Digital currency STRK
The STRK token is the digital currency of the Starknet system, a layer two solution on the Ethereum network aimed at improving scalability and reducing transaction fees using zero-knowledge proofs (ZK-Rollup), specifically the advanced zk-STARKs technology.
Starknet relies on off-chain transaction processing outside the main Ethereum chain while maintaining a summary of transactions on-chain, allowing for faster, cheaper, and more secure transactions. The STRK token is used to pay transaction fees within the Starknet network, and it also plays a role in governance and staking, where users can vote on network development decisions and participate in maintaining its stability.
Starknet relies on a special programming language called Cairo to facilitate the building of smart contracts and decentralized applications on the network. The total supply of STRK currency is 10 billion units, and its highest price reached around $3.4 in February 2024.
In addition to payment and governance uses, the currency provides incentives for users who participate in supporting the network.
