Jimmy Floyd on Nostr: 💲 The Bitcoin ecosystem just hit a major milestone with the full activation of ...
💲 The Bitcoin ecosystem just hit a major milestone with the full activation of Stacks Nakamoto upgrade at block 867867.
📝 For those unfamiliar, Stacks is a Layer 2 solution built on top of Bitcoin.
🍿 What You Need to Know About the Nakamoto Upgrade and Bitcoin DeFi:
1️⃣ DeFi Potential: Currently, just 0.012% of Bitcoin is used in DeFi. The upgrade aims to expand Bitcoin-backed lending, stablecoins, and other DeFi functions.
2️⃣ Faster Transactions: Using the Stacks Layer 2, transactions process in under 5 seconds, compared to Bitcoin’s 10-minute block time, without changes to Bitcoin's core.
3️⃣ Security: Nakamoto’s model maintains Bitcoin’s established security level while enabling faster, more flexible transactions.
4️⃣ New Programming Language: Clarity, designed specifically for Bitcoin, allows secure programming for DeFi.
5️⃣ Proof of Transfer (PoX): PoX links Stacks and Bitcoin economically, it let users secure the network by locking STX and earn BTC rewards.
Published at
2024-11-01 23:24:24Event JSON
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