Starknet, an open-source framework that aims to provide scalability and privacy to decentralized applications (dApps) built on Ethereum, has experienced significant growth in various DeFi apps on the network over the past few months. Its total value locked (TVL) has recently reached a new all-time high of $10.49 million, a ten-fold increase from $1.449 million at the beginning of March.

Starknet leverages a layer-2 scaling technique known as zero-knowledge rollups to address the limitations of the Ethereum blockchain, such as high transaction fees and slow transaction processing times. The next upgrade of the network, version 0.12, is expected to result in a significant increase in the throughput on Starknet and is due to be released in June.