Starknet community approves STRK to charge transaction fees
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Although STRK has yet to officially launch, the Starknet community has expressed overwhelming support for the upgrade aimed at introducing a native cryptocurrency as a Gas token.
Starknet’s representation reached 99.8% vote Implementing Alpha version 0.13.0 on its mainnet as no member of the Starknet Governance Committee opposed the proposal. The update aims to enable a dual-token system, allowing Ethereum Layer 2 (L2) network users to settle gas fees in Ether (ETH) or STRK.
Following the overwhelming results, the L2 protocol will activate v.13 on January 10th. However, since the native token has not yet been released, users will not be able to use STRK to pay for transactions immediately.
The dual fee structure is only half of Starkent’s proposed update. Alpha v.13 will also significantly reduce gas costs by 50% and optimize network performance through technical improvements.
Starknet scales Ethereum’s blockchain with a rollup solution built on zero-knowledge, providing cheaper fees and faster transactions. It currently costs less than $1 to send ETH and exchange other ERC-20 tokens through STRK’s decentralized network.
To achieve this, the protocol bundles transactions on an off-chain layer and then broadcasts the same on-chain operations on the main Ethereum chain.
Launched in February 2022 by Israeli blockchain company StarkWare Industries, the Ethereum scaling network plans to distribute 1.8 billion STRK tokens among user rewards, with at least 50 million tokens designated for early adopters.
There is speculation that network participants and users will conduct general community airdrops.
