Hashstack, a non-custodial ZK-native market protocol, has announced a major move to Starknet. Hashstack seeks to optimize Starknet’s features in order to speed the development of its operations.
The move of Hashstack to Starknet is aimed at weaning the network off the EVM chain and onto the ZK interface. Furthermore, the move will enable Hashstark to build the infrastructure required to employ distributed finance (Defi). This will allow for widespread financial inclusion of the unbanked through cryptocurrencies.
EVM Chains Hashstack Dump for Zk-Primitives
Furthermore, Starknet was the first multi-dimensional decentralized ZK-Rollup platform to use Open-Hashstack. On the public blockchain, the Hashstack protocol will assure the safety of under-collateralized loans.
More crucially, Starknet is an Ethereum-based Layer 2 network that enables dApps to perform unrestricted research techniques. This has no effect on Ethereum’s security foundation or ability to be compatible with other protocols.
ZK-rollups can manage hundreds of off-chain transactions at the same time due to its scalability. Furthermore, the standards are crucial for addressing network load on the Ethereum platform.
The Ethereum blockchain’s high fees and slow processing time would become obsolete. Instead, zk-rollups always provide a signal known as a non-interactive argument of knowledge (SNARK) to demonstrate the application’s validity.
In other words, the protocol will only keep proof of authenticity on the main Ethereum platform. Surprisingly, this has resulted in ZK Rollups being the cheapest and quickest option to authenticate transactions.
Why Did Hashstark Choose Starknet
Market-Ready ZK? – Rollups are hard to come by, and Starknet currently has the greatest infrastructure for them. Starknet has handled over $205 million in transactions and $657 billion in trading activity. Furthermore, the protocol has a significant network of skilled developers who have worked on several applications on the platform.
Cairo Lang, a digital machine that powered Starknet’s activities, was created. Cairo is intended to change machine language and works similarly to Python, but with far greater freedom.
Furthermore, unlike Solidity, Cairo offers access to higher levels of primitives with fewer limitations while being used.
DeFi has grown at an extraordinary speed, with enterprises searching for the next step in scaling up their services. Hashstack is looking for a stable facility to help it expedite its upscaling efforts and broaden its use of DeFi.
Furthermore, it aims to build a clear and international DeFi environment in order to just provide consumers all over the world with a standard digital banking experience.
DeFi is a revolutionary financial intermediary that experts believe is required to close the gap in areas not covered by the traditional system. The emergence of decentralized finance platforms is seen as a result of a need.
It includes a mix of blockchain, digital assets, and financial services middlemen. The large number of individuals who are unbanked or underbanked globally demonstrates that the traditional financial system is not inclusive.
DeFi has proven that it is irrepressible and that it is here to stay as long as the world is moving digitally.