Previously, I briefly mentioned a brilliant gem in the BTC ecosystem—Stacks—and its highly anticipated Nakamoto upgrade. Today, I want to share more deeply the charm of this project and how the Nakamoto upgrade has given Stacks wings to soar in the vast sky of the BTC ecosystem.
Stacks, a name not unfamiliar in the crypto world, carries the expectations and dreams of many. It is like a seasoned general who has witnessed the ups and downs of the crypto market, yet has always stayed true to its original intention, dedicated to building a more prosperous and diverse ecosystem. Today, we will discuss how this veteran reinvents itself through the Nakamoto upgrade.
First, let's review some basic information about Stacks. While this information may not be new to those familiar with the crypto world, they are the foundation for understanding the Stacks ecosystem. Stacks, as an old project, has been quietly cultivating in the fertile soil of the BTC ecosystem. It inherits Bitcoin's security but does not stop there. It longs to bring more possibilities to the BTC ecosystem through technological innovation on the Layer1 foundation.
However, the past Stacks was like a bound giant, harboring great ambitions but constrained by the shackles of performance. Its block confirmation time followed closely behind Bitcoin, taking about 10 minutes to complete a confirmation. This is undoubtedly an insurmountable gap for the fast-paced and instant crypto world. Therefore, although Stacks is impeccable in security, it has not truly met the market and users' demands in performance.
But all of this has changed dramatically after the Nakamoto upgrade. Like a flash of lightning breaking through the night sky, the Nakamoto upgrade has brought unprecedented performance improvements to Stacks. According to estimates from the authoritative organization Grayscale, the block time of upgraded Stacks has been shortened from the original 6 minutes (I make a slight correction here, the original text may have some confusion, the actual comparison is of the improvements before and after the upgrade) to an astonishing 5 seconds, while the Gas fee has dropped from 6.65u to 0.25u. This is not just a numerical leap but a qualitative leap in user experience.
Imagine that trading memes on Stacks in the past was like trudging through mud, with every step filled with uncertainty and fatigue. Now, all of that has become effortless, as if walking on clouds, enjoying a dual feast of speed and passion. Higher performance not only means a smoother user experience but also provides a strong boost to the development of the Stacks ecosystem. It enables Stacks to attract more users and developers to jointly build a prosperous and diverse ecosystem. In this ecosystem, DeFi products will emerge like mushrooms after rain, ranging from simple lending to complex derivatives trading; and participants in DeFi will expand from early geeks and crypto enthusiasts to a broader audience, illuminating every corner with the light of financial inclusion.
In addition to performance improvements, the Nakamoto upgrade has brought another heavyweight weapon to Stacks—sBTC. As a core asset in the Stacks ecosystem, its upgrade undoubtedly adds more imaginative space for the future of Stacks. After the Nakamoto upgrade, the upgrade plan for sBTC has also been underway. We will witness the first upgrade of sBTC in early December, and more upgrades will follow in January and beyond.
The upgrade of sBTC not only optimizes the issuance mechanism of Stacks tokens but also paves the way for the launch of sBTC. We anticipate that sBTC can become a brilliant gem in the crypto market, competing alongside peers like WBTC to jointly promote the prosperous development of the BTC ecosystem. The Stacks team is also working tirelessly to promote the adoption of sBTC, collaborating with Bitcoin ATM operator Coinflip to introduce Stacks and sBTC to a broader user base; at the same time, they are bringing sBTC to popular public chains like Aptos and Solana, further expanding its application scenarios.
For sBTC, its adoption is undoubtedly a key indicator of its success. The Stacks team is clearly aware of this, and they are incentivizing the adoption of sBTC in various ways. For example, supporting projects like Moonwell with $WELL tokens to promote the adoption of cbBTC; or leveraging Stacks' strong financial capabilities to engage in new financing to incentivize sBTC's adoption in lending protocols on Stacks, Aptos, and Solana. These initiatives not only showcase the execution power of the Stacks team but also reflect their firm confidence in the future development of sBTC.
Standing at the peak of the Nakamoto upgrade wave, we look back on the growth journey of Stacks and can't help but be filled with emotions. From its initial obscurity to its current prominence, Stacks has proven its value with strength. The rise of sBTC has injected new vitality and hope into the Stacks ecosystem. We look forward to Stacks being able to spark a new revolution in the crypto world with the high performance brought by the Nakamoto upgrade and the rise of sBTC.
Finally, let us turn our gaze to the broader crypto market. Recently, many public chains have been upgrading, such as Fantom Sonic, Avalanche9000, etc. They are all striving to enhance their competitiveness and promote the adoption of public chains. This public chain war will undoubtedly become a highlight of the crypto market in the coming months. As one of them, can Stacks stand out in this battle? Let's wait and see!
