Makerdao Plans to Integrate Ethereum L2 Solution Starknet to Lower DAI Transaction Costs – Technology Bitcoin News - BitcoinEthereumNews.com
The decentralized finance (defi) project Makerdao has anounced its plans to support the zero-knowledge (ZK) rollup solution Starknet in order to make DAI transactions faster and network costs cheaper. Starknet will be integrated into the defi protocol on April 28, 2022, as part of Makerdaos multichain strategy expansion. Makerdaos Multichain Strategy Expansion Grows With Starknet Support On Wednesday, the development team behind the Makerdao project revealed plans to integrate the Ethereum layer two (L2) scaling solution Starknet. The protocol Starknet is a product developed by the startup Starkware and it offers an L2 scaling solution with ZK-based computations that utilize validity proofs. Makerdao is the issuer of the stablecoin DAI, and after Starknet is supported the team believes it will make DAI “minting, trading and liquidation significantly faster.” Starknet‘s Makerdao integration follows the project’s bridge deployments on Arbitrum and Optimism. A project contributor from Starknet Core Unit at Makerdao detailed that cross-chain bridge technology has swelled because of expensive gas fees. “As we see unsustainable gas fees drive more activity and users to a wider variety of blockchains, security challenges that come with bridging will continue to grow,” the Starknet Core Unit contributor said in a statement sent to Bitcoin.com News. Projects must move