Starknet, a layer-2 blockchain, has released a significant upgrade named version 0.13.2, enabling parallel transaction processing. This update, as per a press release shared with Cointelegraph, allows Starknet to handle multiple transactions simultaneously, a first for an L2 network on Ethereum mainnet. CEO Eli Ben-Sasson described L2 blockchains as 'minimarkets with a single checkout.' The new parallel execution feature addresses the bottleneck issues of sequential transaction processing on L2 networks during high demand. Testing of this feature began on Aug. 7 and will be live on Aug. 28. Additionally, the upgrade includes 'block packing' to enhance transaction speed and reduce confirmation times. This development aims to optimize block space by efficiently filling blocks with transactions. The confirmation time is expected to decrease from 10-80 seconds to just two seconds, improving further with increased network participation. The upgrade marks a significant step for Starknet, following the closure of ZKX Protocol, a social derivatives trading platform on the network. Read more AI-generated news on: https://app.chaingpt.org/news