any of the information is accurate without confirming through your own research. Bitcoin, cryptocurrencies, and other digital assets are incredibly risky and nothing in this report should be considered an endorsement to buy or sell any asset. Never invest more than you are willing to lose and understand the risk that you are taking. Do your own research. All information in this report is for educational purposes only and should not be the basis for any investment decisions that you make.