Starknet Launches Parallel Execution Feature on Testnet, Prepping for Mainnet Release

Starknet, a prominent Ethereum layer-2 scaling solution, has launched its much-anticipated parallel execution feature on the testnet

Starknet, a layer-2 scaling solution for Ethereum, has now introduced parallel execution on the testnet. This feature is set to massively boost the network's processing speed and efficiency, with a broader mainnet release expected within weeks.

Announced on August 21 via X, Starknet version 0.13.2 is now live on the testnet, with a full deployment on the mainnet expected in the near future. This update will notably introduce "parallel execution," a feature that will allow multiple transactions to be processed simultaneously instead of sequentially. Previously, transactions had to wait for one another, but this enhancement is set to significantly increase the network's throughput and capacity, according to Starknet’s developers.

Prior to the implementation of version 0.13.2, Starknet processed transactions in a linear sequence. However, the new parallel execution model will allow the network to handle multiple transactions at once, promising a substantial boost in both speed and overall network performance.

This update comes as Starknet's ecosystem is set for further developments. On August 20, StarkWare, the team behind Starknet, kicked off its first mainnet governance vote for STRK token holders. The proposal up for consideration will introduce staking to the network, outlining the details of the mechanism with a full launch expected by October 2024.

The rollout of staking will begin with a testnet in September, followed by a mainnet launch in Q4 2024. The proposal also includes guidelines for the minting process and the adjustment of staking parameters, enabling the Starknet community to directly influence these critical decisions.