, layer-2 network Stacks is looking to reinvent itself. As early as April 16, the major player in the Bitcoin L2 sector will kick off the release of its so-called Nakamoto upgrade, in the works for years – designed to dramatically increase the project's speed.It’s a defining moment for the blockchain project that has been in development for nearly half a decade, but officially launched its mainnet in 2021.
The upgrade comes at a time of exploding interest in Bitcoin L2s, largely driven by the “Ordinals revolution” that began last year that made it possible to launch a number of never-before-seen tokens – from meme coins to NFT-like “inscriptions” – on a blockchain once thought to be in development hell.Alongside BTC’s dramatic 50% rise since the launch of spot bitcoin exchange-traded funds in the U.S. in January, Stack’s native token, STX, has risen over 70%.
Nakamoto, which will kick off at Bitcoin block height 840,360, will address this problem of slow settlement speed essentially by introducing a form of parallel processing that allows Stacks miners to produce multiple blocks in between Bitcoin blocks., which is a blend of proof-of-stake and mining called “proof-of-transfer.
In the spirit of decentralization, Ali said, no author names were added to the papers. Upwards of 30 engineers from a number of Stacks related entities contributed to the effort., according to the current roadmap estimations. And while not as big of a technical overhaul of the Stacks network itself, the ability to bridge over BTC onto Stacks may be an even bigger deal for the network’s economy.
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