In an exclusive development, Informal Systems has collaborated with Starknet. The partnership between Starknet and Informal Systems aims to improve 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’re working with @Starknet to improve decentralization and interoperability in the Ethereum L2 space.
The combination of StarkWare Industries, @StarknetFndn and our expertise promises something extraordinary.
Collaboration is 🔑 ⤵️ pic.twitter.com/1kiBBLRdUB
— Informal systems 🌱 (@informalinc) July 24, 2024
Informal systems join forces with Starknet to increase interoperability and decentralization
The platform noted in its exclusive X-post that the respective initiative improves the interoperability and decentralization of the Ethereum L2 sector. Starknet works as a censorship-resistant, decentralized and permissionless zk-rollup. It helps in Ethereum-based general computations. This allows developers to develop apps to send transfers, just like Ethereum.
Informal Systems operates as an employee-owned Cosmos-based platform that supports various open source software. The collaboration brings Informal Systems and Starknet Foundation together to improve interoperability and decentralization to facilitate users. This endeavor has paved the way for the development of a decentralized sequencer. It guarantees resistance to censorship and continuity in the recording of transfers.
Tendermint’s consensus algorithm was used to develop the sequencer. It will reportedly include several implementations to ensure node diversity. Moreover, Informal Systems creates such an implementation. In addition, the integration of the Inter-Blockchain Communication protocol into Starknet targets provides the ability to compose applications for different L1s and L2s.
IBC will serve the liquidity flow between Starknet and a broader interchain. This would open up new opportunities for cooperation. The top priority concerns fungible token transactions, with a strategy to delve into other applications. As a result of this partnership, both ecosystems will see several new opportunities.
The Endeavor focuses on achieving the ultimate goal of benefiting both the developers and the users
This initiative will potentially enable greater composability, interoperability, and decentralization of applications. The teams of both entities are making great efforts in this area. According to Informal Systems, they are reportedly trying to achieve the goal of developing and expanding their ecosystems. While carrying out these activities, they also promote feedback from the entire community.
While the respective partnership continues to evolve, there are expectations for unique developments. Therefore, blockchain technology can experience some advanced developments. As included in the ultimate goal of these efforts, the companies intend to benefit both developers and users.