Starknet and Informal Systems collaborate on blockchain interoperability

• Starknet partners with Informal Systems to join the interchain, improving blockchain interoperability.
• The integration of IBC into Starknet enables seamless liquidity flow between Starknet and other networks.

Informal systems announced on Twitter that Ethereum’s layer-2 network, Starknet, is working with them to join the interchain. The goal of this partnership is to integrate the Inter-Blockchain Communication (IBC) protocol into Starknet, enabling composability of applications across various layer-2 (L2) and layer-1 (L1) networks.

The integration of IBC will enable the two-way flow of liquidity between Star Network and the broader interchain, promoting greater interoperability and ecosystem cohesion.

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From Decentralization to Interoperability: Starknet’s Journey with Informal Systems

The path to this collaboration began in the spring of 2023, with technical conversations focused on decentralizing Starknet’s L2 using the Tendermint consensus protocol. Informal Systems, drawing on its considerable expertise with CometBFT, provided valuable insights into these conversations.

Initially focused on designing decentralization protocols, the partnership has recently expanded to include interoperability and fragmentation of blockchain ecosystems.

On July 10th at StarknetCC, Josef Widder, Director of Protocol Engineering, and Adi Seredinschi, Director of Product, discussed the progress and thoughts on Malachite, Starknet’s decentralized sequencer implementation.

Malachite uses the Rust-based Tendermint consensus algorithm, aiming to achieve production-grade decentralization and interoperability. A decentralized sequencer is designed to be fault-tolerant and censorship-resistant, ensuring that transactions are continuously included even during network outages.

Additionally, Starknet has made progress in improving its networking capabilities. Previously, as we have already mentioned reportedChainlink data feeds have been launched on the Starknet mainnet, enabling developers to build scalable and secure DeFi applications.

These feeds are provided by independent and trusted node operators that are resistant to Sybil attacks and gather information from a variety of high-end APIs. This integration is a critical step in providing a stable data infrastructure for Starknet’s growing DeFi ecosystem.

Meanwhile, according to a previous CNF relationshipStarknet’s total value locked (TVL) has fluctuated. Starknet’s TVL hit $1 billion in February, pushing it to the fourth spot among Ethereum L2 solutions. However, the current TVL stands at around $300 million.

Starknet’s native token, STRK, is now trading at around $0.5276which represents a 1.92% loss in the last 24 hours. On a weekly basis, the token’s price seems to be creating a Double Bottom pattern, indicating that it could drop further.

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