In its v0.13.2 update, Starknet has unveiled features like 'Parallel Execution' and 'Block Packing,' designed to elevate transaction processing efficiency.

Ethereum Layer 2 network, Starknet The announcement regarding the v0.13.2 upgrade highlights its purpose: to bolster the future usability of the network by expediting transaction confirmations, along with improving cost-effectiveness and overall performance. Noteworthy features like 'Parallel Execution' and 'Block Packing' are included in this upgrade.

'Parallel Execution' empowers the Starknet sequencer to handle transactions concurrently, thereby enhancing the network's ability to support various use cases in the future. This advancement is expected to shorten confirmation times significantly, as parallel processing is inherently quicker than handling transactions one after the other.

Thanks to 'Block Packing', the confirmation times for Layer 2 transactions could potentially drop to around 2 seconds for about 80% of transactions, and it will also reduce Layer 1 costs per block by as much as 66%. Moreover, the timing for Layer 2 blocks is set to decrease to roughly 20-60 seconds. This improvement is achievable due to the separation of Layer 2 block frequency from Layer 1 expenses.

The objective of Starknet is to enhance network capacity beyond what is currently demanded. 'Parallel Execution' significantly contributes by enabling the sequencer to handle multiple independent transactions simultaneously.

While 'Parallel Execution' boosts the efficiency of transaction handling, 'Block Packing' optimizes the next phase where individual transactions are compiled into blocks. This approach utilizes a 'batching' method that merges multiple transactions into broader units, effectively distributing Layer 1 costs across a larger number of transactions. Consequently, the frequency of Layer 2 blocks is decoupled from Layer 1 expenses, which accelerates block production and lowers transaction costs.

Starknet is experiencing a notable decline in both daily active users and transaction volume.

Starknet Recently, there’s been a significant drop in daily active users (DAUs), plummeting nearly 90% from the year's beginning, which saw numbers around 60,000 taper down to about 6,000.

Simultaneously, Starknet's daily transaction figures have also substantially dwindled. In contrast, Starknet's rivals have encountered similar declines in active addresses, while networks like have seen an uptick in active addresses during the same timeframe. ZKsync Please be aware that the content found on this page is not designed to serve as legal, tax, investment, financial, or any type of advice. It’s essential to invest only what you can afford to lose and to seek independent financial counsel if there are any uncertainties. For additional information, we recommend reviewing the terms and conditions as well as the support resources offered by the issuer or advertiser. MetaversePost is dedicated to delivering accurate and impartial reporting, yet market dynamics can fluctuate without prior warning. Linea Alisa, a passionate journalist at Cryptocurrencylistings, focuses on cryptocurrencies, zero-knowledge proofs, investments, and the broad world of Web3. With her astute perception of emerging trends and innovations, she provides thorough insights that engage and educate readers navigating the constantly changing digital finance landscape.