Starknet Unveils Parallel Execution Upgrade Version 0.13.2

Layer-2 blockchain Starknet has released a significant update called version 0.13.2 that adds parallel execution to its network features.

With quicker transactions and parallel processing, Starknet’s v0.13.2 update redefines Layer 2 scaling on Ethereum.

The update will enable Starknet to handle numerous transactions simultaneously. It is the first of its kind for an L2 network on the Ethereum mainnet, according to a press release.

L2 blockchains are similar to “minimarkets with a single checkout,” according to Eli Ben-Sasson, CEO of StarkWare and the Starknet Foundation board member, who explained this in the news release.

“We’re becoming the first ‘megastore L2’ – overhauling our sequencer so that numerous checkout lanes simultaneously handle countless transactions.”

Implications of parallel execution

Sequential transaction processing limits, typically observed on L2 networks, are addressed via parallel execution. This prevents bottlenecks from forming during periods of heavy demand.

The press announcement states that Starknet’s parallel execution, a component of the 0.13.2 update, has been available on testnet since August 7 and will launch on August 28.

According to Ben-Sasson, the new function is “a common-sense change,” he anticipates that other networks will adopt it as “an industry norm.”

“…our challenge as an industry is to build infrastructure that’s ready for anything. It needs to always be many steps ahead of demand, which is why parallel execution is going live now.” 

Block Packing

The update will also provide a new feature called “block packing,” which tries to shorten confirmation times in addition to parallel processing.

The new feature, according to the press release, “packs blocks with transactions more efficiently” to lower expenses and speed up transactions by packing blocks full of transactions without any “space.”

As more users join the network, block packing will cause Starknet’s confirmation time to decrease from its current range of 10-80 seconds to two seconds.

“The beauty of L2 scaling is that it has the potential to drive costs down instead of up as more users join a network, and block packing is a prime example of this.”

Shutters based on the Starknet protocol

This most recent Starknet update comes after ZKX Protocol, a Starknet-based social derivatives trading platform, was shut down due to a lack of a “financially viable path.”

The founder of ZKX, Eduard Jubany Tur, stated on July 30 that the company’s user interaction has been “minimal, with only a few individuals” mining incentives for native tokens.

Tur clarified that ZKX had terminated its holdings, delisted from all markets, and restored all money to each user’s trading account.