By utilizing STARK technology, Starknet allows unlimited scalability on Ethereum and provides efficient and user-friendly experiences through Native Account Abstraction, allowing developers to determine the behavior of accounts rather than being constrained by protocol-level rules. 

 

Starknet (STRK) crypto asset is now listed on INDODAX on the ERC-20 network.

 

Interested in Starknet (STRK) and how to buy it? Learn more before investing by reading below!

 

About Starknet (STRK)

Starknet (STRK) is a layer-2 blockchain that uses Validity Rollup, also known as a zero-knowledge rollup (ZK rollup), allowing dApps to achieve unprecedented scalability while maintaining Ethereum’s security standards. 

 

Starknet wants to empower individuals to freely implement and utilize any desired social function on the blockchain. Anchored in core principles such as lasting broadness, neutrality, and individual empowerment, Starknet fosters a culture of inclusivity, transparency, and autonomy.

 

For more information, visit the official website of Starknet (STRK) at https://www.starknet.io/en

 

Challenges, Opportunities, and Utilities

StarkNet, developed by StarkWare, represents a state-of-the-art Layer 2 scaling solution designed to enhance the scalability and privacy of blockchain networks, with a particular focus on Ethereum. 

 

By taking advantage of Zero-Knowledge Rollups (ZK-Rollups), StarkNet enables processing thousands of transactions off-chain before bundling them into a single transaction on the Ethereum mainnet. This approach significantly reduces the gas fees and network congestion typically associated with high transaction volumes on Ethereum, making blockchain applications more efficient and accessible to a wider audience. 

 

One of StarkNet’s core technologies is STARK (Scalable Transparent ARgument of Knowledge), a type of cryptographic proof that verifies transactions without revealing any underlying transaction data. This aims to ensure a high degree of privacy and security for users. 

 

STARK proofs are designed to optimize quantum resistance and the ability to compress transaction data efficiently, enhance scalability, and future-proof the network against potential advancements in quantum computing.

 

There are several advantages offered by StarkNet, among others:

 

• Low Costs: Starknet transactions are significantly cheaper than Ethereum’s mainnet, thanks to the efficient off-chain processing enabled by zk-STARKs.

 

• Speed and Efficiency: With upcoming releases focused on optimizing transaction speed and cost-effectiveness, Starknet continues to push the boundaries of what is possible in decentralized transaction processing.

 

• Developer-Friendly: Starknet provides developers with a user-friendly environment for building dApps using its native language, Cairo. This simplifies the development process and accelerates innovation within the ecosystem.

 

• Cairo: Cairo serves as Starknet’s native language for creating STARK-based smart contracts, offering developers a safe and convenient platform to build scalable and secure dApps.

 

• Account Abstraction: Account abstraction allows smart contracts to handle funds without users needing to give away control of their funds. Starknet implements account abstraction at the protocol level, allowing for diverse signing schemes while ensuring user security and self-custody of assets.

 

• Volition: This feature empowers developers to regulate Ethereum (L1) or Starknet (L2) data availability, further reducing costs and enhancing efficiency.

 

• Paymaster: Starknet introduces the concept of a Paymaster, allowing users to choose how to pay transaction fees and supporting gasless transactions for enhanced accessibility. This helps new users onboard Starknet.

 

With these advantages, StarkNet has several uses, as follows:

 

• Network fees: Starting with Provisions, users can pay transaction fees using STRK. Fees on Starknet are currently paid in ETH, and following Provisions, users can pay fees in ETH or STRK. 

 

• Governance: Following Provisions, recipients of STRK will be able to participate in governance related to a range of matters that will shape Starknet’s future. 

 

• Staking: In the future, STRK will be used for staking within a proof-of-stake (PoS) model that will enable stakers to choose among a decentralized network of sequencers, ensuring Starknet’s decentralized operation.

 

Founder and Investor of Starknet (STRK)

Diego Oliva is the Chief Executive Officer of StarkNet. He served as Facebook’s regional director for Europe, the Middle East, and Africa from 2009 to 2015, where he led the creation of teams from scratch and played a pivotal role in driving Facebook’s exponential growth across the region. 

 

He also co-founded and led Glue Home, an IOT company that enables smart access and last-mile in-home deliveries and served on the board of Just Eat.

 

During its development, StarkNet raised a total capital of $282.50 million. It was backed by several investors and venture capital firms, such as Sequoia Capital, Paradigm, Pantera Capital, Founders Fund, Coinbase Venture, and others.

 

Crypto Asset Ranking Information

As of May 6, 2024, the CoinMarketCap ranking of Starknet (STRK) is #84, with a market cap of USD 1,004,183,723. It has a circulating supply of 728,000,000 STRK and a maximum supply of 10,000,000,000 STRK.

 

How to Buy Starknet (STRK) on INDODAX 

Now that you’ve discovered more about Starknet (STRK), you can start investing in Starknet (STRK) easily and securely on INDODAX. 

 

You can access INDODAX via the INDODAX Mobile App, which can be downloaded from the App Store or Google Play Store, or by visiting the INDODAX website.

 

To buy Starknet (STRK) crypto asset on INDODAX, follow the steps below:

 

1. Register on INDODAX if you are not yet an INDODAX Member or login to your INDODAX account
2. Then, deposit by reading how to make a deposit below
3. After making a successful deposit and the balance has been credited to your INDODAX account, visit the INDODAX market
4. Search for STRK in the IDR market, and click to visit the crypto asset page
5. On the crypto asset page, enter the balance and desired STRK purchase price, or buy instantly at the current price
6. Next, you should wait for the price to increase for some time
7. Once the price increases, your assets can be sold at a higher price with the Instant method
8. If you use the Limit method to sell, make sure to place a sell order after purchasing the asset and enter a higher sell number

 

INDODAX also offers other features than trading, such as INDODAX Earn which allows you to lock crypto assets and earn interest rewards, and INDODAX OTC for large crypto transactions in a more personalized and secure way.

 

Let’s invest in Starknet (STRK) on INDODAX now!