Stacks (STX) is the largest Bitcoin layer-2 network by market capitalization, undergoing its most significant upgrade yet. The Nakamoto Upgrade, set for Aug. 28, will bring fundamental changes that will revolutionize decentralized finance (DeFi) applications on Bitcoin. Projects on the Stacks blockchain have been hindered by slow speeds, limiting user experience and product complexity. The upgrade will enhance user experience, particularly for decentralized exchanges like Velar. This upgrade comes at a crucial time, coinciding with Bitcoin's resurgence in interest and innovation, marked by the Ordinals Protocol's introduction. The increase in Bitcoin layer 2 solutions, now over 80, reflects growing institutional interest. The Stacks upgrade and sBTC launch align with Bitcoin's evolving ecosystem, raising questions about Ethereum's future. This shift signifies a new era for Bitcoin, with increased focus on scalability, Web3 development, and DeFi. Overall, the upgrade signals a promising future for the Stacks network and Bitcoin's ecosystem. Read more AI-generated news on: https://app.chaingpt.org/news

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