Immutable and StarkWare have formed a partnership to integrate the StarkEx scalability engine into the Web3 gaming and NFT space, leveraging blockchain technology to enhance the Ethereum ecosystem. StarkWare is a company that specializes in scaling blockchain applications through innovative Layer 2 solutions. It uses zero-knowledge proof systems, specifically STARKs (Scalable Transparent ARguments of Knowledge), to enhance the scalability and security of transactions on blockchains.
StarkEx, developed by StarkWare, offers a powerful solution to the scalability challenges faced by Ethereum-based games and NFT projects, as it allows for higher throughput and more efficient resource utilization.
This collaboration aims to overcome Ethereum's throughput limitations, which have been a significant barrier to growth for NFT applications. With help from StarkEx, Immutable seeks to massively scale up trustless, non-custodial trading and minting of NFTs, with the aim of maintaining the trustless ideals of permissionless blockchains while leveraging Ethereum's security, developer tools, and other useful features.
Key Features of StarkEx include:
- Functionality - Designed to support both ERC-20 and ERC-721 tokens, enabling trading and minting of NFTs.
- Reliability - Proven track record with millions of trades settled weekly on Ethereum's public testnet.
- Scalability - Demonstrated capability of 9,000+ non-custodial trades per second.
- Trustlessness - Utilizes STARKs for security without the need for a trusted setup.
- Security - StarkEx underwent a thorough audit by PeckShield to ensure a high level of protection against vulnerabilities.
These innovations should bolster the Web3 gaming and NFT markets by facilitating smooth, scalable transactions within the Ethereum ecosystem. Game developers looking to harness blockchain technology can now leverage StarkEx's capabilities through Immutable X, promising an enhanced user experience, broader accessibility, and greater innovation in blockchain-based gaming.
FAQ
What is Immutable X?
Immutable X is a leading Layer 2 (L2) scaling solution for NFTs on the Ethereum blockchain. It enables instant trades, high scalability, and zero gas fees for users—and it achieves these benefits without sacrificing security. Designed to support a wide range of applications including games, marketplaces, and digital assets, Immutable X offers developers and users an efficient and environmentally friendly platform for trading and minting NFTs. The native utility token of the Immutable X platform is IMX.
Where to buy Immutable X
To buy Immutable X (IMX), you can use cryptocurrency exchanges where IMX is listed. Popular exchanges often include IMX due to its growing relevance in the NFT and gaming sectors.
How to buy Immutable X
Start by creating an account on an exchange that lists IMX, complete any necessary KYC (Know Your Customer) procedures, and deposit funds either through fiat currency or cryptocurrency. Once your account is funded, navigate to the IMX trading pair of your choice, enter the amount you wish to purchase, and execute the trade. After acquiring IMX, consider transferring your tokens to a secure wallet.
How to stake Immutable X
To stake Immutable X (IMX), you first need to hold IMX tokens in your wallet. Then, access the Immutable X staking dashboard. Connect your wallet to the dashboard and follow the instructions to allocate the amount of IMX you wish to stake. To earn rewards, you must lock your tokens for a two-week staking cycle. These staking rewards are a way to earn additional IMX for contributing to the network's security and operation.
Who can use Immutable X?
Immutable X is designed as an open system. It is built to support developers, creators, and users in the NFT space. It offers an accessible platform for various stakeholders looking to engage with NFTs and blockchain gaming more efficiently and affordably.
How are NFTs minted on Immutable X?
NFTs on Immutable X are minted through a process that leverages the platform's L2 scaling solution, enabling users to create NFTs without paying gas fees. This is achieved by utilizing zero-knowledge proofs (ZK-rollups) to batch transactions off-chain and then record them on the Ethereum blockchain. This method ensures that the minting process is efficient, cost-effective, and eco-friendly.
How do ZK-rollups compare to other L2 solutions?
ZK-rollups are a specific type of L2 solution that bundle (or "roll up") hundreds of off-chain transactions into a single transaction. They use zero-knowledge proofs to maintain data integrity and security without storing all transaction data on the main blockchain, which allows for increased scalability and reduced gas fees. Compared to other L2 solutions like optimistic rollups, ZK-rollups offer faster finality and do not require a challenge period for transactions, leading to quicker processing of NFT transactions on the Ethereum network.
What is zkSync?
zkSync is an L2 blockchain scaling solution designed to enhance Ethereum's capacity and efficiency. It employs ZK-rollup technology, which aggregates multiple transactions off-chain and then submits a single proof to Ethereum for validation. This method significantly reduces gas fees and increases transaction throughput while benefiting from Ethereum's security. zkSync aims to support the Ethereum ecosystem's growth by providing a scalable, low-cost platform for transactions.
Where to buy zkSync
zkSync does not have a native token at this time.
What is StarkEx?
StarkEx is an Ethereum L2 scalability solution utilizing validity proofs to enhance transaction speeds and reduce costs. It supports applications with unique business logic, functioning off-chain for computations while ensuring state transition validity on-chain. StarkEx enables scalable, self-custodial transactions across various sectors, including DeFi and gaming, by batching transactions and employing STARK technology for security. Its architecture includes off-chain components for transaction execution and on-chain components for state commitment and asset management.
Does StarkWare have a token?
Yes, it’s called STRK, the native token of the Starknet network. 728 million STRK tokens were airdropped to select addresses in February 2024.
