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While the Ethereum network’s move to Proof of Stake (PoS) has been highly anticipated, Starkware co-founder Eli Ben-Sasson offered his thoughts on its execution and future possibilities.
Speaking with Cointelegraph’s Gareth Jenkinson at the Token2049 event, Ben-Sasson shared his thoughts on the current situation post-Merge and how it might affect Layer 2 projects like Starkware. In addition to that, executives also gave their thoughts on the adoption and interest in Layer 2 products and crypto winter.
Reflecting on the execution of the Ethereum merge, Ben-Sasson was pleased with how flawless the transition was and said things just happened as a matter of course. A senior official explained:
“Most importantly, it was executed perfectly. Everything that was supposed to happen happened. And nothing that people were worried about happened. It’s news.”
In addition, executives also stressed the importance of a new Ethereum network that is better for the environment. is,” he said.
According to Ben-Sasson, Merge will also make Ethereum a better payment layer and a more usable platform for Layer 2 solutions. Executives emphasized that this is a very important development for Starkware’s products. This allows us to provide scaling, compression of computations, and other improvements that technology can provide.
Related: Chinese GPU Prices Fall to New Lows After Ethereum Merger
Ben-Sasson also shared that apart from the Ethereum merge, most of the adoption and interest in Starkware solutions has come from projects that have also been successful on Layer 1 Ethereum. This includes non-fungible tokens (NFTs), blockchain games, and decentralized finance (DeFi). In addition, executives shared their hopes for the future. He said:
I expect that at some point being able to do much larger computations with a very small gas footprint will give rise to entirely new and unexpected applications that will become much more important.
He shared his belief that their team feels different, even though many are calling the current state of affairs in the cryptocurrency and blockchain space a cryptocurrency winter. “It feels like spring heading into a crisp summer,” he said.
