StarkWare chief calls layer-1 shift urgent after Ethereum upgrade delay
StarkWare's chief executive said moving Starknet to a layer-1 structure is urgent after auditors paused Ethereum's Glamsterdam upgrade over contract vulnerabilities.
Key takeaways
- 1Ethereum's Glamsterdam upgrade was paused after auditors discovered smart contract vulnerabilities.
- 2StarkWare's chief executive stated that expanding Starknet into a layer-1 network is now more urgent.
- 3Ethereum trades at $2,237.50 with a market capitalisation of $273.4bn.
The chief executive of StarkWare said transitioning Starknet into a layer-1 blockchain has become even more urgent, following the delay of Ethereum's upcoming Glamsterdam network upgrade. Auditors paused the Glamsterdam update after discovering that the code could leave certain smart contracts vulnerable to attack.
The StarkWare chief also targeted the Bitcoin community, calling expectations around Bitcoin's eventual migration to quantum-resistant cryptography unrealistic. The comments link Starknet's push for layer-1 capability directly to security and timing risks associated with relying entirely on external blockchain infrastructure.
StarkWare operates Starknet as an Ethereum scaling solution, designed to process transactions off the main chain to reduce costs and increase speeds. Ethereum currently has a market capitalisation of $273.4bn and trades around $2,237.50, while Bitcoin holds a market cap of $1.53tn at $75,903. Major blockchain upgrades often face tight scrutiny due to past exploits targeting smart contract vulnerabilities across decentralised finance.
The pause on Glamsterdam shows that core developers and auditors are prioritising safety over rollout schedules to protect user funds. Starknet's plan to develop layer-1 capabilities suggests a broader push by scaling developers to reduce operational risks tied to Ethereum's upgrade roadmap. Industry observers will watch for updated security review findings from Ethereum auditors and concrete technical milestones from StarkWare in the coming months.
Reported and edited by the YourKhabri desk under our editorial policy. Nothing here is investment advice.