STACKS FOUNDER PLANS EARLY DECEMBER LAUNCH FOR SBTC UPGRADE
Stacks founder Muneeb Ali indicated that the much-anticipated sBTC upgrade could arrive as early as December 2024.
The new sBTC, or “stacked Bitcoin,” is positioned as the first trustless two-way Bitcoin peg system, designed to enable decentralized finance (DeFi) applications directly on the Bitcoin base layer.
Ali, also CEO of Trust Machines, explained that sBTC will allow smart contracts to send Bitcoin between addresses seamlessly, contrasting it with centralized alternatives like wBTC.
This upgrade represents a step forward in Stacks’ mission to bring DeFi functionality to Bitcoin.
The decentralized nature of sBTC aligns it more closely with Bitcoin’s ethos, as it operates without a single custodian.
