To start decentralized operation
Cryptocurrency Ethereum (ETH) L2 network “Starknet” announced on the 15th that it will start decentralized operation.
Started operation by a delegator of its own token “STRK” announced last year. This will allow the community to vote on how Starknet operates. Since the STRK token has not yet been launched, delegators will need to apply. On the other hand, the decentralized operation is still in the first stage, and it will first focus on voting on protocol upgrades.
gm Starknet fam 🌞
The release of Starknet alpha v0.11.0 is just around the corner, and it will be up for a vote. This marks the beginning of the first phase of Starknet Governance.
Now y’all can help shape Starknet by voting on protocol changes.https://t.co/awidF5GnuJ
— Starknet ✨🐺 (@Starknet) March 15, 2023
connection: Ethereum L2 “StarkNet”, token (STRK) released to mainnet
What is Starknet
A permissionless (free participation type) L2 network that introduces a technology called ZK Rollup. Eliminate network congestion by utilizing zero-knowledge proofs and processing some transactions off-chain.
connection: What is “Rollup”, a solution to the scaling problem | Detailed explanation of the mechanism and points to note
The first community vote will be the launch of Starknet Alpha v0.11.0. All future Starknet version upgrades will be performed on the Goerli testnet first. Then, while watching the test situation, within 6 days from there, the community will vote on whether to upgrade or not.
If the majority votes in favor of this 6-day vote, the new version will be launched on the mainnet after the voting ends. Voting for v0.11.0 will begin on the 21st.
Starknet announced in July last year that it would issue its own tokens and decentralize its operations. At the time, it was clear that community operations were planned to begin in 2023.
connection: Ethereum L2 “StarkNet” issues its own tokens and decentralizes operations
Distributing Foundation Voting Rights
At the time of this July announcement, it also announced that it would launch a new foundation for decentralization. Then, in November, it was reported that a foundation named “Starknet Foundation” had been officially established.
Starknet has been announcing its decentralization of operations since July. In it, he explained that the foundation’s voting rights would be distributed. For the first ballot, 33% of voting rights were delegated. The purpose of the Foundation’s delegation is to enable a broad range of community members to participate in its operations. Starknet voting also allows other token holders to delegate their votes.
He stressed that delegating voting rights does not imply sending tokens. He also said that the foundation’s delegation process may not be the best, and that it will continue to consider it.
connection: Released Ethereum L2 “StarkNet” and node client “Papyrus”