StarkNet, a Layer 2 scalability solution developed within the Ethereum 
$3,404 Blockchain ecosystem, has generated significant excitement in the cryptocurrency world. Also known as “Zk-Rollup” or “Validity Rollup,” this project aims to enhance Ethereum network transaction speed and affordability by processing most transactions off-chain and providing proofs to the main network. Created by Stark Ware Industries, a company backed by prominent investors such as Sequoia Capital, Paradigm, and Coatue, StarkNet represents a notable advancement in Blockchain scalability and privacy. In this article, you can find answers to many questions, such as what StarkNet is and how to buy its native asset, STRK coin, listed for trading on Binance.
What is StarkNet?
Functioning as the “Layer 2 of Commitments,” StarkNet significantly reduces the load on Layer 1 (Ethereum on-chain), enabling faster and cheaper transactions. Through cryptographic commitments sent to Ethereum’s mainnet, StarkNet maintains compatibility with Ethereum’s robust security model while ensuring data integrity and security. Leveraging Zero Knowledge Proofs (ZKPs), specifically zk-STARKs, StarkNet marks a significant milestone in ZKP cryptography, providing privacy without compromising transaction verification.
Key features of StarkNet include low transaction fees, speed, and efficiency, making transactions cheaper and faster compared to Ethereum. Developers benefit from user-friendly development tools and Cairo, a native programming language optimized for the StarkNet environment. Additionally, StarkNet operates on its own virtual machine, Cairo VM (CVM), allowing innovations beyond Ethereum’s Virtual Machine (EVM) and offering unique options to users and developers.
The launch of the StarkNet Token (STRK) marks a significant milestone in its journey toward decentralization. With a total supply of 10 billion tokens distributed to approximately 1.3 million eligible wallet addresses, STRK plays a vital role in governance, fee payments, and network participation within the StarkNet ecosystem. The token distribution prioritizes inclusivity and community engagement by allocating tokens to users, contributors, and developers.
The planned distribution of STRK tokens between February 20 and June 20 aims to reward various participants in the StarkNet ecosystem. Eligible participants include early adopters, Ethereum contributors, and open-source developers, highlighting StarkNet’s commitment to decentralization and community governance. The StarkNet Foundation, behind the initiative, has also launched community-focused programs to encourage participation and advance its decentralization efforts.
Where to Buy STRK Coin?
STRK coin can be safely bought and sold on the world’s largest cryptocurrency exchange, Binance, known for its high trading volume. Listed on Binance on February 20, 2024, STRK coin became available for trading in pairs such as STRK/BTC, STRK/USDT, STRK/FDUSD, and STRK/TRY.
To buy STRK coin, one must first register on Binance if not already a member. After completing the registration process, users should transfer fiat currency, such as USD, or cryptocurrencies to their Binance wallet. Once the transfer is complete, STRK coin can be purchased using any of the available trading pairs.
To purchase via the STRK/USDT trading pair, navigate to its interface. In the limit section of the trading interface, enter the desired amount to be purchased. After entering the amount, finalize the transaction by placing a Buy STRK order.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
