- With the release of its Nakamoto update, Stacks has improved its Bitcoin layer two (L2) solution. The goal of the update is to improve transaction security and speed, which might rekindle interest in Bitcoin’s expanded capabilities.
- Initiating the Nakamoto Upgrade, Stacks aims for increased Bitcoin scalability
On April 22, 2024, Stacks, an L2 protocol that expands the blockchain’s functionality and addresses the scalability issues with Bitcoin, began its Nakamoto update.
With the help of Bitcoin’s robust infrastructure, developers will now have better tools at their disposal to create applications and smart contracts. The Stacks team claims that this update is a calculated attempt to broaden the use of Bitcoin beyond its conventional function as a digital store of value.
The co-creator of Stacks, Muneeb Ali, argues that the update is crucial for Bitcoin since it shows that developers are once again interested in the platform.
Block times are predicted to accelerate with the Nakamoto update, down from the current 10–30 minutes to about five seconds. It is expected that this modification will reduce congestion on the Bitcoin network, enabling faster and more affordable transactions.
According to Muneeb Ali, co-creator of Stacks, we’re living in a really exciting time where builders are coming back to Bitcoin, as he noted in a statement to Bitcoin.com News.
According to the co-creator of Stacks, innovations like Ordinals, Runes, and other layers have brought new use cases to the largest cryptocurrency ecosystem and made Bitcoin fun again for developers.
According to Stacks, L2 solutions have the potential to increase the functionality of the Bitcoin ecosystem and release over $1 trillion in dormant money.
Over the course of the upcoming month, the Nakamoto deployment is expected to strengthen Stacks’ standing as a trustworthy network for accessing the Bitcoin market.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
