StarkWare – an Israeli company focused on Ethereum scaling – joined forces with the Web3 services platform – Chainlink – to expand development on StarkNet. 

The collaboration will also build an economic network between the two entities.

‘Enabling a Next-Generation Web3 Applications’

According to a document seen by CryptoPotato, StarkWare will officially join the Chainlink SCALE program and will make Chainlink Price Feeds available on the StarkNet testnet. Developers will get access to low-cost StarkNet tokens, which will cover operating costs.

The main goal of the partnership will be to accelerate the adoption of StarkWare’s solutions by expanding the development throughout its ecosystem. The allies will also form a financial system between each other to provide an infrastructure where developers can build “highly performant, increasingly complex, and secure contract applications.”

Eli Ben-Sasson – Co-Founder and President of StarkWare – said his company inked the deal to offer access to oracle services and enable “a next-generation of globally scalable Web3 applications built on StarkNet.” 

“We look forward to continuing our collaboration and welcome the passionate Chainlink community into the StarkNet ecosystem,” he added.

The partnership is expected to lower costs for users and developers and allow them to operate at a higher speed. Sergey Nazarov – Co-Founder of Chainlink – also commented:

“We’re thrilled to have StarkNet joining the Chainlink SCALE program, further supporting the upcoming deployment of Chainlink oracle services on StarkNet mainnet. By reducing the operating costs of oracle nodes, StarkNet is able to accelerate its ecosystem’s growth and become a more attractive environment for building scalable dApps in the Web3 ecosystem.”

StarkWare’s Update

The Israeli firm recently revealed its intentions to open-source its STARK Prove – the engine that uses cryptographic proofs and allows blockchains to move computations to a single off-chain. The update could take some time before being implemented officially. Eli Ben-Sasson shared more details:

“This is a landmark moment for scaling Ethereum, and in a wider sense, for cryptography. It will put STARK technology in its rightful place, as a public good which will be used to benefit everyone.”

The post Crypto Firm StarkWare Partners With Chainlink to Boost StarkNet Adoption appeared first on CryptoPotato.

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Filed under: Bitcoin - @ February 6, 2023 1:10 pm