Starknet Unveils Version 0.13.0: Reduced Fees, V3 Protocol, Future Enhancements

A notification has been issued by Starknet announcing the availability of version 0.13.0 on testnet. Furthermore, it is purported to have two significant attributes: decreased transaction fees and the ability to execute transactions utilizing the V3 protocol.

Presently, this endeavor is being conducted to lay the groundwork for forthcoming features that will be available for use. This specific classification includes, among other alternatives, Paymaster, Fee Market, and Volition Mode.

By utilizing V3 transactions, users can optimize the worth of their STRK assets, which precisely aligns with the objective of said transactions. These funds will be employed to cover transaction fees associated with the fulfillment of payments.

At present, Ether stands as the token deemed suitable for acceptance; furthermore, the native token shall be appended to the roster of acceptable tokens. It is imperative to remember that the deployment of STRK is contingent upon its transfer to an alternative institution.

The primary emphasis in the implementation of STRK will be on the utilization of L1 gas. Oracles will be tasked with verifying the precision of fees associated with STRK/gas transactions.

Pragma and Switchboard support the Oracle services, and a manual price-setting conversion is an option.

The Cairo phase or built-in charges have been decreased by 50% due to the substantial reduction in transaction fees introduced by version 0.13.0 of Starknet.

Consequently, the accessibility of L1 data for DA consumers is enhanced by 10% universally. It provides a reduction of 240 gas for each transaction and an additional reduction of 312 gas for each updated contract. This constitutes an extra advantage that it provides.

A fifty percent reduction in the Cairo phase and a ten percent enhancement in the availability of L1 data for DA across the board will be achievable in the coming days due to the expanding block size.

These two improvements will become feasible due to the increasing block size. In the context of storage updates, it is hypothesized that the quantity of batching performed by the system will increase by a factor of two when the block size is doubled from its present level.

Moreover, this holds for fixed and general gas reductions alike. As a consequence, users will be granted a rationale for cost reductions.

The community will be granted the opportunity to vote on the new Starknet Governance Hub before its effective implementation as time progresses. Conversely, the Goerli testnet is hosting version 0.13.0 of the Starknet, which is now accessible for testing and development purposes.

Anticipated future enhancements will comprise the following functionalities: the Fee Market, Paymaster, and Volition Mode. Users can contend for blockspace during periods of heavy congestion using the Fee Market solution.

Users will be able to maximize the utilization of the available space. The potential for accomplishing the same task earlier may become feasible. Priority will be granted exclusively to those individuals who are prepared to make a monetary investment.

By utilizing Volition Mode, users can obtain a more economically viable substitute for the costly option of L1 data availability. This is achieved through the implementation of Volition Mode. In addition, L2 data is accessible, constituting a financially viable alternative option.

The Ethereum EIP-4437 serves as a model for the Paymaster platform, which facilitates the payment of transaction fees by organizations on the sender’s behalf. There is an expectation that implementing native account abstraction will lead to a heightened degree of convenience.

Furthermore, STRK tokens are not commercially available at this time. The new Governance Hub has elicited a favorable response from the community, as most members have expressed their delight.

The community has expressed great enthusiasm in response to this. Specific individuals have expressed gratitude to Starknet for its undertaking by simply affirming that they are the most significant. Several members have expressed satisfaction with the relocation, believing that the transfer will lead to reduced transaction costs.

During this time frame, Starknet has effectively introduced the Starknet DeFi Landscape to the commercial sector. The following components comprise this system, not in any specific sequence: Platforms include lending/yield farms, AMMs, DEX Aggregators, onramps, and perpetual.