StarkNet plans to increase TPS by 4x and reduce fees by 5x within 3 months

StarkWare, developed by StarkNet, is set to expand its already low gas fees as blockchain activity and gas fees are expected to increase in the coming months.
On the 17th (local time), Starkware CEO Eli Ben-Sasson said,
Sasson) participated in the "DevCon
The company will launch its Ethereum Layer 2 network, StarkNet, in 2024.
StarkNet said it plans to increase transaction speeds four-fold and reduce fees five-fold, with this expected to happen within three months.
He also said, "The network improvements are primarily due to the compiler improvements of Cairo, Starknet's native smart contract language."
This will be achieved by improving the rules and increasing the execution speed," he explained. This will enable StarkNet to process more than 1,000 transactions per second (TPS).
The move is expected to put the company on par with competing networks like Solana.
According to Compass data, Solana's average TPS is said to be between 800 and 1050.
"StarkNet's TPS will increase to more than 1,000 within three months," he said. "This is for sure."
StarkNet's already low fees are also set to be significantly reduced. "We will reduce StarkNet's transaction costs by 5 times.
"That's the plan. This will probably make StarkNet the cheapest Layer 2," he added.