In an exclusive development, Informal Systems has collaborated with Starknet. The partnership between Starknet and Informal Systems targets improving interoperability and decentralization. Informal Systems took to its official social media account to provide the details about this move.
1/ @Starknet 🤝 @informalinc Part 1️⃣
We’ve teamed up with @Starknet to enhance decentralization and interoperability in the Ethereum L2 space.
Combining StarkWare Industries, the @StarknetFndn, and our expertise promises something extraordinary.
Collaboration is 🔑 ⤵️ pic.twitter.com/1kiBBLRdUB
— Informal Systems 🌱 (@informalinc) July 24, 2024
Informal Systems Joins Forces with Starknet to Increase Interoperability and Decentralization
The platform noted in its exclusive X post that the respective initiative enhances the Ethereum L2 sector’s interoperability and decentralization. Starknet works as a censorship-resistant, decentralized, and permissionless zk rollup. It helps in Ethereum-based general computation. It lets developers develop apps to send transfers just as on Ethereum.
Informal Systems operates as a Cosmos-based employee-owned platform dealing with several open-source software. The collaboration brings together Informal Systems and Starknet Foundation to improve interoperability and decentralization to facilitate the users. This endeavor has paved the way for the development of a decentralized sequencer. It guarantees censorship resistance and continuity in transfer inclusion.
The consensus algorithm of Tendermint has been utilized to develop the sequencer. It will reportedly encompass several implementations to guarantee node diversity. Moreover, Informal Systems is creating an implementation of this type. Along with that, the Inter-Blockchain Communication protocol’s integration into Starknet targets offering application composability for different L1s and L2s.
IBC will serve liquidity flow between Starknet as well as a broader interchain. This would open new possibilities for collaboration. The top priority deals with fungible token transactions, with a strategy to delve into other applications. As a result of this partnership, both the ecosystem will see several new opportunities.
The Endeavor Focuses on Achieving the Ultimate Objective of Benefiting the Developers and Users Alike
This initiative will potentially enable increased application composability, interoperability, and decentralization. The teams of both entities are making great efforts in this respect. According to Informal Systems, they are reportedly attempting to achieve the goal of developing and expanding their ecosystems. While doing these activities, they also promote feedback from the overall community.
While the respective partnership keeps on evolving, there are expectations about unique advancements. Hence, blockchain technology may experience some cutting-edge developments. As included in the ultimate objective of these endeavors, the companies intend to benefit the developers and users alike.
