Starknet’s (CRYPTO: STRK) native token led weekly cryptocurrency gains as the network weighs a shift from an Ethereum (CRYPTO: ETH) Layer 2 to a standalone Layer 1 blockchain.
The L2 to L1 Buzz
STRK rallied 82% to emerge as the week’s top-performing cryptocurrency, leaving heavyweights such as Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) in the dust.
The coin’s market capitalization has more than doubled in the last 4 days, rising from $360 million to $807 million.
| Cryptocurrency | 7-Day Gains +/- | Price (Recorded at 1:00 a.m. EDT) |
|---|---|---|
| Starknet | +82.60% | $0.1065 |
| Bitway |
+53.80% | $1.67 |
| Bitcoin | -1.70% | $84,061.66 |
| Ethereum | -5.10% | $2,564.15 |
Gains were largely concentrated over the weekend after the network unveiled its long-term vision for safeguarding the protocol against a potential quantum threat.
CEO Eli Ben-Sasson said Starknet is actively considering transitioning to a Layer-1 for post-quantum agility instead of waiting on the timeline of Ethereum, the base layer.
Quantum Risks in Mind
Gains were largely concentrated over the weekend after the network unveiled its long-term vision for safeguarding the protocol against a potential quantum threat.
CEO Eli Ben-Sasson said Starknet is actively considering transitioning to a Layer-1 for post-quantum agility instead of waiting on the timeline of Ethereum, the base layer.
“The advantage would be control over the network’s security migrations, rather than having to wait for Ethereum or Bitcoin to move first,” Ben-Sasson said.
Photo: Sebastian Duda on Shutterstock.com
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