Starknet token staking to start by the end of 2024

Staking Plans for StarkWare’s Starknet

StarkWare’s Starknet is set to introduce staking by the end of 2024, enhancing blockchain resilience and decentralization. The first staking phase, as per the Starknet Improvement Proposal (SNIP), is scheduled to launch on the mainnet in Q4 2024, pending community approval through a governance vote.

Utility of STRK Tokens

STRK tokens function as governance tokens for Starknet, enabling holders to vote on crucial proposals and pay transaction fees. The upcoming extension of STRK usage to staking services will play a vital role in the network’s operational capacity and security. Staking services may involve sequencing, L2 consensus, STARK-proving, and data availability provisioning.

Phased Approach to Staking

StarkWare plans a phased staking approach, starting with basic token staking and expanding to real-time attestations, sequencing, and proving activities for network security. This strategic evolution aims to build a robust staking community and technology while offering new opportunities for users and developers.

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