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Starknet Takes Crypto To The Next Level With New Governance Upgrade

Key Points:

Starknet DAO is set to launch its decentralized governance with the community’s inaugural vote to greenlight the launch of its latest protocol upgrade, Starknet Alpha v0.11.0.

Decentralized autonomous organizations (DAOs) are increasingly becoming popular in the crypto space, and one such entity is the Starknet DAO. The DAO is set to launch its decentralized governance with the community’s inaugural vote to greenlight the launch of its latest protocol upgrade, Starknet Alpha v0.11.0.

Starknet is a scaling solution built on the Ethereum network. The platform aims to solve the scalability problem of the Ethereum network by allowing developers to build and deploy high-performance dApps. The DAO was established to ensure that the project’s governance is decentralized and community-driven.

The first phase of the DAO’s governance will focus on protocol upgrades. Every protocol upgrade released by the Ethereum scaling solution will be subject to community voting. The successful vote will lead to the launch of a new protocol version on the Starknet mainnet.

To kickstart the DAO’s governance, the Starknet Foundation, which was established in October 2022, will play a pivotal role. The foundation will lead grants and funding for the Ethereum scaling protocol and share some of its voting power with several independent delegates to ensure a diverse governance environment for the project. Other participants in this early governance period will include investors, core contributors, and other delegates.

The DAO has chosen March 21 as the start of the voting period for its next upgrade. The vote, which will happen via Snapshot, is expected to take six days to complete. The Starknet protocol upgrade will be launched on the Goerli testnet while the vote is ongoing. This will be followed by a mainnet launch if the vote passes.

Starknet is one of the many projects aiming to solve the scalability problem on the Ethereum network. Its DAO governance model ensures that the community has a say in the project’s direction and upgrades. With the successful launch of the DAO’s governance, the project is well-positioned to attract more developers to build high-performance dApps on its 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.

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Annie

Coincu News

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.