OG Bitcoin L2 Stacks Is Getting a Major Overhaul
The Nakamoto update will decouple block production from Bitcoin itself, solving the problem of network congestion Stacks has had since it launched its mainnet in 2021.
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Stacks
The Nakamoto update will decouple block production from Bitcoin itself, solving the problem of network congestion Stacks has had since it launched its mainnet in 2021.
In this week’s issue of CoinDesk’s newsletter on blockchain technology, we’ve got an exclusive interview with Stacks co-creator Muneeb Ali. PLUS: More than $200 million of blockchain project fundraisings.
Muneeb Ali, the co-creator of Stacks and Princeton-educated computer scientist who’s now CEO of the Bitcoin-focused development firm Trust Machines, spoke with CoinDesk’s Jenn Sanasie on the flurry of development and layer-2 building now taking place on the original blockchain.
Crypto trading startup Velar raised $3.5 million to build a suite of DeFi tools for Bitcoin’s nascent DeFi scene
The report by Singapore-based blockchain investment Spartan Group and Kyle Ellicott details how these auxiliary networks have drawn a page from the Ethereum blockchain’s playbook, and could spring up as demand grows for blockspace on Bitcoin.
Stacks [STX], the native token of Stacks Network, rose by 25% on Wednesday on the back of praise from legendary investor Tim Draper.
Celo, which is ditching its standalone blockchain in favor of a new “layer-2” network atop Ethereum, had originally signaled plans to rely on Optimism’s OP Stack, a similar customizable kit to Polygon’s but using Optimism’s “optimistic” technology.
The announcement is part of a growing trend in Ethereum’s layer-2 ecosystem, where developers can create application-specific chains using the blockchain’s native stack.