Starknet explores move from Ethereum Layer 2 to standalone Layer 1 blockchain

Starknet has initiated a non-binding vote to explore the possibility of transitioning from an Ethereum Layer 2 solution to an independent, quantum-resistant Layer 1 blockchain. This vote, which is not intended to immediately approve any network transition, seeks community input on whether to fund further research into the proposed move. Starknet, known for its use of STARK proofs, plans to maintain its native token, STRK, without introducing a new token. The proposal indicates a shift towards greater autonomy from Ethereum’s infrastructure while keeping the Ethereum bridge open. The announcement has led to increased scrutiny in prediction markets, particularly concerning Ethereum’s price trajectory in October. With the potential shift suggesting reduced dependency on Ethereum, markets have adjusted the likelihood of Ethereum reaching certain price targets. Some market participants appear to interpret this development as introducing uncertainty around Ethereum’s ecosystem stability, reflecting a moderate decrease in the probability of Ethereum achieving higher price points this month. Key Takeaways Starknet’s non-binding vote suggests exploration into a transition from Ethereum Laye...