The Nakamoto Upgrade Activates on Stacks Network
Exciting news for you in the crypto world! The long-awaited Nakamoto upgrade on the Stacks layer-2 network is finally underway. This upgrade is set to revolutionize transaction speeds on the network, bringing about significant improvements.
What Does the Nakamoto Upgrade Mean for Stacks?
Here’s a breakdown of what the Nakamoto upgrade entails for the Stacks network:
- The upgrade decouples Stacks network’s block production from Bitcoin, leading to a 120x increase in block production speed.
- This change will result in confirmation times going down from an average of 10 minutes to mere seconds.
- Stacks operators have a window of Stacking cycle 92 to implement the upgrade fully.
- After this period, the final hard fork block will be selected, and Nakamoto consensus rules will come into effect.
Nakamoto Activation: A Brief History
Here’s a quick recap of the journey toward Nakamoto activation:
- The Nakamoto upgrade was partially implemented in April, with the network starting to mock-sign transactions under the new proof-of-transfer (POX) contract.
- POX involves Stacks “miners” burning BTC to mine Stacks blocks and earn STX rewards.
- The activation was delayed by eight weeks to focus on security features and code audits.
- With Nakamoto, Stacks will be faster, and transactions will inherit full Bitcoin finality.
The Future of Stacks Post-Nakamoto
Looking ahead, here are some key priorities for Stacks:
- Facilitating sBTC adoption and enhancing interoperability with other blockchains.
- Developing more decentralized applications on the network’s improved system.
- Researching BitVM, a computational framework that has led to innovation in layer-2 designs on Bitcoin.
What’s Next for Stacks?
As the Stacks network evolves post-Nakamoto, there are exciting developments on the horizon:
- sBTC is expected to be code complete in September, offering a decentralized way to bridge BTC to the Stacks network.
- Emphasis will be placed on fostering sBTC adoption and expanding the network’s capabilities.
Closing Thoughts
As you navigate the evolving landscape of Bitcoin layer-2 networks, remember:
- Research new projects carefully before investing.
- Exercise caution and avoid being swayed by promises that seem too good to be true.
Hot Take: The Future of Stacks Network
Exciting times lie ahead for Stacks as the Nakamoto upgrade ushers in a new era of possibilities. Stay tuned for more updates on this groundbreaking development!
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