{"id":170650,"date":"2024-08-28T16:51:03","date_gmt":"2024-08-28T16:51:03","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=170650"},"modified":"2024-08-28T16:51:07","modified_gmt":"2024-08-28T16:51:07","slug":"starknets-new-parallel-execution-feature-what-it-means-for-the-evolution-of-layer-2-chains","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/starknets-new-parallel-execution-feature-what-it-means-for-the-evolution-of-layer-2-chains\/","title":{"rendered":"Starknet\u2019s New Parallel Execution Feature: What It Means for the Evolution of Layer 2 Chains"},"content":{"rendered":"<p style=\"text-align: justify\">TL;DR<\/p>\n<ul style=\"text-align: justify\">\n<li>Starknet releases version 0.13.2 with two key innovations: <strong>parallel execution and block packing<\/strong>.<\/li>\n<li>Parallel execution allows <strong>processing multiple transactions simultaneously<\/strong>, reducing confirmation times and latency.<\/li>\n<li><strong> Block packing<\/strong> <strong>optimizes space usage<\/strong>, reducing Layer 1 costs and accelerating transaction confirmation to 2 seconds.<br \/>\n<hr \/>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify\"><strong>Starknet<\/strong>, one of the most promising Layer 2 solutions in the <a href=\"https:\/\/crypto-economy.com\/how-to-buy-ethereum\/\" target=\"_blank\" rel=\"noopener\"><strong>Ethereum<\/strong> <\/a>ecosystem, <strong>has introduced a significant <a href=\"https:\/\/www.starknet.io\/blog\/bolt-version-upgrade\/\" target=\"_blank\" rel=\"noopener\">update<\/a> with version 0.13.2.<\/strong> The new version brings two revolutionary features: <strong>parallel execution and block packing<\/strong>, which promise to transform the way transactions are managed.<!--more--><\/p>\n<p style=\"text-align: justify\">Parallel execution is the central component of this update. This innovative feature <strong>allows transactions to be processed simultaneously rather than sequentially<\/strong>. Traditionally, <a href=\"https:\/\/crypto-economy.com\/blockchain-technology\/\" target=\"_blank\" rel=\"noopener\"><strong>blockchain<\/strong> <\/a>transactions were executed one after the other, limiting the system&#8217;s capacity and speed, especially during times of high network congestion.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">2-second txs are here \ud83d\udd25<\/p>\n<p>Parallel Execution and Block Packing are now live on Starknet mainnet!<\/p>\n<p>With higher TPS capacity, more frequent blocks and faster tx confirmation time, Starknet is now smoother than ever.<a href=\"https:\/\/t.co\/x7oPTYByB4\" target=\"_blank\">https:\/\/t.co\/x7oPTYByB4<\/a> <a href=\"https:\/\/t.co\/Z23OKboPlT\" target=\"_blank\">pic.twitter.com\/Z23OKboPlT<\/a><\/p>\n<p>&mdash; Starknet \ud83d\udc3a\ud83d\udc31 (@Starknet) <a href=\"https:\/\/twitter.com\/Starknet\/status\/1828726775633051929?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">August 28, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p style=\"text-align: justify\">With parallel execution, <strong>Starknet can handle multiple transactions at the same time<\/strong>, leveraging the processing power of multi-core processors and improving the overall network performance. This improvement <strong>will reduce both the time required to confirm transactions and latency<\/strong>, providing a smoother experience for users.<\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-157972\" src=\"https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2023\/12\/Starknet-Airdrop.jpg\" alt=\"Starknet Foundation Announces Plans for STRK Token Airdrop: Leaked Details Raise Expectations\" width=\"825\" height=\"300\" srcset=\"https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2023\/12\/Starknet-Airdrop.jpg 825w, https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2023\/12\/Starknet-Airdrop-300x109.jpg 300w, https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2023\/12\/Starknet-Airdrop-768x279.jpg 768w\" sizes=\"(max-width: 825px) 100vw, 825px\" \/><\/p>\n<h2>Starknet Minimizes Times and Costs<\/h2>\n<p style=\"text-align: justify\">The update also includes a new feature called block packing, designed to <strong>optimize space usage within each block<\/strong>. This technique <strong>consolidates several transactions<\/strong> into a single dense block, allowing for <strong>a substantial reduction in Layer 1 (L1) costs and speeding up transaction confirmation times.<\/strong><\/p>\n<p style=\"text-align: justify\">With block packing, confirmation times for <strong>around 80% of transactions are reduced to just 2 seconds<\/strong>, <strong>while Layer 2 (L2) block times are adjusted to a range of 20 to 60 seconds<\/strong>. This approach helps decouple L2 block frequency from L1 costs, allowing for greater efficiency in data processing.<\/p>\n<p style=\"text-align: justify\">The implementation of these features will enhance Starknet\u2019s scalability and performance, enabling it to become an advanced solution with <strong>the capability to<\/strong> <strong>set new industry standards<\/strong> and paving the way for broad and efficient adoption of blockchain technology.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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, &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"Starknet\u2019s New Parallel Execution Feature: What It Means for the Evolution of Layer 2 Chains\" class=\"read-more button\" href=\"https:\/\/crypto-economy.com\/starknets-new-parallel-execution-feature-what-it-means-for-the-evolution-of-layer-2-chains\/#more-170650\" aria-label=\"More on Starknet\u2019s New Parallel Execution Feature: What It Means for the Evolution of Layer 2 Chains\">Read more<\/a><\/p>\n","protected":false},"author":34,"featured_media":170652,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[84,74],"tags":[4620,4679,5170,9901],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/170650"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=170650"}],"version-history":[{"count":1,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/170650\/revisions"}],"predecessor-version":[{"id":170653,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/170650\/revisions\/170653"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/170652"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=170650"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=170650"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=170650"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}