Binance Announces Listing of Starknet (STRK)

Binance will list StarkNet (STRK) and is scheduled to open trading for these spot trading pairs on 2024-02-20 at 12:00 (UTC).

Binance Announces Listing Of Starknet (strk)_65d5e27e21571.webp

Binance will list StarkNet (STRK) and is scheduled to open trading for these spot trading pairs on 2024-02-20 at 12:00 UTC.

The newly added spot trading pairs are: STRK/BTC, STRK/USDT, STRK/FDUSD, and STRK/TRY.

Users can commence STRK deposits immediately, while STRK withdrawals are expected to open on 2024-02-21 at 12:00 UTC.

Listing fee for STRK: 0 BNB

Note: Withdrawal opening times are estimates. Users can check the actual withdrawal status on Binance’s withdrawal page.

Binance listing strk
Binance listing strk

Overview

STRK functions as a permissionless, Validity-Rollup, commonly referred to as a zero-knowledge rollup (ZK rollup) designed for Ethereum. Positioned as a Layer 2 (L2) blockchain, it empowers any decentralized application (dApp) to achieve extensive computational scale without compromising the composability and security inherent in Ethereum.

Starknet aims to facilitate secure, cost-effective transactions and high performance through the utilization of the STARK cryptographic proof system. The programming language for STRK contracts and the STRK OS is Cairo, a purpose-built, specialized language.

interface strk
interface strk

Scaling Ethereum with Starknet

Blockchains aspire to maintain three fundamental attributes: security, decentralization, and scalability. Within the blockchain landscape, a well-recognized trilemma asserts that achieving all three simultaneously is challenging, often requiring a compromise on one. Ethereum prioritizes security and decentralization, impacting its scalability. The growth in Ethereum user numbers results in sluggish transaction speeds and elevated gas prices, impeding widespread adoption.

The challenge becomes clear: how can Ethereum achieve scalability without sacrificing security and decentralization? Enter Starknet’s Validity Rollup. By integrating Ethereum with Starknet, significant scalability is attainable.

Related: Disappearance of Nearly 2,000 Starknet Airdrop Participants

STRK achieves scalability by relocating transaction processing off the Ethereum Mainnet (referred to as off-chain) while maintaining a condensed summary of the transactions on-chain. Transactions are organized into blocks, processed off-chain, and then summarized into a singular on-chain transaction. As these transactions occur off-chain, ensuring their integrity and execution without re-execution is crucial.

Starknet addresses this challenge by employing STARK (Scalable, Transparent ARgument of Knowledge) proofs for verifiable computation. Starknet transmits only essential information about the block and the proof to Ethereum, where it undergoes verification with minimal computational effort.

(100 votes)

5.0/5

(100 votes)

Latest

Coinbase Stock Hits New High As Analysts Split On Future Rally

News | Altcoin | Editor Choice | Policy & Regulations

Coinbase Stock Hits New High as Analysts Split on Future Rally

Coinbase (COIN), the crypto exchange giant, has just set a new all-time closing high, despite growing concerns that the stock may be due for a short-term correction.

Ai Crypto App Users Double This Year

Editor Choice | Altcoin

AI Crypto App Users Double This Year

According to a report from DappRadar, there are approximately 4.5 million wallets using AI applications on the blockchain, marking an 86% increase this year.

Aqua 1 Invests $100 Million In World Liberty Financial

Editor Choice | Altcoin

Aqua 1 Invests $100 Million in World Liberty Financial

Aqua 1 Investment Fund has decided to invest 100 million USD in World Liberty Financial (WLFI), a DeFi project backed by the Trump family.

Rlusd Expands To 20 Million Merchants, Aims To Compete With Usdc

News | Altcoin | Editor Choice | Policy & Regulations

RLUSD Expands to 20 Million Merchants, Aims to Compete with USDC

Ripple teams up with Aeon to bring the RLUSD stablecoin and XRP token into the Web3 payment system, expanding spending capabilities to over 20 million retail locations across Southeast Asia.

Trader Sets $100 Price Target For Xrp By 2027

News | Altcoin | Editor Choice

Trader Sets $100 Price Target for XRP by 2027

A bold price prediction for XRP has stirred lively debate within the crypto community, as a trader forecasts the token could reach $100 by 2027.