Starknet, an Ethereum layer-2 scaling solution, has enabled parallel execution on the testnet ahead of the mainnet launch in a few weeks.
A testnet update for Starknet, a layer-2 blockchain running on top of the Ethereum network, has been released. The new capabilities are intended to expedite the execution of transactions.
Starknet claimed in an X announcement on August 21 that the network’s 0.13.2 version is currently operational on the testnet and that the mainnet’s final deployment is scheduled to occur in one week.
With the most recent version, transactions can now be executed simultaneously rather than sequentially, thanks to a new feature dubbed “parallel execution.”
According to the project’s developers, Starknet can now process “multiple transactions at the exact same time” with the update, negating the need to wait for each transaction to be finished separately. Starknet:
Before Starknet v0.13.2, each of these transactions were executed one after the other. With v0.13.2, they’re processed in parallel (at the same time), boosting Starknet’s speed and capacity for you, users and developers.”
According to the data, Starknet suffered a decrease despite the news, trading down 2.3% at $0.35. This update coincides with the preparation of Starknet’s ecology for future improvements.
The company that created Starknet, StarkWare, declared on August 20 that it would hold its first-ever mainnet vote for STRK holders to stake the network.
The proposal will specify the details of the staking mechanism, and by October, a complete launch is expected.
The mainnet launch is scheduled for Q4 2024, after a testnet launch in September as part of the phased staking deployment.
In order to provide the Starknet community with a direct say in these decisions, the proposal also describes the protocol for changing staking settings and the minting method.
