Starknet is a highly innovative Layer2 scaling solution for Ethereum, designed to increase network capacity and performance without compromising security. As a permissionless decentralized network, Starknet uses Zero-Knowledge Rollup (ZK-Rollup) technology to enable faster and more cost-effective transactions. By leveraging the STARK cryptographic proof system, Starknet enables decentralized applications (dApps) to operate at a significantly greater scale. 

The core of Starknet's functionality lies in its ability to process and validate transactions off-chain before bundling them into a single proof that is then verified on the Ethereum blockchain. This process, known as a Validity Rollup, effectively increases transaction throughput while reducing the load on the main Ethereum network. 

This unique approach positions Starknet as a bridge between scalability and broad consensus, providing a resilient platform for dApps to thrive without being limited by Ethereum's scalability challenges.

What is the STRK token?

The STRK token is an integral part of the Starknet ecosystem, serving as the primary medium of exchange within the network. It is a fundamental part of the network's operations, governance, and consensus mechanisms, and its utility extends beyond simple transactions. As a utility token, STRK is used to pay transaction fees on the network, which were initially only payable in Ether (ETH). 

With the introduction of STRK, users gained the ability to pay fees in the native token, increasing the network's flexibility and autonomy. A portion of the fees collected in STRK are converted to ETH to cover the cost of Ethereum's Layer1 gas, ensuring uninterrupted integration and operation within the Ethereum ecosystem.

Here are some other things you need to know about the token:

• Trading Volume (24h): The trading volume of STRK in the past 24 hours is $108,869,286.
• Circulating Supply: The circulating supply of STRK is 1.14B tokens.
• Total Supply: The total supply of STRK is 10B  tokens.

Trade STRK

If you are looking to optimize transaction costs and participate in a network’s governance, Starknet could be a great platform to look into. To join the growing Starkent ecosystem, all you only need to do is get some STRK tokens. Head over to our trading page and secure your tokens.

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