From Decentralization to Interoperability: Starknet Journey with Informal Systems

The route to this collaboration began in the spring of 2023, with technical conversations centered on decentralizing Starknet's L2 utilizing the

Starknet, an Ethereum layer-2 (L2) network, is collaborating with Informal Systems to integrate the Inter-Blockchain Communication (IBC) protocol into Starknet. This integration will enable application composability across various L2 and layer-1 (L1) networks.

The integration of IBC will allow for the bidirectional flow of liquidity between Starknet and the wider interchain, promoting increased interoperability and ecosystem cohesiveness.

This partnership follows technical conversations that began in spring 2023, centered on decentralizing Starknet’s L2 using the Tendermint consensus protocol. Informal Systems, known for their deep expertise with CometBFT, provided valuable contributions to these discussions.

Initially focused on decentralization protocol design, the partnership has recently expanded to include interoperability and the fragmentation of blockchain ecosystems.

Josef Widder, Director of Protocol Engineering, and Adi Seredinschi, Director of Product, will be discussing the status and thoughts on Malachite, Starknet’s decentralized sequencer implementation, on July 10th at StarknetCC.

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Malachite uses the Rust-based Tendermint consensus algorithm, aiming to achieve production-grade decentralization and interoperability. A decentralized sequencer is designed to be fault tolerant and censorship resistant, ensuring ongoing transaction inclusion even during network disruptions.

In other news, Chainlink Data Feeds have been launched on Starknet’s mainnet, enabling developers to create scalable and secure DeFi applications.

These feeds are provided by independent, dependable node operators who gather information from a variety of high-end APIs and are resistant to Sybil attacks. This integration is a critical step in providing stable data infrastructure for Starknet’s expanding DeFi ecosystem.

Meanwhile, Starknet’s total value locked (TVL) has fluctuated, according to a previous CNF report. In February, Starknet’s TVL hit $1 billion, propelling it to fourth place among Ethereum L2 solutions. However, the current TVL stands at approximately $300 million.

Starknet’s native token, STRK, is now trading at around $0.5276, representing a 1.92% loss over the last 24 hours. On a weekly basis, the token’s price appears to be creating a Double Bottom pattern, indicating that it may fall lower.