Starknet, an Ethereum layer 2 network developed by StarkWare, is exploring a transition to a layer 1 blockchain. The project aims to achieve full quantum resistance by 2027, a timeline that precedes the Ethereum Foundation's current target of 2029 for similar infrastructure.
The announcement triggered a 20% increase in the price of the STRK token over a 24-hour period, bringing the trading value to approximately $0.073. This figure represents more than double the price of $0.03 recorded in April, following staff reductions at StarkWare.
CEO Eli Ben-Sasson stated that the move is being considered because Starknet currently relies on Ethereum for security. By becoming an L1, the network would gain autonomy over its security upgrades and would no longer depend on the development pace of base layers like Ethereum or Bitcoin.
Starknet's security model currently utilizes hash functions, which are considered quantum-resistant. However, the network still incorporates some elliptic-curve components that the team plans to replace, as outlined in a roadmap published on June 30.
