Ethereum-focused scaling platform StarkWare has joined hands with leading blockchain oracle network Chainlink to onboard the latter’s price feeds into the StarkNet ecosystem.
Chainlink is a decentralized oracle network that enables smart contracts to securely interact with real-world data and events, making it possible for them to be triggered by data from external sources.
Through the partnership, StarkWare will be able to participate in Chainlink’s Scale program. In addition, certain Chainlink oracle node operation expenses will be covered by StarkNet tokens, providing Starket developers with access to Chainlink oracle services and data feeds.
Last year, StarkWare secured an $8 billion valuation and announced plans to open source its core cryptographic software tool.
The Israel-based tech firm oversees the scalability issues of Ethereum, which cause slow throughput and high gas or transaction fees.
The company has two platforms: the StarkEx scaling engine and StarkNet, which empowers developers to build decentralized applications [dapps]. In a meeting, the ETH-based scaling firm revealed its plans to open-source the STARK Prover technology.
The announcement was made during the two-day StarkWare Sessions 2023 event in Tel Aviv, Israel. The company said the plan to open source will take time to implement, but StarkWare is committed to making the entire tech stack transparent for developers.
StarkWare co-founder and President Eli Ben-Sasson said in a statement at the summit.
Every step we take to provide infrastructure and to make it accessible and decentralized is a catalyst for devs to build. And the quicker and more broadly they build, the faster we’ll see mass onboarding to solutions that truly enable people to manage their own funds. So there’s a direct line between open-sourcing key tech and popularizing self-custody.
As reported by TronWeekly, Ethereum for the first time since Sept. 12, climbed above $1700 briefly. The second biggest crypto by market cap began 2023 on an impressive note, with a 40% rise to date.
Ethereum Rally Might Stall; Here’s Why
Following the FTX saga and the prolonged bear market of 2022, the leading altcoin has been able to recoup the losses suffered during the events in just a span of 30 days.
Also, in February, ETH experienced the highest percentage of profitable transactions in the previous two years.
Investors are unsure whether the price rally would continue its momentum even as profit-taking has increased, Santiment noted.
On the brighter side of things, an Ethereum developer announced the launch of “Zhejiang” public testnet on February 1 which provides a test environment to run withdrawals of staked Ether.