Starknet, Layer-2 Chain on Ethereum, to Open Staking By End of Year

Ben-Sasson put forth a Starknet proposal to the public, proposing an option for users to decide if they want to function as validators. Rewards would be commensurate with the quantity of STRK tokens staked by the users.

As a researcher studying the latest developments in the cryptocurrency world, I’ve come across an interesting piece of news: stakers are required to keep their tokens secured for a 21-day tenure before they can access their funds again, as per information disclosed in a recent press release.

Should the community give their approval, a test network for Starknet staking is expected to be launched imminently. Subsequently, the mainnet will incorporate staking functionality toward the end of 2024.

In the initial rollout of staking for Starknet, users will be required to link up with our network and engage with the designated staking contracts. It is essential that they comply with the established protocol guidelines during this phase. Our teams at StarkWare and the Starknet Foundation will closely monitor user behaviors and interactions during this time in order to implement future updates and enhancements to the staking mechanism.

During later phases, stakers are required to validate block contents in real-time by providing attestations to StarkWare. In the concluding stage, their responsibilities will shift to carrying out sequencing and proof tasks to ensure the network’s security.

I, as an analyst at StarkWare, am thrilled to announce the initiation of Starknet’s decentralized evolution with the introduction of the initial staking phase. This significant milestone marks the beginning of constructing our staking community and technology, providing innovative prospects for both users and developers.