StarkWare is laying off staff and restructuring its operations as the firm pivots from infrastructure toward building its own revenue-generating products, co-founder Eli Ben-Sasson announced Monday.
The blockchain company, a pioneer in ZK-STARK technology for off-chain computation, is becoming a leaner, product-focused firm. It will build high-value applications on its proprietary stack.
Ben-Sasson described the move as necessary to return the company to a “startup mode” mindset and improve product-market fit. He stated the company's existing ZK tech is the best and safest, but not enough.
"I’m anticipating with confidence our next chapter, in which we use it to advance exciting novel products that generate revenue and which cannot be built on other blockchains today," Ben-Sasson said.
StarkWare will reorganize into two independent business units: one for monetizable applications and another for Starknet development. Each unit will manage its own operations. Founded in 2018, the company previously announced a $100 million funding round in May 2022, valuing it at $8 billion.