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Starknet Token

Starknet Token

STRK
$1.15
0.74%
$1.13

24H Price

$1.18

About Starknet Token

Starknet is layer-2 network that makes use of zero-knowledge cryptography, allowing decentralized applications operating on top of it to scale the Ethereum blockchain. It does this by bundling transactions off-chain into a proof that is submitted to Ethereum, which in turn is supposed to process the transaction faster and lower fees for computing them.

Starknet was co-founded by Eli Ben-Sasson and Udi Kolodny, and the blockchain first went live in November 2021. Their firm, StarkWare, was the primary developer firm behind the blockchain. In November 2022 they created the Starknet Foundation, a nonprofit aimed to decentralize the network and help govern the blockchain.

Since then, Starknet has amassed nearly $55 million in total value locked (TVL), according to DefiLlama, making it one of the top teams aiming to provide auxiliary bandwidth for transactions in the Ethereum ecosystem.

In February 2024, Starknet Foundation announced that it planned to airdrop their STRK token, with 728 million tokens eligible to be distributed to 1.3 million wallets. The announcement, which is one of the largest eligible airdrop distributions, was met with praise for how widespread the eligibility requirements are, but also with some criticism for how little Starknet users are able to claim.

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Last Updated on 05/18/24 6:21 PM

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