Starknet (STRK) Wallet

About Starknet

• What is Starknet?

  Starknet is a decentralized zk (zero-knowledge) rollup that operates as an L2 on top of Ethereum blockchain, allowing DApps to scale their computation without sacrificing security or composability. It offers high throughput and low gas costs, making it an efficient solution for users. To achieve scalability, Starknet utilizes SHARP (Shared Provers), which have the ability to prove large volumes of transactions. In 2020, they were able to prove a record-breaking number of 300,000 transactions in a single proof. In July 2023, StarkWare Labs, the software development company behind Starknet, announced that gas fee reduction of up to 30% would also be realized when SHARP implements Dynamic Layouts customization.

• What makes Starknet unique?

  Starknet does not support EVM compatibility, which means that smart contracts used in popular Ethereum DApps like Uniswap and OpenSea must be written in Cairo, Starknet's programming language optimized for ZK rollups. Cairo is a powerful language that allows for cheaper computations than those on an EVM, enabling new possibilities such as blockchain games. Although this may deter some developers who need to learn a new language, Ethereum smart contracts can be converted to Cairo using a transpiler like Nethermind's Warp. However, these contracts will not be fully optimized for Starknet.

• Does Starknet have a token?

  Yes, Starknet's native token STRK is currently available on Starknet as well as the Ethereum mainnet. As the backbone of Starknet's ecosystem, the STRK token serves multiple essential functions, including paying fees for network operations, participating in staking for consensus, and influencing governance decisions. Concerns have been raised about the token unlock schedule and distribution method, particularly regarding the 1.3 billion STRK tokens (13% of the total supply) set to be released to Starknet investors and early contributors, which could lead to market volatility. After listening to the community's feedback, StarkWare, the company behind Starknet, decided to revise the distribution from a lumpsum of 1.3 billion STRK to 64 million STRK, which is only 0.64% compared to the initial 13%.

• What are the benefits of using Bitget Starknet Wallet?

  Bitget Starknet Wallet offers users several benefits, including secure asset storage using industry-standard encryption. Additionally, it provides easy access to your tokens, allowing you to view your balance and transaction history with just a few clicks. You can also send and receive tokens to and from other wallets, making it easy to manage your cryptocurrency transactions. Our Starknet Wallet is well integrated with other Starknet DApps, allowing you to fully participate in the Starknet ecosystem and utilize your asset on the Starknet mainnet.

• What are the trending DApps on Starknet?

  Since Starknet mainnet has just launched, it is crucial to establish a bridge to transfer funds to the new mainnet. If you are a desktop user, StarkGate, the official bridge for Starknet, is one of the most significant DApps in the ecosystem. It acts as a gateway between Ethereum and Starknet, enabling users to perform all the functions they would expect from a bridge. If you are a mobile user, Rango, a multi-chain bridge and DEX, is also a good option for achieving the same purpose. Additionally, 10KSwap is an AMM protocol built on Starknet that aligns with Ethereum's advancements. By utilizing the rollup feature, it seeks to offer lower fees, less friction, and improved liquidity to the L2 ecosystem. Moreover, Aspect is the first NFT marketplace on the Starknet mainnet, where users can buy and sell the latest NFT collections on a Cairo-based platform.

• How to use Starknet Wallet?

  The simplest way to start using Starknet is by creating a Starknet Wallet in Bitget Wallet, which can be installed via Google Play, App Store, or a Chrome extension. After installation, create a crypto wallet on the Starknet mainnet and start making transactions on the Starknet mainnet. You can then explore the Starknet ecosystem through the Bitget DApp browser, which supports various DApps, including DeFi, NFT, exchange, and tools.