Starknet Transaction Fees Fall Below Arbitrum Amid Network Upgrades

Starknet's transaction fees have fallen below those of Arbitrum, according to recent data. The Starknet network saw its average transaction fee drop to $0.12 this month, a figure that beats the $0.18 average on Arbitrum. This decrease in costs is largely due to upgrades made to the network, including the v0.13.0 upgrade which allows for fee payments in STRK alongside ETH.

The same upgrade also cut Cairo step costs by 50% and reduced L1 data availability costs by 10%. For ERC-20 transfers, the data availability fee reduction reaches 25%. The sequencer uses Pragma or Switchboard oracles to set the STRK/gas rate.

This version lays the groundwork for v3 transactions, which will allow users to pay in STRK for L1 gas consumption. The reduction in costs stems from increasing block size and better batching of storage updates. This upgrade also provides the basis for features like a fee market based on EIP-1559 and Volition mode, which allows users to opt out of expensive L1 data availability.