Starknet, a layer 2 aimed at improving the scalability of Ethereum, will soon offer a staking service. This feature, highly anticipated by the community, will allow users to participate in securing the network and obtain rewards by depositing STRK tokens.
Finally STRK token staking for Starknet?
Starknet, a layer 2 blockchain for Ethereum, is expected to launch its staking program by the end of 2024. This news was announced this Wednesday, July 10, during the Ethereum Community Conference (EthCC) in Brussels by StarkWare CEO Eli Ben-Sasson.
In his “Starknet Improvement Proposal”, It features an improvement to the blockchain and the introduction of staking on the platform, allowing users to secure the network and earn STRK tokens as rewards.
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To participate in the staking program on Starknet, Users will be required to lock their STRK tokens for a period of 21 days and rewards will be proportional to the amount of tokens staked. If the staking proposal is approved by the community, a testnet will be deployed soon, with an official launch on the mainnet planned for the last quarter of 2024.
According to StarkWare, the company that manages the development of Starknet, the staking process will take place in several phases. In the initial phase, Stakers will need to connect to Starknet, interact with staking smart contracts and follow the protocol rules.
The StarkWare and Starknet Foundation teams will then study users' staking habits in order to refine the mechanisms during the following phases.
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An important step for the security and decentralization of Ethereum layer 2
Staking is a major step in Starknet's roadmap, and it should contribute to a true decentralization of the network. Stakers will also play a crucial role in securing the protocol by validating transactions and maintaining the integrity of the Starknet blockchain.
“As Starknet continues its journey towards decentralization, StarkWare is excited to offer the first phase of staking”said StarkWare CEO Eli Ben-Sasson. “This is an important step in building the staking community and technology, providing new opportunities for users and developers.”
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Beyond its security role, staking could also offer new opportunities for both users and developers in the Starknet ecosystem. Where users will be able to generate passive income by staking their STRK tokens, developers will be able to create new applications and services around staking.
Thus, the arrival of staking on Starknet could stimulate interest in layer 2 and attract new users and developers to its ecosystem.
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Source: EthCC
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