Moderator: Hello Professor Eli, we know that you were a professor at the Technion-Israel Institute of Technology before, and you have engaged in scientific research in prestigious academic institutions such as the Institute for Advanced Study in Princeton, Harvard, MIT, etc. What drove you to leave academia and enter the crypto industry to start a business ?
Eli: In short, through my research, I discovered a set of tools that I realized could make a big difference and really help humanity. I found that no one is really promoting the development of this technology, and no one is promoting the application of this technology in the real world, and I want to work hard. Another part is because I firmly believe that these tools are practical, and now I see them used in practice. So, if you have an invention that you believe in, you really want it to be applied and used to do something good for the world. We’re able to push this invention forward in the context of academic research, and there are times when you have to work harder, build a bigger team, get more funding, and those things don’t do well in academia.
In 2018, the technology is relatively mature. Thanks to my involvement with zCash before that, not just me, but also my other founder, Professor Elizondo Kirza En. When we reached out to Season V players in the blockchain world, they showed great enthusiasm. So our seed round is actually going very fast, our very important initial seed investor is Vitalic Butane, and there are many, many investors who are strongly behind our project, so we see that we can do this Get funding and build a team. A lot of the early recruits at Starkware were also very enthusiastic about blockchain and baltist research, so we saw an opportunity to get funding and build a very strong team, and they were also very enthusiastic about making Starkware a reality and doing it with the best way to help the expansion and privacy development of the blockchain. That’s why we built it.
Moderator: Could you please briefly introduce StarkWare and its products such as StarkEx, StarkNET, Cairo?
Eli: Let me introduce StarkEx, StarkNET, Cairo. First, let me take a step back and think, what is our core technology? Because of this project you mentioned, StarkEx, StarkNET, Cairo are all built around forensic technology, which is Stark. So what is the Stark system? They are a technique that provides integrity through mathematics. This also means doing the right thing even when no one is overseeing it. We are really desperate to understand the calculations involving our funds, our medical information, for example, forensic and personal data.
We hope that when this data that belongs to us is processed it is processed in its entirety, which means that someone is doing the right thing, even if I don’t see it, even if someone else might want to steal my money or use it for bad things, So we really want to be honest. Now, in the traditional world of banks and governments that we are all familiar with, we basically need to trust some central authority to operate in an integrated fashion. I must trust my government to handle my medical data honestly. I have to trust the bank to handle my financial data faithfully, there is no other option. Now, blockchain works very differently. They provide integrity through transparency, inclusion and digital. The blockchain will say, “Hey, invite everyone over, connect their laptops to the internet.” Then log all the evolution of the system, basically checking that all transactions are OK.
Thus, blockchain provides integrity by relying on numbers, inclusivity, and transparency. However, because of this, they are very limited in size, as my less powerful laptop now needs to check all the deals in the world. You know, if you think about payments like Alipay, or on WeChat, it’s pretty incredible that my laptop can check all those transactions. So, blockchain does have a scale problem. So where do we start? We have invented a set of mathematical tools to provide completeness through mathematics, which means we can check that a proof, an unequivocal proof, that a huge calculation is correct, we know it is correct, not because we believe the other side, Rather, it is because we believe that mathematics has been shown to provide this completeness.
So we now have this technology that lets the blockchain, instead of running all the calculations and doing all the heavy lifting, they can act as verification, as strict checks, as proof checks. If the proof passes, the blockchain knows that these transactions, all transactions, were processed in their entirety. This is the core technology, called Stark. It gives you exponential integrity, not by trusting the other party, but by trusting the math.
Next, let me explain what StarkEx, StarkNET and Cairo mean.
StarkEx StarkEx is a system whose code is written by StarkWare and operates for one client at a time. For example, UM has a starkex system, where immutable X handles N-Fts, and a Stark system, written for UM, for trading YDX. So each is a different system. They divide X into very rare, immutable X diversification, and there are some other features that will come online soon, and in the process, when they use this technology, basically we are processing a lot of transactions like payments , and submit a very short asterisk proof to the blockchain to prove the validity of these transactions, and then you get all the integrity of the blockchain and all the security of the blockchain, nothing but the blockchain Trust assumptions. This is StarkEx.
StarkNet is like Ethereum. It is an open platform that anyone can use to write and deploy smart contracts into development. It is for developers, so developers can start deploying and sending UMether to get the network up and running on it. Over time, we at UM provide more and more tools to make it easier for developers to develop and deploy on starkNet, we are improving performance and throughput, and we want to provide the best experience for developers . But now we’re getting ready for the production level, which means we’re going up to speed and ramping up production. Our goal is to achieve eTPS, which is at least ten times the throughput of Ethereum and at least ten times lower cost than Ethereum. This is our next goal and we are working on it. In addition to that, we also started working on decentralization.
Finally, what is Cairo? Like in a hearing, you write your smart contracts in a specific language that is the most reliable.
Moderator: The current L2 expansion technologies include Optimistic Rollup, ZK Rollup, Plasma, Sidechain, etc., but the industry is generally more optimistic about ZK Rollup. What is your opinion? How does StarkWare’s ZK Rollup technology compare to other ZK Rollups?
Eli: People usually refer to Optimistic and Arbitrum. And then in Effectiveness Rollup, sometimes called ZK Rollup, we have StarkNET and Cairo. Regarding our Rollup, in fact it is the only Rollup that is live and uses the security technology it promises. Let me explain, Optimisti has no evidence of fraud. Fraud proofs are the core security mechanism that keeps them safe, it is not open on Arbitrum, none of us can invoke fraud proofs, only a small group of people can use them. They proposed a testnet. It has no ZK proof. The only L2 at the moment is that security is provided first by technology that is supposed to be secure. So that’s where we’re really proud and where we stand out from the competition. In that regard, by the way, we are going through a major turbulence in the market right now, and we see the importance of getting all the safety mechanisms and all the technology working. We didn’t just unlock the core technology. We also have the most future-proof technology.
Moderator: Among the current L2 products, many projects such as dYdX, Immutable X, DeversiFi, and Sorare are all based on StarkEx. Why did they choose StarkEx?
Eli: The answer is actually pretty simple, it’s related to the answer to my previous question, when these very serious teams, very successful teams, look for technologies that can build a solid foundation, build something on top of those technologies that can withstand The ups and downs of the market, and have the security users need. There is only one technology, past and present, that can achieve this goal, and that is our technology.
Moderator: As there are many L2-related technologies and products, it also makes it difficult to exert the advantages of composability. What do you think is the biggest challenge of composability on L2? What are the possible solutions?
Eli: Our biggest challenge is getting to the level where developers use tools. That said, developers are used to developing on Ethereum. But we are moving fast on this. There is an amazing development ecosystem with dozens of teams working to provide this tool. If you’re a developer looking for some fast-growing ecosystem, then definitely check out StackNet.
There is composability on Ethereum, and you get it for free as long as you have composability on the second layer. Another solution is that you can use one layer to interconnect different layers of pipes. The third solution is that in effectiveness robots you can actually have very fast composability because you can prove in one system that what is happening in the other is complete. These things were later used by other people as well, one thing that can only happen to effectiveness accumulation, which we also invented, is the concept of layers through the breeze, which means you it works as a third layer. Then, when they want to talk and communicate, you can use this layer to compose them and let them talk to each other, just like you can have two layers of people talking through the next layer of people. This is another new thing invented by StarkWere, and we hope and believe that this will become the standard for StarNet as well.
Moderator: Thank you Professor Eli for his speech, which is very exciting. Thanks to the partner media of this AMA, The Way of DeFi, Foresight News, Chain Catcher, MarsBit News, Planet Daily, Panews, Deep Tide and the 0x499 community.
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