Developers of StarkNet announced an upcoming airdrop of a new token called STRK, which sparked significant interest in the crypto community. The information surfaced thanks to the popular blockchain researcher Colin Wu, who shared the news on the X social network. The monitoring page for the STRK distribution data is already available, suggesting that the airdrop dates will be announced soon.

On February 7, 2024, the StarkWare team behind the StarkNet project presented a proposal for managing the inflation of the STRK token, suggesting increasing its total supply and setting the annual inflation rate at 4%. StarkNet is not a standalone cryptocurrency but rather a scalable protocol for executing smart contracts on the Ethereum blockchain developed by StarkWare. The protocol utilizes zero-knowledge proofs technology, which allows validating the execution of smart contracts without revealing specific data and the need for trust, significantly increasing network throughput and reducing transaction fees.

The main goal of StarkNet is to provide developers with tools for creating complex and computationally intensive operations in smart contracts on Ethereum with minimal cost and high performance. This is aimed at stimulating the creation of new opportunities in the decentralized finance (DeFi) sector, the gaming industry, digital identities, and other Ethereum-based applications.

On February 10, Ethereum was trading at $2490, which is 1.03% lower compared to the previous 24 hours, and the market capitalization of the digital currency decreased to $299.34 billion.