Following the completion of Ethereum’s much-anticipated transition to proof-of-stake (PoS), Eli Ben-Sasson, co-founder of Starkware, expressed his thoughts on the execution and future potential of the network. Speaking at the Token2049 event with Cointelegraph’s Gareth Jenkinson, Ben-Sasson discussed the impact of the merge on layer-2 projects like Starkware, as well as adoption and interest in layer-2 products and the state of the crypto market.
Reflecting on the execution of the Ethereum Merge, Ben-Sasson was pleased with the flawless transition and noted that everything unfolded as expected. He emphasized the significance of the new Ethereum network’s environmental benefits, stating that it reduces the carbon footprint and opens up possibilities for future improvements.
Ben-Sasson also highlighted how the Merge enhances Ethereum’s role as a settlement layer and creates a more favorable environment for layer-2 solutions. This development is particularly important for Starkware’s products, as it enables them to offer scaling, computation compression, and other technological enhancements.
In addition to the Merge, Ben-Sasson shared that Starkware’s solutions have gained adoption and interest from projects that have been successful on the layer-1 Ethereum network, such as nonfungible tokens (NFTs), blockchain gaming, and decentralized finance (DeFi). He expressed optimism for the future, stating that the demand for layer-2 solutions will continue to grow.
Despite the crypto market being described by many as experiencing a “crypto winter,” Ben-Sasson and his team at Starkware see it differently. They view the current situation as a transition from winter to a warm and promising summer.