Starknet Achieves Stage 1 Decentralization With $629 Million TVL
Starknet has reached a key milestone in decentralization, becoming the largest zero-knowledge rollup network by total value locked (TVL) at $629 million. This achievement follows Ethereum co-founder Vitalik Buterin's "Stage 1" decentralization framework.
- Starknet implemented changes like censorship-avoidance mechanisms and established a security council.
- The network now operates with a validity proof mechanism governed by smart contracts.
- It outperforms its closest competitor, zkSync, which holds $610 million in TVL.
- Starknet ranks fifth in the Layer-2 ecosystem by TVL, behind four Optimistic rollup networks.
- Fraud proofs are based on invalid transaction verification, while validity proofs require cryptographic backing.
Eli Ben-Sasson, CEO of StarkWare, stated: “Our goal is for the training wheels to come off completely and to reach Stage 2 decentralization on Ethereum…”
Currently, Coinbase's layer-2 network Base leads with $14.7 billion in TVL, giving it a 33% market share, compared to Starknet's 1.4%. The overall Layer-2 ecosystem secures $44.2 billion in on-chain value.