StarkWare CEO: Starknet will increase TPS by 4x and reduce fees by 5x in 3 months

StarkWare CEO Eli Ben Sasson said he expects transaction speeds on the company's Ethereum L2 Starknet to increase fourfold over the next three months, while fees will drop "fivefold." Speaking at DevCon 2024 in Bangkok last week, Sasson said network improvements come primarily from "better compilation and faster execution" of Cairo, Starknet's native smart contract language.

Starknet will cross the 1,000 TPS milestone and compete with chains like Solana, which typically handles between 800 and 1,050 non-voting TPS, according to Solana Compass data. Sasson asserted that Starknet’s TPS will exceed 1,000 or more within the next “three months.” Starknet fees will also be reduced further, he added, "We're on track to reduce transaction costs on Starknet by 5x, which could make it the cheapest L2."