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StarkWare Introduces Shadow Accounts Feature on Starknet Network

(5 hours ago) · 1 source · Summarized by CryptoBipto

StarkWare has launched a new feature called Shadow Accounts on its Starknet layer-2 network. The feature is designed to change how accounts function on the Starknet blockchain, though full details on its implementation and capabilities are still emerging.

WHY IT MATTERS

Layer-2 networks like Starknet are built on top of Ethereum to help it handle more transactions at lower cost, similar to how an express lane on a highway helps reduce congestion on the main road. Starknet already uses a system called account abstraction, which makes crypto accounts work more like accounts in traditional apps — for example, allowing password recovery or automatic payments. Shadow Accounts appear to be a new extension of this idea. For newcomers, this matters because improvements to how accounts work on blockchains can make crypto easier and safer to use for everyday people, reducing the steep learning curve that currently exists.

StarkWare, the company behind the Starknet layer-2 scaling network built on Ethereum, has announced the launch of Shadow Accounts. Starknet uses a technology called validity proofs (also known as zk-rollups) to bundle transactions off the main Ethereum chain and then post compressed proof of those transactions back to Ethereum, aiming to reduce costs and increase throughput.

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SOURCES

  • thedefiant.io

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ETHSTRKStarknetLayer 2Account AbstractionEthereum Scaling