Ethereum Layer 2 network, Starknet announced the implementation of the v0.13.2 upgrade. This update aims to enhance the network’s future use case potential by speeding up transaction confirmation times and further improving cost efficiency and performance. The upgrade introduces key features such as “parallel execution” and “block packing.”
Parallel execution allows transactions within the Starknet sequencer to be processed simultaneously, increasing the network’s capacity to accommodate future use cases. This feature is anticipated to reduce confirmation times, as executing transactions in parallel speeds up the process compared to sequential execution.
Block packing will reduce Layer 2 transaction confirmation times to approximately 2 seconds for around 80% of transactions while also cutting fixed Layer 1 costs per block by up to 66%. Additionally, Layer 2 block times will be shortened to about 20-60 seconds. This improvement is made possible by decoupling Layer 2 block frequency from Layer 1 costs.
2-second txs are here 
Parallel Execution and Block Packing are now live on Starknet mainnet!
With higher TPS capacity, more frequent blocks and faster tx confirmation time, Starknet is now smoother than ever.https://t.co/x7oPTYByB4 pic.twitter.com/Z23OKboPlT
— Starknet 
(@Starknet) August 28, 2024
Starknet’s goal is to increase network capacity beyond current requirements. Parallel execution enhances this capacity by allowing the sequencer to process multiple independent transactions at the same time.
While parallel execution enhances efficiency during transaction processing, block packing optimizes the subsequent step, where transactions are grouped into blocks. This method applies “batching” logic to the blocks, combining multiple blocks into a larger unit, which distributes Layer 1 costs across a higher number of transactions. As a result, Layer 2 block frequency is separated from Layer 1 costs, leading to faster block times and reduced transaction costs.
Starknet Witnesses Drop In Daily Active Users And Transactions
Starknet has recently seen a decline in daily active users (DAUs), dropping nearly 90% since the start of the year, from around 60,000 to approximately 6,000.
Meanwhile, the daily transaction volumes on Starknet have also experienced a substantial decrease. On the other hand, Starknet’s competitor, ZKsync, has faced a similar reduction in active addresses, while other networks like Linea and Scroll have reported increases in active addresses during the same period.
The post Starknet Unveils V0.13.2 Upgrade With ‘Parallel Execution’ And ‘Block Packing’ For Improved Transaction Processing appeared first on Metaverse Post.