(Foto: Shutterstock)
( Shutterstock)

On wednesday 20th, the decentralized autonomous organization, MakerDAO, responsible for stablecoin DAI, announced the implementation of its protocol on StarkNet, Ethereum’s second-tier scalability solution, scheduled for newxt Thursday (28th).

According to developers, the result will be that the gas cost transactions can be reduced tenfold.

“First layer” is the base layer of a blockchain network (like Ethereum) while “second layer” are faster and cheaper networks than the base layer.

Considered one of the key players in the Decentralized Finance (or DeFi) sector, MakerDAO is an autonomous contract system for borrowing and granting loans without the need for intermediaries.

The MakerDAO protocol is built on the Ethereum blockchain and has two currencies: the stablecoin dai (DAI) and the governance token maker (MKR).