Key Points
Starknet’s Staking Framework Launch
Starknet, an Ethereum-based scaling solution, has announced the launch of staking on its mainnet. This makes it the first layer 2 network to do so. The phase 1 rollout of this staking framework allows users to participate as validators or delegators, according to a November 26 announcement by Starknet.
Validators, who are required to run full nodes, must stake at least 20,000 STRK. This is approximately $11,400 as of the time of the announcement. Delegators, on the other hand, can delegate tokens without any technical requirements. Starknet has also noted that wallets such as Argent and Braavos will support staking. In addition, professional validators like Luganodes, Validation Cloud, and Staking Rewards have joined this initiative.
Starknet’s Progress Towards a Decentralized PoS Network
The staking model introduced by Starknet is a crucial step towards its aim of becoming a fully decentralized proof-of-stake network. This phased rollout begins with permissionless staking and stake delegation. This allows validators to operate full nodes and prepare for the upcoming stages.
Phase 2 of the rollout will involve validators attesting to blocks. This will be followed by block voting and validation in phase 3. By phase 4, validators will have full responsibility for block production and network security. While Starknet has not provided a full timeline for all the phases, the gradual implementation is designed to test the system, gather community feedback, and ensure a smooth transition.
