Bitcoin’s oldest Layer 2 solution, Stacks, has completed the much-awaited Nakamoto upgrade. This upgrade is a comprehensive innovation of the PoX consensus mechanism, which aims to solve the efficiency issues with the current PoX mechanism. The new Nakamoto PoX introduces a “fast block confirmation” mechanism that allows transactions to be pre-confirmed through the network’s internal consensus mechanism while waiting for Bitcoin block confirmations.
Stacks has also launched the “Best & Brightest” program, which aims to support innovative projects for the Bitcoin ecosystem. This initiative is likely to bring a wave of innovation based on Bitcoin and redefine our understanding of “Bitcoin applications.” The success of these innovations will ultimately depend on market testing when more innovative applications based on Stacks appear.
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<p>The post Stacks: Bitcoin’s L2 Nakamoto Upgrade and Future DeFi Potential first appeared on CoinBuzzFeed.</p>
