Starknet Announces First "Appchain" Project

Just days after introducing the "Appchain" toolkit, the Starknet ecosystem has welcomed its first project to utilize this model.

First Appchain Project on Starknet

According to a tweet from StarkWare, the first project to use the "Appchain" toolkit will be the derivative trading platform, Paradex.

However, it is important to note that Paradex is currently in the testnet phase and has not yet officially launched.

What is Appchain?

Appchain is Starknet's latest toolkit designed to help projects build and operate their own dedicated blockchain networks. This move aims to provide projects with greater autonomy and efficiency by allowing them to tailor their network to specific needs and use cases.

See also: Starknet Introduces Appchain Toolkit

Recent Developments on Starknet

Prior to the Appchain announcement, Starknet also released a significant upgrade known as Quantum Leap (version V.12.0). This upgrade enhances the network's transaction processing speed, encouraging users to transfer assets and test the new features. Data from DeFiLlama indicates that the Total Value Locked (TVL) on Starknet has seen an impressive increase, nearing the $30 million mark.

Broader Layer-2 Developments

Beyond Starknet, other Layer-2 solutions are also making strides in developing their own chain-building toolkits. In the coming months, with the anticipated Dencun upgrade on the Ethereum mainnet, Layer-2 solutions are expected to benefit significantly from EIP-4844, which aims to reduce data storage costs on Layer-1.