Starknet debuts Ethereum layer-2 staking with Bitwise as early validator

Starknet has launched its staking programme for STRK tokens, becoming the archetypal Ethereum layer-2 web to alteration staking, according to a Nov. 26 connection shared with CryptoSlate.

The programme aims to empower token holders to enactment successful securing the web portion earning rewards.

In this archetypal phase, token holders with astatine slightest 20,000 STRK tin involvement straight connected the network. Those with less tokens tin delegate their holdings to validators. Both groups volition look a mandatory 21-day lockup play for unstaking, with rewards distributed proportionally based connected the magnitude staked.

Meanwhile, Starknet besides encourages participants to usage staking-enabled wallets, paving the mode for broader organization and retail adoption.

StarkWare CEO Eli Ben-Sasson said the motorboat of staking is simply a important infinitesimal for the network. He emphasized that the staking inaugural showcases blockchains’ imaginable to grip expanding request done rollups.

This milestone follows Starknet’s caller accomplishment of processing 857 transactions per second, mounting a benchmark for different Ethereum layer-2 solutions.

Bitwise joins an aboriginal validator

According to a Nov. 26 announcement, crypto concern steadfast Bitwise has go 1 of the archetypal validators for Starknet’s staking program.

The Bitcoin ETF issuer stated that its Bitwise Onchain Solutions, known for its extended Ethereum staking experience, volition enactment STRK staking. The institution has offered a nationalist validator code that enables STRK holders to delegate their tokens easy to the platform.

The institution explained that it views Starknet arsenic a fitting prime to grow its staking products into layer-2 networks, citing the network’s relation successful advancing blockchain exertion done innovations similar ZK-STARKs and its Cairo programming language.

Bitwise CTO Hong Kim said:

“For years, Starknet has been pushing the frontiers of scaling and information with ZK-STARKs and its autochthonal smart-contract language, Cairo. This web has fixed backmost a large woody to the Ethereum assemblage portion staying committed to its imaginativeness of gathering a much accessible, transparent, and sovereign internet, the ‘Integrity Web.’”

The station Starknet debuts Ethereum layer-2 staking with Bitwise arsenic aboriginal validator appeared archetypal connected CryptoSlate.