StarkWare to Open Source Its Ethereum Scaling System

StarkWare to Open Source Its Ethereum Scaling System

Consensus 2023 Logo

Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.

Brandy covers crypto-related venture capital deals for CoinDesk.

Consensus 2023 Logo

Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.

StarkWare, a creator of blockchain scaling systems that has reached an $8 billion valuation last year, announced plans on Monday to open source its core cryptographic software tool.

The technology of Israel-based StarkWare tackles the scalability issues of Ethereum, which cause slow throughput and high gas or transaction fees. The company has two platforms: the StarkEx scaling engine and StarkNet, which puts the technologies in the hands of developers building decentralized applications (dapps). StarkWare plans to open source the STARK Prover technology that powers those projects.

The announcement was made during the two-day StarkWare Sessions 2023 event in Tel Aviv, Israel. The company said the plan to open source will take time to implement, but StarkWare is committed to making the entire tech stack transparent for developers.

“Every step we take to provide infrastructure, and to make it accessible and decentralized, is a catalyst for devs to build,” StarkWare co-founder and President Eli Ben-Sasson said in a statement at the summit. “And the quicker and more broadly they build, the faster we’ll see mass onboarding to solutions that truly enable people to manage their own funds. So there’s a direct line between open-sourcing key tech and popularizing self-custody.”

Crypto infrastructure projects have an increased profile after the collapse of centralized crypto exchange FTX. In January, investments in crypto companies fell 91% year over year as backers moved away from centralized finance projects. Infrastructure, however, remained relatively strong and was the highest-earning vertical.

UPDATE (UTC 14:38): Removes extraneous text.


Sign up for The Node, our daily newsletter bringing you the biggest crypto news and ideas.

By signing up, you will receive emails about CoinDesk product updates, events and marketing and you agree to our terms of services and privacy policy.

DISCLOSURE

Please note that our

privacy policy,

terms of use,

cookies,

and

do not sell my personal information

has been updated

.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a

strict set of editorial policies.

CoinDesk is an independent operating subsidiary of

Digital Currency Group,

which invests in

cryptocurrencies

and blockchain

startups.

As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of

stock appreciation rights,

which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG

.

Brandy covers crypto-related venture capital deals for CoinDesk.


Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.


Brandy covers crypto-related venture capital deals for CoinDesk.

Read More

Zaļā Josta - Reklāma