StarkNet is regarded as one of the most exciting projects in the Ethereum scaling ecosystem
Blockchain scaling company StarkNet will work with Immutable X to allow users to trade NFTs frictionless across various layer-2 and layer-3 networks. This would mean that trading becomes more accessible and smoother, benefiting individual gamers and entire communities.
Utility NFTs, like game assets, have traditionally struggled to achieve strong liquidity at scale without compromising decentralization or security. Immutable X, alongside StarkNet aims to solve these issues and allow millions of users to own their in-game assets while playing the biggest games.
This new, enhanced scaling solution allows players to directly trade any asset matched across multiple Ethereum Layer-2 and Layer-3 roll-ups. Therefore, this solves the liquidity fractionalization problem that occurs with every roll-up solution today. Furthermore, this innovation potentially scales up to billions of users.
The protocol will facilitate hundreds of thousands of transactions per second, supporting games with millions of daily players to own their in-game items. Or at least, that’s the idea. With Illuvium, Guild of Guardians, and Ember Sword, the Immutable X network has some interesting products lined up. But none of the existing games attracts the millions of users the industry expects to come.
What is Immutable X?
Immutable X is a high-performance, application-specific StarkEx zk-rollup, facilitating the minting, trading, and transferring of NFTs and ERC-20s. More than 50 million NFTs have been minted on the platform, while Immutable has processed more NFT trades than any other blockchain or L2 in April 2022.
Notable dapps on Immutable X include Gods Unchained, Guild of Guardians, and the popular NFT marketplace VeVe. VeVe made its mark trading in world-renowned IP collectibles such as Back to the Future and Marvel Comics. The network has a heavy focus on gaming, and NFT projects, so it is not trying to compete with Ethereum or other protocols. Instead, it’s carving its niche as a hub for blockchain games that want to scale globally without compromising decentralization and liquidity.
StarkNet is a zk-rollup but also allows developers to deploy custom, composable CAIRO smart contracts and Solidity through Warp for EVM compatibility. StarkNet is widely regarded as one of the most exciting projects in the Ethereum scaling ecosystem. Moreover, suppose a developer has written smart contracts on Layer-1 Ethereum or another EVM compatible chain like Polygon or BNB Chain, they will be able to transpile and deploy them on L2 StarkNet with minimal changes. Transpiling is a term for taking source code written in one language and transforming it into another language with a similar abstraction level.
This makes it easier for projects to migrate from Layer 1 to Layer 2. While StarkNet is still relatively young, its mainnet has been live for months and has a growing dapp ecosystem.
Immutable X & StarkNet Combined
Firstly, it’s essential to understand that Immutable X is a platform aiming to ensure that the next generation of web3 games have the tools they need to scale globally. For dapp developers, if your project requires complex DeFi interactions, you’ll probably want to use StarkNet. If your game doesn’t use complicated mechanics and is more directly focused on gameplay, StarkEx will generally provide a better user and developer experience.
Additionally, some projects may want to deploy parts of their projects to StarkNet, and parts to StarkEx. It’s becoming more common to see projects on Immutable X carry out their asset or token launch on L1, to take advantage of benefits in that environment.
Immutable X will offer their entire product suite on StarkNet, including its order book, minting tools, trading primitives, wallet, marketplace, and more, to make this a reality. In addition, to the existing application-specific rollup. This means CAIRO contracts for minting, trading, and selling NFTs, supported by an ecosystem of products that abstract the differences between NFTs on IMX-supported roll-ups.
Additionally, a portion of fees from every trade across either rollup, as long as it’s processed through the Immutable X sequencer, will be shared with the IMX staking rewards pool. For additional clarity, check out the diagram below — Immutable is the platform, not just a rollup.
StarkNet can remove developer tradeoffs
With StarkNet, developers will be able to deploy custom, composable smart contracts, making it easy for projects to migrate Layer-1 dapp games to Immutable X quickly. To get the ball rolling, Immutable X will offer Layer-3s to games with more than 10 million active users who want dedicated throughput and don’t want to compete for capacity with other dapps.
“This is the future of Ethereum – multiple roll-ups for different purposes and games, each abstracted and unified in liquidity via Immutable X – while never compromising on Ethereum’s security,” said Robbie Ferguson, Co-Founder at Immutable. “The next billion players can scale across hundreds of Layer-3s while never losing the liquidity and composability that makes Ethereum the strongest blockchain network globally. Secure, composable, and insanely scalable: welcome to L323.” he continued.
Ethereum remains the number one choice for game and dapp developers, and Immutable X is focused on bringing the best games in the world to Ethereum. However, until now, any dapp game project that required both scale and composability had no choice but to launch on an arguably less-secure, non-Ethereum Layer 1. Immutable X’s mission is to ensure developers don’t have to choose between access to Ethereum’s security and liquidity and the UX of their game.
The integration of StarkNet as a new settlement environment on Immutable X removes many previous developer tradeoffs, including the lack of custom smart contracts, complex migration from Layer-1 to Layer-2, and composability.
Moreover, this update to Immutable X’s platform will allow liquidity to flow freely between these Layer-2 and three environments. The biggest games on Ethereum can build without restrictions and reach real-world scale.
There are currently many projects in development that point to an exciting future for web3 gaming. Although each project aims to create a great user experience and build a prosperous, long-term economy, each also has different requirements.