Starknet L2 initiates test transactions from Ethereum mainnet

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The official Starknet Ethereum deal with made seven cross-chain transactions forward of the anticipated launch of STRK, the protocol’s native token anticipated by Q2 2024. 

Starknet transferred lower than three STRK tokens between Ethereum’s mainnet and the mission’s layer-2 community, per knowledge seen on block explorer Starkscan. The motion was doubtless a part of an on-chain take a look at train for the Ethereum-based scaling resolution earlier than builders rolled out the ERC-20 cryptocurrency.

STRK take a look at transactions | Supply: Starkscan

The transactions for customers and community individuals point out progress towards STRK’s launch, which can accompany an airdrop and neighborhood rewards. The Starknet Basis revealed 1.8 billion STRK tokens earmarked for its distribution plan in December final yr. 

Half that quantity was designated community rebates to reward customers already transacting on the L2 chain, crypto.information famous. Beneficiaries of the Early Neighborhood Member Program are additionally set to receive a portion of some 50 million STRK cash when the token is launched.

Moreover, STRK is about to onboard extra utilities following a pivotal neighborhood vote on Jan. 8. Delegates authorized STRK as a sound transaction price cost foreign money in a two-token fuel construction alongside Ether (ETH). 

In line with a Starknet Basis committee, STRK ought to launch by April 2024, barring any delays or technical hiccups. Constructed by Israeli-based blockchain startup Starkware Industries, the L2 community deploys zero-knowledge rollup know-how to scale Ethereum’s community. 

The thought is to decongest Ethereum’s mainnet by offering another transaction chain with low-cost charges and quicker settlement whereas retaining on-chain safety and transparency. Starknet had over $169 million in complete worth locked as of Jan. 15, L2Beat confirmed. 

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