Starknet is a permissionless general-purpose ZK-Rollup on Ethereum that uses the Cairo programming language and Cairo Virtual Machine. The Cairo VM is optimized for STARK proofs, with the StarkWare team betting that it will enable them to deliver the most performant ZK-Rollup. The project has raised significant funds, with its latest funding round in May 2022 raising $100m at an $8bn valuation.
Many are anticipating a Starknet airdrop, and we are observing relatively high activity on the network given its infancy, lack of EVM compatibility, and the caps imposed on deposits.
It will be interesting to see if its unique approach prevails over its EVM counterparts (check out Nansen’s zkEVM report...