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Crypto

How Ethereum layer2 can differentiate from layer1? Starknet\'s privacy push in focus

Competition among Ethereum layer2 networks has entered a new phase as Vitalik Buterin puts more weight on strengthening layer1. That leaves layer2 chains needing to differentiate in areas Ethereum cannot or does not pursue. A key word Buterin highlighted is privacy. Crypto media Bankless pointed to Starknet, a layer2 developed by StarkWare, and its STRK20 standard that makes ERC-20 tokens private by default through a “privacy pool.”

Crypto

Starknet unveils STRK20 framework to support privacy-focused stablecoins and assets

Starknet has unveiled the STRK20 framework to strengthen privacy and support teams issuing shielded stablecoins and other assets under regulatory compliance, The Block reported on Monday. Due to be applied to Starknet later this year, it provides token-level privacy for assets issued on the Ethereum layer-2 network while keeping transactions and balances private and ensuring compatibility with DeFi applications. It is designed to work with ERC-20 tokens.