Overview of the Value of StarkNet Ecosystem: Representative Projects, Development Prospects, and Limitations

StarkNet Ecosystem: Projects, Prospects, and Limitations

Bing Ventures has written an analysis of the notable projects and growth stages of StarkNet’s ecosystem. They state that the key to the success of the StarkNet ecosystem is its technical superiority, developer support, use cases, and ecosystem support. If they can attract more developers and users in the future, the potential of their ecosystem may be even greater.

Notable StarkNet ecosystem projects include: 1) DeFi: permissionless and composable AMM protocol JediSwap, DeFi lending protocol Morphine, cross-chain solution Orbiter Finance, and decentralized exchange DeversiFi built by the Mesh Finance community; 2) NFT/Gaming/Metaverse: Loot derivative project Realms, NFT creative agency RYG.Labs building interactive dynamic NFTs and offering NFT marketing solutions, and Metaverse game The Ninth; 3) Other Web3 innovations: first StarkNet-supported wallet Argent X, Bravvos, carbon-tracking system Carbonable based on StarkNet, DAO-based ecosystem Catalyst Dolven Labs, and cross-chain data access solution Herodotus building Proof of Storage.

StarkNet growth pains include: 1) Competition: many other Layer2 scaling solutions are striving for development and even have advantages over StarkNet in some aspects, so StarkNet needs to constantly innovate in technology; 2) Network effects: as a relatively new technology, a large number of developers and users need to join to establish a strong network effect; 3) Ecosystem sustainability: StarkNet needs to continue to innovate and provide attractive features to maintain user loyalty and attractiveness; 4) Participation restrictions caused by Cairo language: as Cairo is a new language, developers need to learn and adapt to this new programming language, which restricts their ability to participate in the StarkNet ecosystem; 5) High throughput and low transaction costs are only advantageous in specific use cases.

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StarkNet development prospects include: 1) Full-chain gaming: StarkNet’s high throughput and low transaction costs make it an ideal choice for full-chain gaming; 2) Contract wallet field: StarkNet’s native account abstraction allows contract wallets to achieve functionality similar to hardware wallets. In addition, StarkNet’s signature verification is highly programmable, and can be optimized at the wallet layer through signature transcription technology to improve the performance and security of contract wallets; 3) Cross-chain communication: StarkNet’s decentralized nature and security design make it a reliable cross-chain communication solution; 4) On-chain AI field: StarkNet’s technical characteristics allow off-chain execution of computation and proof generation, and verification on-chain.

Reference: https://mirror.xyz/0x867A3f354c0eCB6622aEf1bF14C3BE79338AD889/jvCX1EVgHe3Tck1TdnPVn-R6Ev4xc8zJG7FYShXGlaw

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