Last year 8 billion dollars creator of blockchain scaling systems that achieve valuation StarkWareannounced today that it plans to open source its core cryptographic software tool.
StarkWare to Release Ethereum Scaling System as Open Source
Israel-based StarkWare’s technology, Ethereum addresses scalability issues that cause slow throughput and high gas or transaction fees.
The company has two platforms:
StarkEx scaling engine and StarkNet available to developers who build decentralized applications (dapps).
StarkWare plans to open source the STARK Prover technology that powers these projects.
Prover is a key component of StarkNet, a widely adopted Layer 2 scaling network for Ethereum based on ZK-STARKs technology.
The announcement was made during the two-day StarkWare Sessions 2023 event in Tel Aviv, Israel.
The company said it will take time to implement its open source plan, but StarkWare is committed to making its entire technology stack transparent to developers.
“Every step we take to provide infrastructure and make it accessible and decentralized is a catalyst for developers to build,” StarkWare co-founder and President Eli Ben-Sasson said at the summit.
“The faster and more widely they build, the faster we will see mass engagement in solutions that truly allow people to manage their own funds.
“So there is a direct correlation between open-sourcing the underlying technology and popularizing the self-hiding method,” he said.
Crypto infrastructure projects have a growing profile after the collapse of centralized cryptocurrency exchange FTX. In January, investment in crypto companies fell 91% from the previous year as backers turned away from centralized finance projects.
However, infrastructure remained relatively strong and was the sector that paid the most.
*Not investment advice.
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