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StarkWare, the company behind a layer 2 scalability solution, has launched its new StarkNet Token (STRK) on the Ethereum mainnet. The charity StarkNet Foundation, which controls the development of the ecosystem, is figuring out the optimal method for dispersing the tokens at this time. Thus, it is vital to note that they are not currently accessible for purchase to avoid fraud. https://twitter.com/StarkWareLtd/status/1592897313273712640
The Objective of StarkNet Crypto Token
The StarkNet Token was created to assist StarkNet in achieving decentralization through voting, staking, and fee payments. The network's vibrant developer community and StarkWare $8 billion value given during a fundraising round earlier this year all contribute to the high visibility of the token launch. The Ethereum blockchain has scalability issues that reduce transit and elevate gas, or processing fees, as the volume of transactions rises. the solution of Starkware solves these issues. To lessen the computational load, the company's backup and restore technologies combine several transactions from the primary blockchain.
StarkWare Disclosed Additional Tokens
Recently, StarkWare disclosed that 5.01 billion additional tokens, or 50.1% of the total supply, will be donated to the StarkNet Foundation. For four years, the tokens owned by StarkWare investors, workers, and autonomous associate developers remain locked up. After that, they will begin to release gradually. Although they cannot be sold or exchanged, the frozen tokens can be used for voting and staking.