Eli Ben-Sasson, president of StarkWare, a company that develops Ethereum Layer 2, said in an interview with Decrypt that StarkWare’s native token was originally scheduled to be released in September but was delayed to October due to Solidity contract improvements.
In the StarkWare president’s recent interview with Decrypt it was revealed that it was originally scheduled to launch in late September, will be available on-chain in October and all tokens will be locked immediately after initial release.
But the project will not initially offer users free tokens, as all tokens will be locked immediately after release, “in preparation for the long-term development of the team.”
StarkNet is the name of the layer 2 scaling technology for Ethereum, and StarkWare is the development team that built it. The technology itself leverages rollup technology to improve the scalability of the network.
The launch of the StarkNet token will contribute to further perfecting the network’s decentralization. StarkNet token will serve 3 purposes. One is to pay transaction fees on StarkNet, the second is to act as a governance token, and the third is to support the technology’s consensus mechanism.
As shared by StarkWare in July, there will be 10 billion tokens initially created. Of which, 17% will be for contributors such as investors of the development team; 32.9% will go to development partners and employees and 50.1% to the platform.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Foxy
CoinCu News
Author
News
StarkWare Token Delayed To October 2022
Eli Ben-Sasson, president of StarkWare, a company that develops Ethereum Layer 2, said in an interview with Decrypt that StarkWare’s native token was originally scheduled to be released in September but was delayed to October due to Solidity contract improvements.
In the StarkWare president’s recent interview with Decrypt it was revealed that it was originally scheduled to launch in late September, will be available on-chain in October and all tokens will be locked immediately after initial release.
But the project will not initially offer users free tokens, as all tokens will be locked immediately after release, “in preparation for the long-term development of the team.”
StarkNet is the name of the layer 2 scaling technology for Ethereum, and StarkWare is the development team that built it. The technology itself leverages rollup technology to improve the scalability of the network.
The launch of the StarkNet token will contribute to further perfecting the network’s decentralization. StarkNet token will serve 3 purposes. One is to pay transaction fees on StarkNet, the second is to act as a governance token, and the third is to support the technology’s consensus mechanism.
As shared by StarkWare in July, there will be 10 billion tokens initially created. Of which, 17% will be for contributors such as investors of the development team; 32.9% will go to development partners and employees and 50.1% to the platform.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Foxy
CoinCu News
Other Posts
Related Posts
Latest
New York Techie Bagged $72M from $15K Investment in Ethereum — Here’s How BlockDAG Can Offer Similar Jackpot
Press Release
New York Techie Bagged $72M from $15K Investment in Ethereum — Here’s How BlockDAG Can Offer Similar Jackpot
Best Altcoins to Buy Today: Qubetics Rides 1000x Potential to Hit $2.6M, Ethereum Stays Rangebound, Tron USDT Transactions Hit $52B
