StarkNet is a permissionless decentralized ZK-Rollup, also known as a Validity Rollup, developed by StarkWare as a Layer 2 scaling solution for Ethereum. It aims to enhance transaction throughput and reduce costs while maintaining the security of Ethereum's Layer 1.

At the core of StarkNet's technology are zero-knowledge proofs (ZKPs), specifically STARKs (Scalable Transparent ARguments of Knowledge). ZKPs allow one party to prove the truth of a statement to another without revealing any additional information.
StarkNet employs a Validity Rollup approach. It bundles multiple transactions off-chain, processes them, and generates a cryptographic proof (validity proof). This proof is then submitted to Ethereum's mainnet, ensuring the transactions are valid and verifiable.

Scalability is a major benefit of StarkNet. By processing transactions off-chain and submitting only the proofs on-chain, StarkNet can achieve higher transaction throughput compared to Ethereum's Layer 1. This is essential for DeFi, NFTs, and other applications requiring high scalability.

A key advantage is low gas costs. Since most computations happen off-chain, the gas fees are considerably lower. Users still pay a fee, but it's spread over many transactions, making individual transactions cheaper than on Ethereum's Layer 1.

StarkNet supports composability, meaning different smart contracts and dApps can interact seamlessly. This is vital for the interconnected ecosystem of DeFi applications and other use-cases that benefit from interoperability.

StarkNet is developer-friendly. It provides comprehensive tools and documentation for developers. Smart contracts are written in Cairo, StarkWare's programming language optimized for scalability and efficiency on StarkNet.
In summary, StarkNet represents a major leap in Ethereum's scalability by using zero-knowledge proofs and validity rollups. It offers high throughput, low costs, and strong security, enabling a new range of high-performance, cost-effective dApps