Starknet Reveals Plans to Improve on Transaction Per Second (TPS) to Rival Solana
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Eli Ben Sasson, CEO of Starkware, has announced ambitious plans to significantly enhance Starknet’s performance. In just less than three months, Ethereum layer 2 scaling solution, Starknet intends to introduce a 4x transaction per second improvement by using Cairo. At the same time, the CEO has also revealed that, alongside the 4x TPS, transaction costs will be cut by a factor of five.
To this end, these upgrades aim to position Starknet as a major rival to Solana, a blockchain renowned for its high-speed capabilities.
Transforming Starknet’s performance
At the core of this enhancement is the optimization of Cairo, Starknet’s smart contract programming language. To this end, Ben Sasson has highlighted that the improvement (“better compilation and faster execution”) will enable Starknet to surpass the 1,000 TPS threshold.
Currently, Starknet averages 129 TPS, with stress tests reaching 857 TPS. These upgrades could bring the blockchain on par with Solana. A blockchain that processes between 800 and 1,050 non-vote transactions per second.
Driving Down Costs and Expanding Functionality
Starknet is focusing on the cost-efficiency method alongside improving its speed. Ben Sasson, in his statement, has predicted a 5x reduction in transaction fees. However, if this reduction is actualized, it is said to potentially lower costs to $0.002 per transaction, making the Ethereum layer 2 scaling solution one of the most affordable scaling solutions.
It is important to note that this improvement is crucial, as increased blockchain activity typically drives up gas prices.
Also, Starknet is planning an integration through OP_CAT Functionality for Bitcoin next year. This expansion, if achieved, would make Starknet the first Layer 2 solution to settle both on Bitcoin and Ethereum.
Finally, with the introduction of the dual features, that is 4x speed performance and 5x affordability, Starknet is setting the stage to challenge Solana in the high-performance blockchain space. Moreover, these upgrades, in conjunction with the proposed cross-chain functionality, could restructure the Ethereum layer 2 landscape by meeting the needs for a faster and more cost-effective blockchain network.
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