Starknet Initiates First Phase of Staking, Marking a Key Step in Its Transition toward Becoming a Fully Decentralized Proof-of-Stake (PoS) Network

Starknet has initiated the first phase of staking, marking a key step in its transition toward becoming a fully decentralized proof-of-stake (PoS) network.

Starknet, a Layer 2 zero-knowledge rollup, has begun the first phase of staking as part of its transition to a fully decentralized proof-of-stake (PoS) network. The network announced the official commencement of staking on September 25, with completion expected by the end of 2024.

According to a post by Starknet on X, the initial testnet and mainnet for this phase are slated to go live in Q4 2024. This development follows a governance vote earlier this month, which marked the network's first community-driven decision since its February 2024 token airdrop.

The governance vote, which passed in September, paved the way for the launch of staking rewards and also introduced Starknet's token-minting curve. This curve is designed to balance network security incentives and inflation by decreasing rewards as more tokens are staked.

In the long term, Starknet's staking model will evolve beyond basic token staking. Future phases aim to integrate advanced features such as real-time attestations and full sequencing and proving functionalities.

This staking rollout highlights Starknet's commitment to progressively decentralizing its Layer 2 network while maintaining scalability and security.