StarkWare, the company behind the Ethereum layer 2 scaling solution Starknet, plans to significantly enhance its network's performance and reduce fees in anticipation of increased blockchain activity and gas price spikes in the coming months.

Starknet aims to achieve a four-fold increase in transaction speed, surpassing the 1,000 transactions per second (TPS) milestone and potentially rivaling the likes of Solana, which typically processes between 800 and 1,050 non-vote TPS.

In addition to the speed improvements, Starknet intends to reduce its already low fees by five times, making it potentially the most cost-effective layer 2 solution compared to its competitors. Show Less