StarkWare CEO Eli Ben Sasson said he expects transaction speeds on the company's Layer 2 Ethereum Starknet to increase fourfold while fees will decrease by "" over the next three months.
The network improvements will come primarily from “better and faster execution” on Starknet’s native Cairo smart contract language , Sasson told Cointelegraph at DevCon 2024 in Bangkok last week.
This would allow Starknet to pass the ,000 transactions per second milestone and compete with Solana, which typically processes a non-voting TPS of between 1,050 and 1,050, according to data from Solana Compass.
Starknet's TPS will surpass 1,000 or more in the " next three months," Ben
“You can take it to the bank.”
Fees on the already cheap Starknet will be vastly reduced, too, Ben Sasson added.
should have both 5x lower transaction costs on Starknet, probably making it the cheapest L2.”
Reducing fees is a priority for Ben Sasson’s firm as it expects a boom in blockchain activity and a resulting “spike in gas prices and block prices.”
While Starknet can process 200 or more TPS over short periods, it averaged a network record 129 TPS on Oct. 29, Ben Sasson’s firm confirmed on Nov. 12.
Starknet actually notched a peak of 857 TPS around the same time, though that was achieved in a controlled stress test.
Meanwhile, network fees on Starknet remain “ultra-low” at a median of $0.002 per transaction.
Related: Nansen scales analytics beyond Ethereum with Bitcoin L2 integration
Starknet is the third-cheapest Ethereum layer 2 behind Optimism and Blast at $0.0013 and $0.002 over the last 30 days, according to Starknet’s Dune Analytics dashboard.
All three Ethereum layer 2s have been cheaper than Solana over the last 30 days, which has seen its average non-vote transaction fee fluctuate between $0.001 and $0.11 over the last two months, other Dune Analytics data shows.
StarkWare is also looking to introduce the