Starknet approves vote to add ability to use STRK token for paying transaction fees

The Ethereum Layer 2 network Starknet’s community approved a vote to proceed with implementing the Alpha version 13.0 update on its mainnet.

The proposal received overwhelming support, garnering approval from over 99.8% of votes from participating delegates.

The v.13 update will introduce transaction fee payments using both STRK and ether. The network plans to eventually transition to exclusively using STRK for transaction fees, Eli Ben-Sasson, a core contributor, told The Block.

The upgrade is expected to go live this Wednesday. However, the activation of STRK token payments will be delayed until the token becomes transferable at a later date.

In addition to laying the groundwork for enabling STRK fee payments, the v.13 upgrade is expected to cut down on transaction costs and network performance. It is projected to potentially reduce transaction fees by 25-50%, the team said.

Starknet operates as a decentralized Layer 2 network on Ethereum, using a zero-knowledge roll-up solution. This solution condenses multiple transactions on an off-chain layer before collectively publishing them on the Ethereum network.

Starknet Foundation, the organization behind Starknet, plans to distribute 1.8 billion tokens as user rewards and rebates later this year, potentially including a community airdrop.

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