Starknet (STRK), the native token of Ethereum-based blockchain Starknet, surged over 55% in one week to $0.08678 (approximately 116 KRW) as of 9 AM on the 16th, according to CoinMarketCap. The rally followed discussions on transitioning to an independent blockchain and the launch of a privacy protection service. Market capitalization stood at $644.12 million (approximately 865.05 billion KRW) with 24-hour trading volume reaching $448.43 million (approximately 602.24 billion KRW).
Starknet Foundation Initiates Vote on Independent Blockchain Transition
On the 14th (local time), the Starknet Foundation started a 7-day vote asking whether to formally consider transitioning to an independent blockchain. If the vote passes with majority support, the foundation will proceed with additional research and develop a concrete transition plan. However, the transition itself has not been confirmed.
Starknet currently operates on the Ethereum network. According to the foundation, transitioning to an independent blockchain would allow the network to prepare for quantum computer threats without waiting for Ethereum's technical development.
StarkWare Launches Shadow Accounts Privacy Feature
On the 13th (local time), StarkWare launched the Shadow Accounts feature, which conceals the connection between a user's main wallet and transaction activity. With this feature, even if someone reviews blockchain transaction records, it becomes difficult to easily identify which main wallet owner conducted the transaction.
The independent blockchain transition discussion and expanded privacy protection services increased expectations for technological development and business expansion, contributing to STRK's price surge.
FAQ
What caused Starknet (STRK) to surge 55% in one week?
STRK rose 55.97% in one week following the Starknet Foundation's initiation of a vote on the 14th (local time) regarding transitioning to an independent blockchain, and StarkWare's launch of the Shadow Accounts privacy feature on the 13th (local time).
What is the Shadow Accounts feature launched by StarkWare?
Shadow Accounts is a privacy feature that conceals the connection between a user's main wallet and transaction activity, making it difficult for others reviewing blockchain transaction records to easily identify which main wallet owner conducted the transaction.
