YEREVAN (CoinChapter.com) — Stacks smart contracts hit a new all-time high, with over 1,400 contracts deployed in a month. This surge comes just before the full activation of the Nakamoto upgrade, which will enhance Bitcoin’s decentralized finance (DeFi) capabilities.
The recent increase in smart contract deployments shows a 30% growth within just one month. As a result, on September 7, Stacks highlighted this milestone in an official post, further noting the impressive rise in adoption on their Bitcoin layer-2 solution.
Overall, this surge in Stacks smart contracts is a clear indication of growing interest in Bitcoin’s role in decentralized finance. Consequently, developers are increasingly using Stacks to create decentralized applications (dApps) on Bitcoin, while taking advantage of the platform’s features ahead of the Nakamoto upgrade.
Stacks Nakamoto Upgrade Boosts Bitcoin DeFi and Scalability
The Nakamoto upgrade initially started rolling out at Bitcoin block 840,360 on August 28. Moreover, it is expected to bring significant improvements to Bitcoin-based decentralized finance. Specifically, this upgrade will optimize scalability, enhance performance, and improve security for Stacks smart contracts.
With the Nakamoto upgrade, Stacks transitions into a Bitcoin-native model, relying more on Bitcoin’s infrastructure to power its decentralized projects. This shift is expected to enhance performance, reduce block time, and provide faster transaction finality. Mithil Thakore, CEO of Velar Bitcoin liquidity protocol, stated that the Nakamoto upgrade would reduce Stacks’ block time to five seconds, while ensuring 100% Bitcoin finality.
The Nakamoto upgrade will also boost Bitcoin’s layer-2 scalability. Diego Mey, co-founder of Bitflow Finance, highlighted that this upgrade marks a “huge leap” for Bitcoin DeFi. It positions Bitcoin as a stronger contender in the decentralized finance space.
sBTC Token Nears Release as Stacks’ Upgrade Reaches Final Stages
A key feature of the Nakamoto upgrade is the launch of the sBTC token. This Bitcoin-backed token will roll out four weeks after the full activation. According to Stacks, the sBTC token is on schedule for its release.
The Nakamoto upgrade is entering its final stages. Two full “Stacking cycles” must be confirmed before the upgrade is fully implemented. This final step ensures the network remains stable.
The post New Milestone for Bitcoin DeFi: Over 1,400 Smart Contracts Deployed on Stacks – Even Before Major Upgrade appeared first on CoinChapter.
