Eli Ben-Sasson, one of the co-founders of Starkware, told Cointelegraph that none of the things that people feared would happen during the Merge actually did happen, and that everything went exactly as it should have.
After the much-anticipated switch from proof-of-work (PoW) to proof-of-stake (PoS) was completed on the Ethereum network, Eli Ben-Sasson, the co-founder of Starkware, shared his thoughts on the transition’s implementation and the opportunities it presents for the future.
Ben-Sasson discussed the current state of affairs post-Merge and how it affects layer-2 projects like Starkware in an interview with Cointelegraph’s Gareth Jenkinson at the Token2049 event. The executive also shared his views on the crypto winter and the rising popularity of layer-2 goods.
Ben-Sasson was overjoyed to see that the Ethereum Merge had been carried out without a hitch and asserted that everything had transpired in the manner that it ought to have. The executive offered the following explanation:
“The fact that everything went off without a hitch is the single most important thing to take into consideration. Everything that was going to take place did take place as planned. And none of the things that were causing folks to be concerned actually materialized. And that is a wonderful piece of news.”
In addition, the executive emphasized how essential it is for the new Ethereum network to be friendlier to the natural world. It has a smaller impact on the environment. “That is the most important thing, and it also augurs extremely well for the prospect of additional improvements in the future,” he said. “That augurs very well for the possibility of further improvements in the future.”
Ben-Sasson claims that the Merge improves Ethereum’s settlement layer and makes it a more user-friendly platform for layer-2 solutions. The chief executive officer underlined that this is an extremely crucial step for Starkware’s products since, after it is completed, the firm will be able to offer scaling, compute compression, and other upgrades that their technology is capable of providing.
Ben-Sasson revealed, in addition to the Ethereum Merge, that the majority of acceptance and interest in Starkware solutions has been shown by projects that were also successful in the layer-1 Ethereum. This covers blockchain gaming, nonfungible tokens (NFTs), and decentralized financial transactions (DeFi). In addition to that, the executive detailed what he believes the future will hold for them. It was his contention that:
In the future, “I believe that the power to do much more computation with very small gas footprint will lead to whole new applications that were previously unseen and which are going to be of much larger consequence,” he says.
With everything that’s going on, the CEO also revealed his belief that despite the fact that many people are referring to the current situation in the crypto and blockchain industry as a “crypto winter,” their team has a different perspective on the matter. “We see it as spring into the beautiful summer,” he commented. “We are looking forward to it.”
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