About Starknet

StarkNet is a decentralized Layer 2 (L2) solution designed to enhance the scalability of the Ethereum network through the use of cryptographic protocols known as STARKs. This technology allows for efficient transaction processing while upholding the fundamental principles of Ethereum, including decentralization, transparency, inclusivity, and security. StarkNet operates without permission, enabling users to engage with the network freely and effectively. The StarkNet Token plays a crucial role within this ecosystem, serving multiple functions that are essential for its operation and governance. It is utilized for transaction fee payments, governance participation, and engagement in the consensus mechanism, thereby ensuring that stakeholders have a voice in the network's strategic direction and development. This token is integral to maintaining the integrity and security of StarkNet, facilitating a robust environment for decentralized applications and services.