STARKNET- Blockchain for Ethereum Scaling

Starknet is the secure scaling technology bringing Ethereum’s benefits to the world. Starknet is a permissionless validity rollup, also known as a zero-knowledge rollup (ZK rollup) for Ethereum.

ZK rollup- It is a layer 2 scaling solution for Ethereum that uses zero-knowledge proofs to ensure the validity of batched transactions. The validators prove a transaction in ZK rollup without revealing any details. ZK rollups help to reduce gas fees. It operates on the Ethereum blockchain and transactions occur on separate virtual machines.

Straknet improves ETH scalability:

Starknet achieves scale by shifting transaction processing off the Ethereum Mainnet (what we call off-chain) while retaining a summary of the transactions on-chain. Transactions are grouped in batches into blocks, processed off-chain, and then summarized into a single on-chain transaction. It produces STARK off-chain and then sends that proof on-chain.

Cairo-

Cairo is Starknet's smart contract language. Cairo is purpose-built for provable computing and is a cornerstone in Starknet's ability to scale blockchains.

Total Value Locked (TVL)- $535.7M

Active Accounts- 5.4K

Cumulative number of transactions - 117M

Max Daily TPS- 6.55

It supports ERC-20, ERC -721 and ERC-1155.

STRKUSD showed a minor pullback of more than 30% after a massive sell-off. It hit a high of $0.4150 and is currently trading around $2.02.

The bullish invalidation can happen if the pair closes below $0.30. On the lower side, the near-term support is $0.35. Any break below targets $0.30.

The pair's near-term resistance is around $0.45. Any breach above confirms minor bullishness. A jump to $0.60/$0.75 is possible. A surge past $0.75 will take it to $1.

It is good to buy on dips around $0.25 with SL around $0.20 for TP of $0.45/$0.60.