{"id":307276,"date":"2024-05-22T16:51:45","date_gmt":"2024-05-22T11:21:45","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=307276"},"modified":"2024-05-22T16:51:45","modified_gmt":"2024-05-22T11:21:45","slug":"kakarot-zk-evm-launches-testnet-paving-the-way-for-evm-compatibility-on-starknet-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/kakarot-zk-evm-launches-testnet-paving-the-way-for-evm-compatibility-on-starknet-crypto-news\/","title":{"rendered":"Kakarot ZK-EVM Launches Testnet, Paving The Way For EVM-Compatibility On Starknet – Crypto News"},"content":{"rendered":"

Kakarot Labs is backed by StarkWare and Vitalik Buterin.<\/p>\n

\n

Starknet, the seventh-largest Layer 2 network by TVL, will soon enjoy EVM-compatibility, opening the floodgates to established DeFi protocols within the Ethereum ecosystem.<\/p>\n

On May 22, Kakarot Labs launched the public mainnet phase for its modular Cairo-based zero-knowledge Ethereum Virtual Machine (EVM). The move sets the stage for Starknet’s ecosystem to become EVM-compatible, with the popular Layer 2 leveraging the Cairo programming language and facilitating\u00a0smart\u00a0contract execution via its bespoke CairoVM.<\/p>\n

\u201cKakarot is essentially an Ethereum execution engine built with Cairo,\u201d said Elias Tazartes, CEO and co-founder of Kakarot Labs. \u201cIn time, this engine will be integrated into Starknet appchains, thus allowing any ZK-rollup that uses the Cairo stack to be EVM compatible.\u201d<\/p>\n

The Kakarot ZK-EVM\u00a0was\u00a0first\u00a0created\u00a0in October 2022 through a joint development effort from the StarkWare Exploration Team and the open-source Starknet developer community.<\/p>\n

In June 2023, Kakarot Labs\u00a0announced<\/a>\u00a0a pre-seed investment round featuring participation from StarkWare, the team behind Starknet, and Vitalik Buterin<\/a>, Ethereum\u2019s chief scientist.<\/p>\n

EVM-compatibility<\/h2>\n

While Starknet currently ranks as the seventh-largest Layer 2 with more than $1 billion in total value locked (TVL), according to L2beat,\u00a0the lion\u2019s share of its TVL was achieved\u00a0through its long-anticipated\u00a0STARK airdrop<\/a>\u00a0on Feb. 20.<\/p>\n

The drop was the largest in the history of web3, with the project distributing $2.1 billion worth of tokens at a $30 billion fully diluted valuation per STARK\u2019s initial trading price. The drop also catapulted Starknet\u2019s TVL more than 550% to $1.22 billion from $187 million overnight.<\/p>\n

However, Starknet\u2019s modest pre-airdrop TVL illustrates the barriers posed to the network’s growth by its lack of EVM-compatibility, with its TVL having sluggishly risen from $56 million in May 2023 to $187 million in February. <\/p>\n

By contrast, many EVM-compatible L2s have quickly garnered momentum by enabling established protocols leveraging Solidity \u2014 Ethereum\u2019s primary coding language \u2014 to\u00a0easily migrate<\/a>\u00a0onto new networks.<\/p>\n

\u201cToday, developers looking to build on the Starknet Stack faced the challenge of learning Cairo, the programming language developed especially for STARK cryptography, distinct from Solidity, the mainstay language of Ethereum,\u201d Kakarot Labs said. \u201cThe introduction of Kakarot zkEVM will eliminate this barrier by enabling developers to use Solidity, thereby fostering a more inclusive environment within the ecosystem.\u201d<\/p>\n

Kakarot\u2019s public\u00a0whitelist\u00a0phase is the first of three test network deployments, with the project set to follow up with a public\u00a0whitelist\u00a0and permissionless public testnet launches.<\/p>\n

The project said its testnet deployments will allow developers to experiment.\u00a0familiar\u00a0tooling such as MetaMask and Foundry within a Cairo-based setting. \u201cBy participating in this phase, developers can test and optimize new protocol changes and the latest advancements in crypto user experiences,\u201d Kakarot said.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Kakarot Labs is backed by StarkWare and Vitalik Buterin. Starknet, the seventh-largest Layer 2 network by TVL, will soon enjoy EVM-compatibility, opening the floodgates to established DeFi protocols within the Ethereum ecosystem. On May 22, Kakarot Labs launched the public mainnet phase for its modular Cairo-based zero-knowledge Ethereum Virtual Machine (EVM). The move sets the […]<\/p>\n","protected":false},"author":2,"featured_media":307281,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[274,273,272,244,266,271,268,270,269,267],"class_list":["post-307276","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-de-fi","tag-crypto-finance","tag-decentralized-finance","tag-liquidity","tag-metamask","tag-pancake","tag-slippage","tag-sushiswap","tag-tronlink","tag-trust-wallet","tag-uniswap"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/307276","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=307276"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/307276\/revisions"}],"predecessor-version":[{"id":307282,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/307276\/revisions\/307282"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/307281"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=307276"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=307276"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=307276"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}