As a seasoned analyst with years of experience in the crypto space, I find Starknet’s foray into staking on its mainnet an exciting development. Having closely observed the evolution of layer 2 solutions, it’s refreshing to see one taking this significant step towards decentralization. The phased rollout strategy is commendable as it allows for a steady testing and feedback process, ensuring a smooth transition to full-fledged staking capabilities.
Starknet is pioneering as the initial Layer 2 network to deploy a staking system, initiating Phase 1 of STRK staking on its primary network.
In simple terms, Starknet (STRK), a scaling solution built on Ethereum, unveiled the commencement of staking on its main network, making it the first layer 2 network to offer such a feature. The initial phase launch presents a staking infrastructure, enabling users to function as validators or delegators, according to an announcement made by Starknet on November 26.
The first stage of STRK Staking has just been activated on Mainnet!
— Starknet 🐺🐱 (@Starknet) November 26, 2024
To become a validator on the Starknet network, it’s mandatory to hold at least 20,000 STRK (equivalent to around $11,400 currently) and run a full node. However, delegators can allocate their tokens without needing specific technical skills. Notably, wallets like Argent and Braavos are planning to facilitate staking. Moreover, established validators such as Luganodes, Validation Cloud, and Staking Rewards have pledged their support for this initiative.
Starknet steps closer to decentralized PoS network
Starknet’s staking structure marks an essential advancement on its journey towards becoming a completely decentralized Proof-of-Stake network. The gradual deployment starts by embracing permissionless staking and delegate stake options, empowering validators to manage full nodes in readiness for upcoming phases.
Phase 2 entails validators confirming blocks, then in Phase 3, there will be a process of block voting and validation. In Phase 4, validators will take over the duties of producing blocks and ensuring network security. Although Starknet has not disclosed a definitive schedule for all phases, the phased rollout is designed to test the system, collect community input, and facilitate a seamless transition.
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2024-11-26 16:46