Starknet has released Alpha v0.11.0 on the beta website

According to reports, according to official Twitter, the Alpha v0.11.0 of Starnet, the Ethereum Layer2 expansion solution, has been tested online and Cairo 1.0 has been launched, marking the beginning of the transition phase. This version update includes deploying the Cairo 1.0 contract, replacing class system calls, and reducing computing costs by 5 times.

Interpretation of this information:

The latest update of Starnet’s Alpha v0.11.0, the Ethereum Layer2 expansion solution, has undergone necessary online testing, and the Cairo 1.0 has been launched, heralding the start of the transition phase. The official Twitter account of Starnet has reported that this update aims to replace class system calls, deploy the Cairo 1.0 contract, and reduce computing costs by five times.

Starnet is a decentralized crypto platform that runs on Ethereum’s blockchain, providing individuals with access to an extensive range of smart contract-based solutions. Layer 2 scaling solutions, such as Starnet, are necessary to overcome scaling problems associated with Ethereum’s blockchain network. The system enables the formation of a parallel blockchain network that operates cohesively with the Ethereum mainnet, with the ability to handle increased transactions at lower costs.

The significant feature of the new version update is the deployment of the Cairo 1.0 contract, which enables more efficient performance from Starnet. The contract was developed through an open-source approach, enabling transparency, security, and faster contract execution. It eliminates the need for Starnet to depend on Ethereum’s gas fees, leading to significant cost savings resulting in a reduced burden for users.

Another critical aspect of the new update is replacing the class system calls, which helps improve the overall performance of the system. The modification improves the platform’s efficiency and ensures the smooth running of critical network operations, such as contract executions and wallet operations.

Finally, the latest update aims to reduce computing costs by five times. This feature was implemented to increase user adoption and to enable a broader range of applications to be developed on the network. The benefits of this upgrade will be felt by both developers and end-users; it provides developers with a cost-effective way of building decentralised applications, while end-users will enjoy lower costs associated with using the network.