Source: Cointelegraph
Original: “Starknet Achieves 'Phase One' Decentralization, ZK-Rollup Sector Tops in Total Locked Value”

Ethereum (ETH) layer two scaling platform Starknet has reached the decentralization milestone proposed by Ethereum co-founder Vitalik Buterin and has become the largest zero-knowledge rollup network by total locked value.

Starknet announced in a press release to Cointelegraph that the network has achieved "Phase One" decentralization according to the framework established by Buterin in 2022, meaning it currently operates under limited supervision or "training wheels."

Starknet further stated that the framework is the "gold standard on-chain tool for analyzing Ethereum scaling solutions," noting that this milestone was achieved through reforms such as the establishment of a security council and anti-censorship mechanisms.

While the system still allows for intervention by the security council, it has implemented a complete validity proof system governed by smart contracts.

According to L2beat data, Starknet is currently the only layer two ZK-rollup network to reach Phase One and has developed into the largest ZK-rollup blockchain with a total locked value of $629 million, slightly above ZKsync's $610 million.

In terms of locked value, Starknet ranks as the fifth largest layer two network, with the top four based on optimistic rollup technology, all having achieved Phase One decentralization through fraud proofs.

Fraud proofs assume transactions are invalid until proven valid, while validity proofs assume transactions are only valid when proven valid through cryptographic evidence.

"Our goal is to completely remove the training wheels and achieve Phase Two decentralization on Ethereum while fully advancing our work on Bitcoin," said Eli Ben-Sasson, co-founder and CEO of StarkWare, the developer of Starknet.

"Phase Two" decentralization is the stage where the network will be fully autonomous and governed by the community. According to L2beat data, currently only three small layer two scaling platforms have reached this stage.

Buterin introduced the concept of "training wheels" in 2022, which refers to the three stages of development for Ethereum scaling rollup projects.

Coinbase's layer two network Base leads the field with a locked value of $14.7 billion, capturing a market share of 33%. In contrast, Starknet's market share is 1.4%.

The total locked value in the layer two ecosystem is $44.2 billion. This figure has recently risen with the increase in Ether's value, but has declined by 20% so far this year.

Related: Centralized infrastructure needs to adopt decentralized physical infrastructure networks (DePIN)

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