Starknet’s Decentralization Milestone
The Starknet network has achieved a significant milestone with the rollout of Stage 1 in its decentralization journey, as reported by L2BEAT. This advancement indicates that users will no longer be entirely reliant on the central developer team for governance and operation of the network.
Vitalik Buterin, co-founder of Ethereum, has publicly recognized this achievement, positioning Starknet among the few Layer 2 solutions that deserve close attention in the evolving crypto landscape.
Token Distribution and Governance
Remarkably, Buterin himself participated in a token distribution event last year, receiving STRK tokens through Starknet’s LockedTokenGrant initiative. Interestingly, approximately nine months ago, he executed a transfer of over 2 million tokens from his Gnosis Safe to an unnamed wallet, a move that went without commentary or any identification, thus rendering the funds less visible to the average observer. The reasons behind this covert transfer remain speculative, ranging from privacy concerns to asset custody measures.
Security Enhancements in Stage 1
With the designation of Stage 1, Starknet has implemented essential security protocols. This includes:
- The introduction of an upgrade delay
- Establishing a security council that includes members from outside of the core team
- Providing mechanisms for a minority of council members to step in should the sequencer exhibit signs of censorship or technical failures.
This marks a shift from the previous Stage 0, where reliance on the development team was the norm and user safeguard mechanisms were virtually non-existent.
Aiming for Full Decentralization
Looking to the future, Starknet has ambitions to culminate its progress in Stage 2, representing full decentralization where no single entity possesses the authority to alter operational rules, prevent transactions, or freeze funds. As it stands, no solution has yet arrived at this level of decentralization, but Starknet is aiming for this goal by early 2026.
Cross-Chain Aspirations
Furthermore, Starknet is not confining itself to Ethereum’s ecosystem; plans are in place for a direct bridge with Bitcoin, aspiring to be the first Layer 2 network to seamlessly operate within both cryptocurrencies’ ecosystems. To support this vision, StarkWare, the team behind Starknet, is currently acquiring both Ethereum and Bitcoin assets to reinforce their cross-chain ambitions.
