The post Stacks Unveils Nakamoto Upgrade: A Game-Changer for Bitcoin Transaction Speed and Efficiency appeared on BitcoinEthereumNews.com.

The Bitcoin layer-2 network Stacks has finally initiated the first phase of its highly anticipated Nakamoto upgrade, despite several delays. This significant upgrade aims to decouple block production from Bitcoin’s blockchain, facilitating a more rapid and efficient transaction process. Muneeb Ali, co-founder of Stacks, expressed optimism about the future potential of the upgrade, highlighting the eagerness of developers awaiting the rollout. This article delves into the recent Nakamoto upgrade of the Stacks network, its implications for transaction processing speeds, and the ongoing developments within the Stacks ecosystem. Nakamoto Upgrade Marks a Turning Point for Stacks This week, the Bitcoin layer-2 network Stacks commenced the initial phase of its long-awaited Nakamoto upgrade. This enhancement is critical as it seeks to separate Stacks’ block production from the Bitcoin blockchain, which is predicted to result in a remarkable increase in efficiency and speed. Initially introduced in April, the upgrade faced an eight-week delay, allowing developers to prioritize security and conduct thorough code audits. However, the full rollout began last Wednesday, with expectations of drastically reducing transaction confirmation times from Bitcoin’s ten-minute average to mere seconds once fully operational. Key Features and Impacts of the Upgrade The Nakamoto upgrade not only aims to enhance transaction speed but also adopts a mock-signing method utilizing Stacks’ proof-of-transfer (POX) consensus mechanism. This process allows miners to earn STX rewards by burning BTC, thus incentivizing a more robust participation in the network. As Muneeb Ali articulated during an interview, “There’s a great process; we will have two weeks to upgrade their software.” This phased approach showcases Stacks’ commitment to ensuring a seamless transition. The anticipation surrounding this upgrade is palpable, particularly among developers who have been idling as they awaited its launch. Regulatory Scrutiny and Boost in Credibility In addition to technological advancements, the Stacks Foundation has navigated…

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Filed under: News - @ September 1, 2024 4:12 pm