As a seasoned researcher with years spent delving into the intricacies of blockchain technology, I find myself particularly excited about the recent developments at Starknet. The commencement of their first phase of staking is a significant milestone towards their goal of becoming a fully decentralized proof-of-stake network.
Starknet initiates its initial staking process, marking a step forward in its journey towards becoming a completely decentralized Proof-of-Stake network.
Starting from September 25th, I’m excited to announce that I’ve initiated the staking process for Starknet (STRK) within our zero-knowledge rollup layer 2 network. By the end of this year, we aim to finalize the staking on our layer 2 platform.
In the year 2024 Q4, I eagerly anticipate the launch of both the testnet and mainnet for the initial phase of the project, as announced by Starknet on their platform. Can’t wait to see it in action!
First Starknet governance vote
Following the announcement in July about enabling staking on Ethereum‘s (ETH) layer 2 network by the year-end, Starknet admitted that moving towards a completely decentralized proof-of-stake network would require some time for implementation.
In the course of my recent analysis, I’ve observed that the initial stage of STRK staking has been initiated. This decision follows a successful community-wide vote on the related proposition which took place earlier this month.
For the first time, Starknet token holders participated in a governance process with the recent vote, which took place in February 2024 following the token airdrop. Importantly, the approval of this vote established Starknet’s token-minting curve – paving the way for the initial rollout of staking rewards.
Starknet’s minting strategy aims to motivate token owners to contribute to the network’s safety by staking, all while controlling inflation. This approach maintains a balance between the amount of tokens being staked and the rewards – when more tokens are staked, the reward given for staking diminishes.
According to Starknet’s phased approach, they aim to develop simple token staking into advanced features. These enhancements encompass the integration of real-time validations and complete sequencing and proofing.
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2024-09-25 21:00