Starknet, a significant layer-2 blockchain on Ethereum, offers staking options for transaction validation. This strategy aims for further decentralization.
Staking Opportunities on Starknet
In July, StarkWare proposed a staking feature to the community. Now, users with at least 20,000 STRK tokens, worth approximately $12,000, can stake them for transaction validation rewards. Users with fewer tokens can delegate them to validators. It's important to note that validators risk losing tokens if they act maliciously or neglect duties. There is a 21-day period for withdrawing staked tokens.
Steps Towards Decentralization
This initiative follows Ethereum’s transition to proof-of-stake in 2022. According to Eli Ben-Sasson, CEO and co-founder of StarkWare, Starknet is the first major layer-2 progressing towards decentralization. In April 2024, the smaller Metis network also introduced a staking feature within its ecosystem.
Future Plans
Staking integration into Starknet is part of a multi-phase strategy. Initially, StarkWare will focus on analyzing staking behaviors. These insights will inform decisions on assigning additional duties to validators, such as block creation and confirmation. Eli Ben-Sasson emphasizes the goal of empowering community members to sequence and validate Starknet blocks, which is essential for achieving true decentralization.
Starknet aims to deepen understanding of staking and its network impact, focusing on expanding validator roles. This reflects Starknet’s drive toward true decentralization.
