Volition, a new product by StarkWare engineered for the permissionless Starknet network, aims to make microtransactions feasible on the Ethereum blockchain. By significantly diminishing Ethereum transaction fees, Volition will enable the network to support transactions analogous to those on Bitcoin’s Lightning Network.
The product is expected to become active via Starknet v0.13.0 release later this year, where it will effectively eliminate the barrier to microtransactions according to Uri Kolodny, the CEO of StarkWare. He stated that this new development would be incredibly important for promoting crypto adoption, particularly in emerging economies where it would have noteworthy benefits.
Despite Ethereum’s recent significant advancements, the prevalent gas fees, which Volition seeks to address, continue to pose challenges for frequent users, particularly those utilizing decentralized applications.