Bitcoin L2 Stacks implements the Nakamoto update for improved network functionality

Bitcoin’s leading Layer 2 network, Stacks, has begun rolling out its Nakamoto update, which will improve functionality and integration with its base blockchain.

According to a press release shared with CryptoPotato, Stacks began Nakamoto’s activation sequence on August 28. The process has four key steps, including final code delivery, cycle 92; the upgrade period for network operators; Cycle 93, which involves core developers selecting the final hard fork; and the Hard Fork Block, which would see the full implementation of Nakamoto’s rules.

Stacks begins the Nakamoto update

The Stacks Nakamoto update is named after Satoshi Nakamoto, the pseudonymous creator of the Bitcoin network. It will introduce several improvements to the Stacks protocol, including increased transaction speed, stronger transaction finality guarantees, reduced Bitcoin Miner extractable value opportunities, and improved network resilience against blockchain reorganizations .

Muneeb Ali, co-creator of Stacks, said: “Bitcoin is the most exciting place to build apps right now. Bitcoin L2s are becoming the future. Stacks Nakamoto’s update will be a catalyst for developers of other chains make the jump to Bitcoin and their L2s, with Stacks leading the way.Think of this activation as building Solana-like rails that will help decongest Bitcoin L1 while allowing the Bitcoin economy to heat up in the L2”.

Stacks said the update would solidify its position as Bitcoin’s leading Layer 2 solution by enabling more advanced smart contracts and decentralized applications while remaining connected to the security of the larger blockchain.

STX down 14%

It’s worth mentioning that Nakamoto’s update was approved by the Stacks community in mid-March and went live on the protocol’s testnet later that month. The Stacks Foundation intends to celebrate Nakamoto’s activation sequence progress with daily surprises and giveaways over the next 21 days.

Meanwhile, Stacks native token STX has not reacted positively to the update news. According to data from CoinMarketCap, the token is in a downward spiral, falling 14% in the last 36 hours. At the time of writing, it was worth $1.6, down from $1.8 earlier this week.

Layer 2 networks like Stacks improve the scalability of Bitcoin and execute faster and more cost-effective transactions, thereby increasing the utility and programmability of the network. As Bitcoin evolves from digital gold to an economic ecosystem, Stacks believes new use cases and significant capital will be unlocked, creating a new wave of BTC-based applications.

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