• News
    • Bitcoin
    • Altcoins
    • Blockchain
    • DeFi
    • Regulation
    • Scams
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Videos
  • Blogs
  • Market Cap
  • Shop
What's Hot

Jan 2024 SEC’s X account hacker got 14 months in prison for cyber fraud

2025-05-17

A Beginner’s Guide to Crypto

2025-05-15

How an insider-led breach sparked a costly scam at Coinbase

2025-05-15

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

Facebook Twitter Instagram
Crypto Investor News Network
  • News
    • Bitcoin
    • Altcoins
    • Blockchain
    • DeFi
    • Regulation
    • Scams
  • NFT

    All Eyes on Art: Upcoming Collections to Watch the Week of February 4

    2025-02-05

    Creator of rabbit AI assistant has hidden NFT past

    2024-05-02

    Ethereum tops daily NFT sales at US$7 mln, ends weakest month of 2024

    2024-05-02

    Top NFT Airdrops and Giveaways for May 2024

    2024-05-02

    Casio Launches NFT Collection Celebrating 50th Anniversary

    2024-05-01
  • Metaverse

    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

    2024-12-13

    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

    2024-10-28

    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

    2024-09-05
  • Analysis

    Crypto Exchange Coinbase Lists New DeFi Altcoin Project Built on Base Blockchain

    2023-12-13

    Ethereum Price Bears Keep Pushing, Why Decline Isn’t Over Yet

    2023-12-13

    Trader Bullish on Cosmos (ATOM), Says One Dogecoin Rival Setting Up for Next Leg Up – Here’s His Outlook

    2023-12-13

    AVAX Price Pumps 50% and Dumps 15%, Why Uptrend Is Still Strong

    2023-12-13

    Top Trader Predicts Parabolic Rally for Solana Competitor – Here’s His Upside Target

    2023-12-13
  • Learn

    A Beginner’s Guide to Crypto

    2025-05-15

    10 Years of Steadfast Support and Compliance

    2025-05-15

    What Is Proof-of-Work (PoW) in Blockchain? A Beginner-Friendly Guide

    2025-05-12

    What is Proof-of-Authority (POA) Consensus in Blockchain?

    2025-05-09

    What Is Proof-of-Stake (PoS)? Guide to Blockchain Consensus for Beginners

    2025-05-09
  • Videos

    Can SOL Ignite a Decentralized Wall Street 🔥

    2025-05-15

    Bitcoin Investors…These are the 3 Crypto Projects I am DCAing Into

    2025-05-14

    Bitcoin’s Parabolic Phase Is Just Getting Started

    2025-05-14

    Bitcoin’s Bullish Move Sets the Stage for These Must-Watch Crypto Projects

    2025-05-13

    Bitcoin Winding Up for an Epic Bull Run

    2025-05-13
  • Blogs
  • Market Cap
  • Shop
Facebook Twitter Instagram TikTok
Crypto Investor News Network
Home»DeFi»DeFi Projects Built on Ethereum Scaling Solution Starknet Hit $10M
DeFi

DeFi Projects Built on Ethereum Scaling Solution Starknet Hit $10M

2023-05-19No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email


DeFi


Starknet, an open-source framework that aims to bring scalability and privacy to decentralized applications (dApps) built on Ethereum, has seen dramatic growth in various DeFi apps on the network over the past few months, with its total value locked (TVL) recently hitting a new all-time high

As of today, Starknet TVL stands at $10.49 million, a whopping ten-fold increase from $1.449 million at the beginning of March, according to DefiLlama.

TVL is a metric commonly used in decentralized finance (DeFi) to measure the total value of assets locked or deposited within a particular protocol, platform, or smart contract. It can serve as an indicator of the overall activity and popularity of a project.

Making Ethereum Wallets Smarter Is the Next Challenge—and Visa Is Among Those Working on It

Developed by Israeli-based company StarkWare, Starknet is designed to address the limitations of the Ethereum blockchain, such as high transaction fees and slow transaction processing times, by enabling off-chain computations and data storage while still leveraging the blockchain’s security guarantees.

“I certainly cannot give any investment advice, but there are many, many developers that understand that in order to unleash Ethereum’s scale reaching a global demand you need new, safe, and battle-tested technologies,” StarkWare president and co-founder Eli Ben-Sasson told Decrypt, adding that Starknet is already recognized as a “hell of a technology stack.”

To achieve this, Starknet leverages a layer-2 scaling technique known as zero-knowledge rollups, which bundles hundreds of thousands of transactions together off-chain and then verifies them on-chain for just a fraction of the cost.

Source: DefiLlama

See also  🔴 Bad News Hits Defi Market | This Week in Crypto – Jul 24, 2023

While Starknet’s current TVL may be much lower than that of some other protocols in the same category, the protocol’s TVL was just about $800,000 at the start of the year.

The major player responsible for more than 57% (over $6 million) of Starknet TVL dominance is JediSwap, a fully permissionless AMM that enables users to swap, earn, and build instantaneously on the decentralized, community-driven protocol.

Other members of the layer-2 market slice, like Arbitrum and Optimism, for example, command TVLs of $2.4 billion and $884 million, respectively. This is in part due to the swift adoption among DeFi heavyweights on each network, including Uniswap, Aave, and Curve.

StarkWare to Open Source Its Zero Knowledge Tech for Scaling Ethereum

Speaking about other likely drivers behind Starknet’s growing popularity, the StarkWare chief mentioned Cairo, the Rust-inspired programming language, which is “the most modern and best smart contract language out there that developers are flocking to,” said Ben-Sasson.

The next thing that everyone is excited about, according to Ben-Sasson, is the next upgrade of the network–version 0.12 which is due to be released in June and is expected to result in a “significant increase in the throughput on Starknet.”


10M built DeFi Ethereum Hit Projects Scaling solution Starknet
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Bitcoin Investors…These are the 3 Crypto Projects I am DCAing Into

2025-05-14

Bitcoin’s Bullish Move Sets the Stage for These Must-Watch Crypto Projects

2025-05-13

What is a Layer-2 (L2) Blockchain Solution? Types & Problems They Solve

2025-05-02

Ethereum To $13,712: The Hopium Is Strong With This One…

2025-04-28
Add A Comment

Leave A Reply Cancel Reply

Top Posts
Altcoins

Will Lido benefit from the surge in ETH withdrawals? This data indicates…

2023-05-18

Withdrawals on Lido rise. The protocol keeps up with the demand and processes transactions successfully.…

Analysis

Solana At Make-Or-Break Moment, Key Levels To Watch

2023-09-14

Solana is eyeing a fresh increase above the $19.00 resistance against the US Dollar. SOL…

Altcoins

Ethereum Staking Yields Drop to 3.5%: Is the Party Over?

2023-10-17

Coinbase’s recent report points to a significant change in the world of cryptocurrency. It reveals…

Subscribe to Updates

Get the latest news and Update from CINN about Crypto, Metaverse and NFT.

Editors Picks

Jan 2024 SEC’s X account hacker got 14 months in prison for cyber fraud

2025-05-17

A Beginner’s Guide to Crypto

2025-05-15

How an insider-led breach sparked a costly scam at Coinbase

2025-05-15

Can SOL Ignite a Decentralized Wall Street 🔥

2025-05-15
Crypto Investor News Network
Facebook Twitter Instagram TikTok
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Disclouser
© 2025 - All rights are reserved.

Type above and press Enter to search. Press Esc to cancel.

bitcoin
Bitcoin (BTC) $ 103,344.69
ethereum
Ethereum (ETH) $ 2,484.82
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 2.37
bnb
BNB (BNB) $ 642.84
solana
Solana (SOL) $ 167.27
usd-coin
USDC (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.21654
cardano
Cardano (ADA) $ 0.744082
tron
TRON (TRX) $ 0.271478
bitcoin
Bitcoin (BTC) $ 103,344.69
ethereum
Ethereum (ETH) $ 2,484.82
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 2.37
bnb
BNB (BNB) $ 642.84
solana
Solana (SOL) $ 167.27
usd-coin
USDC (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.21654
cardano
Cardano (ADA) $ 0.744082
tron
TRON (TRX) $ 0.271478