TL;DR
- Starknet releases version 0.13.2 with two key innovations: parallel execution and block packing.
- Parallel execution allows processing multiple transactions simultaneously, reducing confirmation times and latency.
- Block packing optimizes space usage, reducing Layer 1 costs and accelerating transaction confirmation to 2 seconds.
Starknet, one of the most promising Layer 2 solutions in the Ethereum ecosystem, has introduced a significant update with version 0.13.2. The new version brings two revolutionary features: parallel execution and block packing, which promise to transform the way transactions are managed.
Parallel execution is the central component of this update. This innovative feature allows transactions to be processed simultaneously rather than sequentially. Traditionally, blockchain transactions were executed one after the other, limiting the system’s capacity and speed, especially during times of high network congestion.
2-second txs are here 🔥
Parallel Execution and Block Packing are now live on Starknet mainnet!
With higher TPS capacity, more frequent blocks and faster tx confirmation time, Starknet is now smoother than ever.https://t.co/x7oPTYByB4 pic.twitter.com/Z23OKboPlT
— Starknet 🐺🐱 (@Starknet) August 28, 2024
With parallel execution, Starknet can handle multiple transactions at the same time, leveraging the processing power of multi-core processors and improving the overall network performance. This improvement will reduce both the time required to confirm transactions and latency, providing a smoother experience for users.
Starknet Minimizes Times and Costs
The update also includes a new feature called block packing, designed to optimize space usage within each block. This technique consolidates several transactions into a single dense block, allowing for a substantial reduction in Layer 1 (L1) costs and speeding up transaction confirmation times.
With block packing, confirmation times for around 80% of transactions are reduced to just 2 seconds, while Layer 2 (L2) block times are adjusted to a range of 20 to 60 seconds. This approach helps decouple L2 block frequency from L1 costs, allowing for greater efficiency in data processing.
The implementation of these features will enhance Starknet’s scalability and performance, enabling it to become an advanced solution with the capability to set new industry standards and paving the way for broad and efficient adoption of blockchain technology.
