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Stacks Registers Unseen Smart Contract Deployment Days Away From Its Nakamoto Upgrade

Source Livebitcoinnews

Bitcoin layer-2 Stacks witnessed 1,400 smart contract deployments month over month, as its soon-to-be-effected Nakamoto upgrade will reduce its transaction confirmation time to seconds.

Popular Bitcoin layer-2 network Stacks has witnessed record-high smart contract deployment as it approaches its Nakamoto hard fork. Over 1,400 smart contracts were deployed on the network just days before the upgrade, showcasing the interest the Bitcoin community has for what’s to come on the network.

“A new high and 30% increase MoM for smart contract deployments on the leading Bitcoin L2, Stacks,” the layer-2’s official account posted on X. “Developers are the foundation of a flourishing Bitcoin ecosystem, making Bitcoin a productive asset.”

Source: Stacks on X

While Bitcoin does not go beyond offering transaction capabilities, Stacks allows developers to build dApps (decentralized applications), including DeFi protocols, leveraging the security of the first-ever blockchain. However, Stacks was limited by low throughput, rendering high execution dApp deployment unfeasible. Until the upgrade kicks in, Stacks will continue to settle transactions anywhere between 10 to 30 minutes, which is on par with the Bitcoin network. However, once Nakamoto kicks in, that story will change, with Stacks expected to exhibit 100X faster transaction confirmations, taking settlement time to mere seconds.

The Bitcoin Community Is Excited for the Upgrade

The excitement engendered from the upcoming upgrade is translating into developers launching smart contracts on the soon-to-be efficient network to leverage the best of BTCFi. The co-founder of the Bitcoin-based DEX Bitflow, Diego May, felt that same excitement, stating, “Nakamoto upgrade is ’round the corner—feeling pumped! This is a huge leap for Bitcoin DeFi, Layer 2 scalability and smart contracts.” He iterated how the update would benefit builders by “opening new doors for developers to innovate.”

“5-sec block times, 100% Bitcoin finality and SBTC are game-changing,” CEO and co-founder of the Bitcoin-based DeFi liquidity protocol, Mithil Thakore, mentioned. “As a builder, I’m thrilled about the new possibilities this unlocks.” sBTC is Stacks’ Bitcoin wrapper token set to roll out four weeks after the Nakamoto upgrade.

While the upgrade is just days away, Stacks developers have yet to choose a precise date.

The post Stacks Registers Unseen Smart Contract Deployment Days Away From Its Nakamoto Upgrade appeared first on Live Bitcoin News.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

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