2024-11-27
November 26, 2024 – Starknet, a
leading Ethereum Layer-2 scaling solution, has officially launched its first
phase of staking, allowing STRK token holders to actively contribute to network
security while earning rewards.
This is a step toward decentralization
within the Starknet ecosystem.
Key Features of Starknet Staking
Solo Staking
Participants with at least 20,000 STRK tokens (equivalent to approximately $12,000) can now stake as validators, securing the network and earning financial incentives.
Delegated Staking
Token holders with smaller amounts can
delegate their STRK to validators, enabling broader participation in the
staking process without running a full node.
Validators are required to operate full
nodes, performing essential tasks such as interacting with staking contracts.
Over time, their responsibilities will
expand to include block creation and validation as part of Starknet’s phased
rollout.
Decentralization in Focus
Eli Ben-Sasson, CEO of StarkWare,
emphasized the importance of a gradual approach to staking.
“It took Ethereum three years to
perfect its proof-of-stake transition. We are similarly committed to a
step-by-step process to ensure stability and community involvement,” he said.
StarkWare and the Starknet Foundation
plan to use this initial phase to analyze staking behavior and on-chain data to
refine the system.
The introduction of staking will
eventually enable community members to sequence and validate blocks,
solidifying the network's decentralized governance.
Record-Breaking Performance
On October 29, 2024, Starknet
demonstrated its scalability with a peak throughput of 857 transactions per
second (TPS) during a stress test.
Over a 24-hour period, the network
maintained an average of 127.5 TPS, showcasing its ability to handle
high-demand scenarios, including gaming environments.
Bitwise Joins as Public Validator
In anticipation of the staking launch,
Bitwise Asset Management announced its role as a public validator.
This move allows any STRK holder to
delegate tokens to Bitwise while institutional clients benefit from dedicated
validators.
Staking Overview
Participants can engage in staking via
two main methods:
1. Validator
Staking: Requires a minimum of 20,000 STRK tokens and a full node setup.
Validators earn rewards proportionate to their contribution and will assume
greater responsibilities in later phases.
2. Delegated
Staking: Allows users to delegate any amount of STRK to validators, sharing
in the rewards without the need to manage a node.
Withdrawals of staked tokens and
rewards require a 21-day waiting period, ensuring network stability.
Starknet has become the first layer-2 on
Ethereum to let users earn money by staking STRK tokens.
For more information visit https://www.starknet.io/staking/a-guide-to-delegate-your-stake/.
