- The average network latency over the past five days has dropped significantly.
- Starknet’s daily transaction count was significantly lower than other L2s.
Starknet’s long-awaited “Quantum Leap” upgrade began to deliver exciting results in terms of transaction throughput and latency.
According to a Twitter userthe time it takes for a transaction to be accepted on an L2 block has decreased significantly since the upgrade went live on Ethereum [ETH] mainnet on July 12. The data provided by user of Starknet’s block explorer Voyager revealed that from a maximum of 429 seconds, the average transaction latency over the past five days was reduced to 27 seconds.
Source: Voyager
TPS stagnates after first peak
The implementation of v0.12.0 was an important milestone in the zk rollups Step-by-step plan 2023with the aim of increasing capacity to accommodate the expected increase in users and developers.
The latest upgrade targeted 10x higher throughput. However, after an initial spike, transactions processed per second (TPS) have remained sluggish. According to the chart below, the average TPS on Starknet over the past five days was 2.1. Compared to the double digits of the base layer, this was disappointing.
Source: Voyager
Even compared to other L2 networks, Starknet underperformed. The number of daily transactions executed on the network has remained significantly lower than optimistic rollups like Arbitrum [ARB]Optimism [OP] and the popular zk rollup zkSync Era, according to data from Artemis.
Source: Artemis
But despite its shortcomings, proponents remained optimistic about Quantum Leap.
TVL remains at the bottom
With higher throughput, Starknet hoped to attract more sophisticated decentralized finance (DeFi) and gaming applications. This could increase the total locked value (TVL).
As of July 16, the TVL of the L2 solution was just $19.22 million, a fraction of Arbitrum and zkSync Era, and also trailing Polygon zkEVM’s total assets significantly.
Source: Artemis
Plan to make Starknet affordable
Starknet’s next big focus was lowering transaction costs. As part of v0.13.0, L1 (Ethereum) data charges, which account for 95% of transaction costs, would be targeted using Starknet’s Volition.
From L2 charges, transaction fees on Starknet were one of the highest of any rollup. It took $0.21 to send one ETH on Starknet, compared to $0.05 on Arbitrum, $0.03 on Polygon zkEVM, and $0.04 on Optimism.
