Starknet, a well-known platform focusing on scaling Ethereum, has recently announced a landmark development. As per Starknet, the company is unveiling L2 staking while moving toward decentralization, signifying its commitment to establishing a resilient, decentralized network simultaneous to its transition to a PoS model. The platform revealed this development on its official X account.
Starknet has always placed great importance on decentralization; as such we are proud to be the first to introduce staking on L2.While Starknet’s transition to a fully decentralized PoS network will take some time, the first phase of staking has already begun and will be… pic.twitter.com/kwXnYOVYAL
— Starknet (@Starknet) September 25, 2024
Starknet Offers Layer 2-Based Staking to Enhance Decentralization
In its latest post, Starknet mentioned that this rollout will potentially be accomplished by this year’s end. This reportedly marks a significant landmark in the wider decentralization strategy of Starknet. The chief components of the initial phase of this staking initiative take into account the release of the STRK staking. It is presently going through resilient security checks. Additionally, community-driven governance plays a crucial role in determining STRK staking’s parameters. The platform has established the initial figures through a public vote.
The Testnet Launch to Take Place in This Quarter
The present roadmap includes a testnet launch in the case of the staking service’s earliest phase by Q4 this year. Following that, the mainnet deployment of this service will reportedly take place. This phased method guarantees the security of the technical foundation. In addition to this, it also permits the community to take part in the evolution of the network.
With the advancement in the decentralization efforts of Starknet, its release of staking services on L2 could establish a precedent for the rest of the projects within the ecosystem of Ethereum. This further solidifies the role thereof as a chief innovator when it comes to scaling.
