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STARKGATE — EVERYTHING YOU NEED TO KNOW 

 * December 10, 2022
 * At 7:27 am



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StarkGate — Everything You Need to Know 

StarkGate is the Alpha version of StarkNet, which is a STARK-based scaling
solution designed by StarkWare along with StarkEx. 

But wait… What is all this STARK- stuff, and why is the world so after it? This
is exactly what we are going to explore in this guide! 

We have tried our best to explain StarkGate and its relation to STARKs and
StarkNet in the easiest words possible. So, stick till the end to know it all! 


WHAT IS STARKGATE?


 

StarkGate is a project by StarkWare Industries. It is a token transfer bridge
between StarkNet and Ethereum. In other words, it is another Layer 2 token on
the Ethereum Network. StarkNet is a STARK-based scaling solution. It is
important to understand what STARKs is if you want to understand StarkNet and
StarkGate. 

So, let’s first learn a little about STARKs!


WHAT ARE STARKS?

STARKs stands for “Scalable, Transparent ARgument of Knowledge” or “Succinct
Transparent ARgument of Knowledge.” It is a “proof system” used in a blockchain
network to verify computations. 

As we know, a blockchain network consists of a chain of blocks, and each block
represents or stores certain information. 

Generally, the process of computing involves transforming sets of symbols as per
the defined principles. However, in a blockchain network, computation refers to
the “transaction” or keeping track of network activity and records. 

Computational logic, or a smart contract that serves as the transaction’s
instructions, can be included in each transaction on the blockchain. Each
computation or transaction on a blockchain network needs verification from both
ends. 

Thus, STARKs is a scalable token transfer bridge designed to verify large
computations off-chain. Remember that “on-chain” computations are usually much
more expensive, requiring processing a fraction of the computation. 

However, STARKs make large computational processing cheaper. Moreover, besides
reducing the overall cost, these token bridges also “verify” the computations,
i.e., generate proof for the authentication of the computation. 


WHY IS STARKS IMPORTANT? 

STARKS enables users to easily make large (cheaper) computations by verifying
the computation’s correctness. Such a mechanism simplifies blockchain
scalability and allows users to verify a particular computation by following a
single STARK proof. 

This simple approach towards verifying the integrity of bigger computations has
become a game changer in the blockchain industry. 

First, users can process thousands of transactions without worrying about the
risks of verification failure. It also strengthens the smart contract between
the two parties as a single STARK proof protects the values of both. 

Further, such a verification approach significantly influences cost management
on a blockchain network. Without STARKs, computations are expensive and use more
gas energy per transaction. Verifying these transactions is also a more
challenging job. 

However, using STARKs token bridge helps process multiple transactions where all
transactions receive a share of the overall cost of the on-chain process in one
batch. It reduces the gas cost per transaction and secures each computation. 

In a nutshell, STARKs has been the game of the show with its incredible
features. The building block offers low computational cost, enhanced user
experience, faster verification, lower gas costs, and increased security. 


SO, HOW ARE STARKS RELATED TO STARKGATE? 

To understand StarkGate properly, one must understand the relation between
STARKs, StarkNet, and StarkGate. There are also other similar terms, like
StarkEx, and we’ll explore them on the way. 

As mentioned earlier, StarkNet is a STARK-based scaling solution. It is designed
by StarkWare as a solution to enhance Ethereum scalability. It goes straight in
contrast with the Ethereum smart contract and was presented with another
StarkWare solution called StarkEx. 

As far as StarkGate is concerned, it is the first version of the StarkNet
bridge. It serves as a token transfer bridge from StarkNet to Ethereum and vice
versa. 

StarkWare designed two solutions for Ethereum scalability, one of them being the
StarkNet. StarkGate is its official token bridge where users can transfer ERC20
tokens between Ethereum and StarkNet. 

Further, unlike other alternatives where users are forced to compromise on
security, scalability, and liquidity when making higher computations, StarkGate
offers comfort, efficiency, and increased scalability. 

Because it is a STARK-based solution, it allows contracts within its ecosystem
to interact with other contracts, even Ethereum contracts. This “interaction”
between contracts is boundless, offering richly versatile protocols. 

In other words, the official token bridge connecting Ethereum and StarkNet is
called StarkGate. Its maximum transactions for the current Alpha Version are
0.25 ETH and 50 DAI.


WHICH TOKENS STARKGATE SUPPORT? 

The following is all you need to know about tokens supported by StarkGate:

 * To employ the fee structure, StarkGate Alpha will first only support ETH on
   Mainnet. WBTC, USDC, USDT, and DAI support will be added later. Check this
   repository detailing all the pertinent contract addresses to know more about
   it.
 * StarkGate Alpha on Goerli supports ETH and a few more ERC-20 coins. You can
   find more details about this in this repository containing the whole list and
   the pertinent Ethereum and StarkNet contract addresses.
 * Note that further down the road there is already speculation of a StarkGate
   token. Trading on the Alpha network will make you eligible for this airdrop
   according to airdrop specialists.


FREQUENTLY ASKED QUESTIONS ABOUT STARKGATE 


 * WHAT IS THE PROCESS OF CREATING AN ORDER ON STARKGATE?

Visit Starkgate.net and log into your account. On the main page, select the
Trade section. Here, you will find a list of coins in the Instant window. Find
and click on your preferred cryptocurrency; the page will show you all the
buy/sell orders. 

There are two things to keep in mind here:

 * The rates of orders are not fixed, as they can fluctuate with time. 
 * You can only place an order if the rate is within your balance. 
 * Each order will have a transaction fee, which you can see before executing
   your order. 


 * IS STARKGATE EXCHANGE SAFE?

Even though StarkGate is the ALPHA version of StarkNet, it is a safer platform
backed by advanced measures and secured technologies. The system uses two-factor
authentication to secure users’ accounts. 

More than 95% of the currency circulating on the system resides in cold wallets.
The platform uses advanced features like Anti Phishing and Web Application
Firewall (WAF) to strengthen security and reliability and protect data against
cyberattacks. 


BOTTOM LINE 

In a nutshell, StarkGate is the Alpha version of StarkNet, offering an ecosystem
where smart contracts can better interact with each other. The platform also
provides other benefits, like increased security, enhanced scalability, and
higher liquidity for higher computations. 

No doubt, the world of NFT and blockchain is growing rapidly. STARKs is
revolutionizing how applications are built on Ethereum, securing them with
advanced security measures and offering higher flexibility and comfort to users.


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