Starknet launches parallel transaction execution testnet

Starknet’s Ethereum layer-2 scaling software has launched its parallel execution functionality on the testnet in anticipation of mainnet launch within a few short weeks.

Starknet is layer-2, operating over the Ethereum blockchain. Ethereum A testnet update has been released by network. It brings with it new features designed to accelerate transaction execution.

You can also find out more about the following: an X announcement Starknet announced on August 21 that its 0.13.2 network version was now available on the testnet. The final launch on the mainnet should be within a week.

Update v. 1.1 brings with it a brand new feature. “parallel execution,” Making it possible to process transactions simultaneously, instead of sequentially. Starknet is now able to perform “multiple transactions at the exact same time,” Developers of the project say that it is no longer necessary to wait to complete each transaction individually.

“Before Starknet v0.13.2, each of these transactions were executed one after the other. With v0.13.2, they’re processed in parallel (at the same time), boosting Starknet’s speed and capacity for you, users and developers.”

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Starknet is preparing for future enhancements. StarkWare, developer of Starknet announced an update on Aug. 20. announced The first mainnet voting for STRK users will focus on the introduction to staking in the network. This proposal will define the details of the staking system, and a complete launch is expected by October.

Phased stake rollout will begin in September with the testnet, and then move to Q4 of 2024 for mainnet. In addition, the proposal outlines the mechanism for minting and protocol to adjust staking parameters. The Starknet community will have a direct say in the decisions.