In a Monday blog post, StarkWare, a blockchain scaling system developer valued at $8 billion last year, revealed plans to make its primary cryptographic software tool available.
Ethereum has scalability concerns that lead to limited throughput and excessive gas or transaction costs, but Israeli startup StarkWare has developed a solution. Two of the company’s platforms, StarkEx and StarkNet, make the company’s technology available to programmers to create decentralised applications (dapps). StarkWare intends to make the underlying STARK Prover technology freely available to the public.
The declaration was made in Tel Aviv, Israel, during the StarkWare Sessions 2023 conference. StarkWare has promised to make its whole technology stack open and accessible to developers but admits that implementing its open-source strategy would take time.
Open-Sourcing the Starknet Prover.
Entire #Starknet stack is now announced to be open-sourced! https://t.co/efZcGHKqIs
— StarkWare (@StarkWareLtd) February 5, 2023
Eli Ben-Sasson, co-founder and president of StarkWare, said, “Every step we take to provide infrastructure and to make it accessible and decentralised is a catalyst for devs to build.” And the more rapidly and extensively they grow, the sooner there will be widespread adoption of solutions that give individuals control over their financial lives. Self-custody is directly correlated with the open sourcing of critical technologies.
After the collapse of the centralised crypto exchange FTX, projects relating to crypto infrastructure have gained more attention. As investors fled centralised financing ventures, January saw a 91% YoY drop in crypto company funding. However, the most robust and most profitable industry segment was still infrastructure.