StarkWare, the developer of the Layer 2 network Starknet, has announced plans to increase transaction throughput by four times and reduce fees by five times to accommodate expected growth in user activity. CEO Eli Ben-Sasson shared these updates in an interview with Cointelegraph.

Performance Improvements and Fee Reductions

Ben-Sasson explained that the performance enhancements will focus on optimizing the compilation and execution of Cairo, Starknet’s native programming language. The planned updates, which aim to boost the network’s throughput and lower transaction costs, are expected to roll out within the next three months.

On October 29, Starknet set a record with an average throughput of 127 transactions per second (TPS). After the upgrades, this figure is projected to exceed 1,000 TPS, surpassing current rates of competing networks like Solana, which processes 800 to 1,050 TPS.

Additionally, Starknet plans to reduce transaction fees from $0.002 to $0.0004, making it one of the cheapest networks. For comparison, the average transaction fee on Optimism over the past week was $0.0014.

Preparing for Increased Activity

The CEO anticipates that the lower gas fees and higher throughput will be fully implemented within the next year, positioning Starknet to handle increased market activity.

A reduced gas price is already live in the test network through Starknet v0.13.3. The mainnet release of this update is expected by the end of the week.

Endorsement from Vitalik Buterin

Vitalik Buterin, co-founder of Ethereum, has endorsed Starknet’s efforts to create more efficient rollups, recognizing them as a critical component of scaling Ethereum’s Layer 2 solutions.