StarkWare will improve scalability and privacy in blockchains using STARK technology.
Starkware Industries (Starkware) was founded on January 1, 2018 by Alessandro Chiesa, Eli Ben-Sasson, Michael Riabzev and Uri Kolodny. They are also the founders of ZCash, this project was designed to add privacy features in the crypto world and thereby increase the mass deployment. The problems ZCash faced are: the underlying privacy technology of ZCash is NOT resistant to quantum computings, and ZCash also requires a “trusted setup” function for its privacy functions, which goes against the very idea of the blockchain as it is vulnerability. STARKs is designed to solve the problem of hidden inflation (when breaking into a “trusted setup” will allow printing tokens from the thin air), eliminating the need for a “trusted setup”. In its whitepeper, zkSTARK stands for Zero Knowledge Scalable Transparent Argument of Knowledge. They also plan to make their token quantum-stable. It is argued that the founders of Stark allegedly tested their original program in the FBI database with a million entries, and the technology easily processed that amount of information.
Token: Currently, Starkware does not plan ICOs and announced that they will study the potential of Tech4Tokens (T4T) when they invest their technologies in exchange for tokens.
Team: Eli Ben Sasson, Co-Founder / Chief Scientist. In 2001 he completed his PhD thesis in computer science at Hebrew University. He completed a post-doctoral course at the Massachusetts Institute of Technology (MIT). Currently he is also a professor at the Technion - Israel Institute of Technology since 1975.
Alessandro Chiesa, Co-Founder / Chief Scientist. Alessandro is also currently an Associate Professor in the Computer Science Department at the University of California at Berkeley. He has a bachelor degree, master degree in engineering and PhD in computer science from MIT. Co-founder of the "SIPR Lab" project. Co-founder of Zcash and is the member of the Zcash Academic Council. He also participates in the Algorand project as a cryptocurrency advisor.
Uri Kolodny, Co Founder / CEO, a successful Entrepreneur, the creator of many technology companies over the past 13+ years: Modria Technologies LTD, Greylock Partners & ICV, Timba, OminGuide.
Michael Riabzev, Co Founder / Chief Architect. He has 14 years of software development experience, worked at Intel and IBM Labs. He has a bachelor degree in Mathematics and master degree in Computer Science. PhD in computer science at the Technion - Israel Institute of Technology.
A top-level team, a huge amount of scientific merit and a successful business make up an explosive mixture.
Conclusion: Starkware is a prime example when technology is already knocking at your door. If they manage to solve the problems they face, we will see the birth of a new generation cryptocurrency. The project worth following and that’s what we are going to do.