The post Starknet to Transition to a Decentralized Proof-of-Stake (PoS) Network in Four Phases appeared on BitcoinEthereumNews.com.

Starknet, an Ethereum layer-2 scaling network, has announced its transition to a decentralized proof-of-stake (PoS) model, which will occur over four phases. This major shift is aimed at decentralizing the network, ensuring enhanced security, scalability, and community governance. The transition will begin with the introduction of a permissionless staking protocol and continue with validators gradually taking on more responsibility for block production and network security. Starknet’s phased approach emphasizes community feedback and allows for flexibility and adjustments at each stage. Overview of Starknet’s Transition to PoS Starknet’s move to a decentralized PoS network represents a significant evolution for the layer-2 scaling solution, which has been integral in scaling Ethereum by offering lower transaction fees and faster finality. The transition to PoS will bring more decentralization to the network, making it more resilient and open for participants. Key Phases of Starknet’s Transition to PoS: Phase 1 – Permissionless Staking Protocol: Starknet will introduce a permissionless staking protocol, allowing any participant to stake their tokens in the network. This marks the beginning of decentralized staking, where stakers can earn rewards by locking up their tokens and helping secure the network. Phase 2 – Validator Attestation to Blocks: Validators will begin attesting to blocks, verifying the validity of transactions and contributing to the network’s security. This step will help establish the foundation for the full decentralization of block production. Phase 3 – Validator Block Voting and Sequencing: In the third phase, validators will take on a more active role by validating and voting on sequenced blocks. This phase introduces decentralized governance into the block validation process, allowing validators to have a say in the sequencing of transactions. Phase 4 – Full Block Production and Security Management: The final phase will see validators fully managing block production and network security, ensuring that the Starknet…

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Filed under: News - @ October 16, 2024 6:30 pm