Stacks Blockchain: The Future of Decentralized Finance
How Stacks is Revolutionizing the Bitcoin Ecosystem
The information provided is for informational purposes only and should not be considered financial advice. Always do your own research before making any financial decisions.
There’s a new player booming in the decentralized finance (DeFi) space—Stacks, built right on top of the Bitcoin network. But what makes Stacks stand out? It’s the layer of smart contracts, decentralized apps (dApps), non-fungible tokens (NFTs) and revolutionary Proof of Transfer (PoX) that it brings to Bitcoin.
With Stacks, developers can build on the most secure blockchain in existence without changing Bitcoin’s core protocol. Think of Stacks as the key that unlocks programmability on Bitcoin, giving users the best of both worlds: Bitcoin’s rock-solid security and the flexibility to build innovative applications.
Today September 15th, 2024, Stacks will have completed the move to a faster, more efficient and more secure version of itself, through what is aptly named the “Nakamoto Upgrade”. This upgrade will bring 5 to 10 second block times, better finality to Bitcoin, efficiently addressing Miner Extractable Value (MEV) and so much more.
- Cycle 92 to Cycle 93: Signers get one full stacking cycle (Cycle 92) to adjust their setups and ensure a successful handoff.
- Block 861,500: Confirmation of a successful handoff allows core developers to pick this block for the final hard fork.
- Cycle 93 (Reward Phase): Final hard fork block is determined by core developers.
Epoch 3.0: Nakamoto rules become fully active, bringing fast blocks and full Bitcoin finality at the chosen hard fork block.
Stacks has a vibrant community of projects, developers and users who’re building out the future of decentralized finance on top of Bitcoin. Some of these include Zestprotocol, a DeFi lending protocol built on Bitcoin and Stacks, and Velar, a Decentralized Exchange (Dex) and a powerhouse releasing a PerpDex (Decentralized Perpetual Derivatives Exchange on Bitcoin), soon after the Nakamoto upgrade.
The Nakamoto upgrade is hailed as a transformative step, offering fast, secure, and scalable transactions while unlocking new opportunities for Bitcoin’s ecosystem. The future of BitcoinDeFi is heavily reliant on decentralized ecosystems with a strong Bitcoin first mindset.
Stacks is having it’s 21 days of Nakamoto with 21 days of amazing content catching people up with what’s going on. This started on Wednesday, August 28th, the beginning of the Nakamoto upgrade roll out.
The Stacks Nakamoto upgrade is set to officially be in effect on October 9th, after Bitcoin block 864864!
Stacks operates through a consensus mechanism called Proof of Transfer (PoX), which anchors itself to Bitcoin, using Bitcoin’s blockchain as the final arbiter of security. This ensures that even though Stacks adds new functionality, it stays rooted in Bitcoin’s trusted infrastructure. The best part? Bitcoin itself remains unchanged, while Stacks enables a whole new range of decentralized services that weren’t possible before.
As DeFi continues to grow, Stacks is ensuring that Bitcoin remains at the heart of this evolution. No longer just peer-to-peer payments, Bitcoin’s ecosystem is expanding into programmable money and decentralized applications—thanks to the power of Stacks and Bitcoin DeFi across the ecosystem.
