According to Foresight News, Starknet has announced that while the transition to a fully decentralized Proof-of-Stake (PoS) network will take some time, the first phase of staking has already commenced and is expected to be completed within this year.
Starknet emphasized that the move towards decentralization is a gradual process, requiring careful planning and execution. The initial phase of staking marks a significant milestone in this journey, setting the foundation for future developments. The network aims to ensure a smooth transition by implementing staking in stages, allowing for adjustments and improvements along the way.
The completion of the first phase within this year indicates Starknet's commitment to advancing its decentralization goals. As the network progresses through subsequent phases, it will continue to focus on enhancing security, scalability, and user participation. The phased approach is designed to mitigate risks and ensure the stability of the network during the transition period.
Starknet's transition to a PoS network is part of a broader trend in the blockchain industry, where many projects are moving towards more sustainable and decentralized models. By adopting PoS, Starknet aims to reduce energy consumption and increase network efficiency, aligning with the growing emphasis on environmental sustainability in the blockchain space.
As the first phase of staking unfolds, stakeholders and participants are encouraged to stay informed and engaged with the process. Starknet will provide regular updates and guidance to ensure a transparent and inclusive transition. The network's commitment to decentralization reflects its vision of creating a more secure and efficient blockchain ecosystem.