I worked in Rootstock ecosystem for a period of time at Sovryn. So I am aware of the differences.
When I looked into stacks to compare the differences I realised some red flags.
Stacks blockchain doesn’t use BTC as the native currency. It uses its own token Stx.
When stacks talks about bitcoin. It’s wrapped bitcoin in the stacks blockchain like how WBTC is erc20 token that represents bitcoin on ethereum.
The bitcoin on stacks in held in SEC approved custodian company called Anchorage who must comply with US laws. Trusting the government with your bitcoin.
I am all for bitcoin sidechains. Ones where bitcoin is the native currency and fees go to miners like Rootstock. Preferably where there is no custodians/federations like Drivechain.
The truth is Stacks managed to raise a whopping $150 Million at peak of the bull market from some dumb VC investors who know nothing about bitcoin. They have so much cash to marketed themselves as the best bitcoin layer 2 and platform for bitcoin defi, ordinals and nfts.
Sovereign Matt
npub1fl…zeknp
2023-10-28 04:07:04
in reply to nevent1q…qu2j
Author Public Key
npub1fl7pr0azlpgk469u034lsgn46dvwguz9g339p03dpetp9cs5pq5qxzeknpPublished at
2023-10-28 04:07:04Event JSON
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"content": "I worked in Rootstock ecosystem for a period of time at Sovryn. So I am aware of the differences.\n\nWhen I looked into stacks to compare the differences I realised some red flags. \n\n\nStacks blockchain doesn’t use BTC as the native currency. It uses its own token Stx.\n\nWhen stacks talks about bitcoin. It’s wrapped bitcoin in the stacks blockchain like how WBTC is erc20 token that represents bitcoin on ethereum.\n\nThe bitcoin on stacks in held in SEC approved custodian company called Anchorage who must comply with US laws. Trusting the government with your bitcoin. \n\nI am all for bitcoin sidechains. Ones where bitcoin is the native currency and fees go to miners like Rootstock. Preferably where there is no custodians/federations like Drivechain. \n\nThe truth is Stacks managed to raise a whopping $150 Million at peak of the bull market from some dumb VC investors who know nothing about bitcoin. They have so much cash to marketed themselves as the best bitcoin layer 2 and platform for bitcoin defi, ordinals and nfts.",
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