Vitalik Buterin Praises Starknet’s Efforts to Boost Ethereum Scaling Solutions

Vitalik Buterin praises Starknet v0.13.3 for cutting blob gas fees, enhancing scalability, and supporting ETH deflationary tokenomics model.
By Ronny Mugendi
Vitalik Buterin Praises Starknet’s Efforts to Boost Ethereum Scaling Solutions

Highlights

  • Vitalik Buterin praised Starknet's update, urging more rollups to adopt efficient data processing for improved Ethereum scaling.
  • Starknet v0.13.3 reduces blob gas fees, enhancing Ethereum Layer 2 scalability and transaction cost efficiency.
  • Blob gas fee burning boosts Ethereum's tokenomics, reducing ETH supply

Starknet, a Layer 2 scaling solution, has introduced version 0.13.3 to enhance Ethereum’s efficiency by reducing blob gas costs fivefold. Ethereum co-founder Vitalik Buterin praised the update on social media, recognizing Starknet’s strides in improving rollup data efficiency, a crucial aspect of Ethereum scaling.

Advertisement
Advertisement

Vitalik Buterin Applauds Starknet’s v0.13.3 for Cutting Blob Gas Costs by 5x

In a recent post on X, Ethereum co-founder Vitalik Buterin acknowledged the advancements introduced by Starknet with its v0.13.3 update. The update significantly improves Ethereum Layer 2 scaling by enhancing data efficiency.

The new version addresses the growing demand for blobs, which store transaction data in Layer 2 rollups. Ethereum’s Layer 1 blockchain eventually stores these blobs, increasing storage. The Layer 2 rollup update employs state-diff compression and transaction squashing to reduce blob gas fees, offering a more cost-effective solution for transactions on top layer-2 projects

Vitalik Buterin added, 

“One part of L2 scaling is Ethereum increasing its blob capacity. The other part is rollups becoming more data-efficient. Good to see Starknet rising to the challenge. Would love to see more EVM rollups increasing data efficiency too.”

Advertisement
Advertisement

How Blob Gas Fee Reductions Enhance Ethereum’s Ecosystem

Starknet has implemented two innovative solutions, state-diff compression and transaction squashing, to address the rising costs associated with blobs. Blobs store transaction data processed on Layer 2 rollups before being posted to Ethereum’s Layer 1 blockchain. With the growing demand for transactions, the space required for these blobs on the blockchain increases, driving up costs for users. 

These updates will reduce costs while ensuring efficient transaction processing and data storage, making Ethereum more scalable and cost-effective. Additionally, transaction squashing reduces the number of blocks by combining multiple transactions into a smaller batch, ensuring users pay only for the additional data their transactions contribute. Previously, every transaction bore the full cost of the data in each block, even if the data overlapped with other transactions. 

With the new update, the Layer 2 scaling solution now estimates the unique data contribution of each transaction and applies discounts for shared data. Alongside this, state-diff compression minimizes the size of the transaction data sent to Ethereum’s main network. Together, these updates cut blob gas fees and enhance affordability and efficiency in Ethereum’s ecosystem.

Beyond lowering fees, burning blob gas fees play a critical role in Ethereum’s tokenomics. Blob fees are permanently removed from circulation, similar to the burning of base transaction fees. According to Ultra Sound Money, over 100 ETH was burned in the last 7 days through blob fees alone. This mechanism reduces Ethereum’s supply, contributing to the asset’s deflationary model and long-term value proposition.

Additionally, speaking at Devcon 2024 in Bangkok, the Ethereum co-founder emphasized the importance of decentralization, scalability, and inclusivity in Ethereum’s ongoing development. In his keynote, Vitalik Buterin described Ethereum as a “world computer” powering a global decentralized economy. He highlighted the role of Layer 2 solutions like Starknet in advancing scalability and accessibility. 

Advertisement
Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.