Summary
TLDR: Stacks has initiated the rollout of its Nakamoto upgrade to enhance transaction throughput and unlock Bitcoin finality for layer-2 transactions. The upgrade aims to enable faster block processing and ensure settlements are finalized on layer-1, potentially reviving interest in Bitcoin. The rollout will continue over the next month, improving block times to around five seconds, supporting DeFi applications. Other innovations like ordinals and BRC-20s are also gaining interest, leading to a predicted “layer-2 summer” of Bitcoin developer ecosystem growth and competition.
Key Points
1. Stacks initiated the rollout of its Nakamoto upgrade to enhance transaction throughput and unlock Bitcoin finality for layer-2 transactions.
2. The Nakamoto upgrade aims to enable faster block processing, ensuring all settlements are finalized on layer-1, making Bitcoin secure and programmable like Ethereum and Solana Virtual Machines.
3. The Nakamoto upgrade rollout will continue over the next month, improving block times from 10-30 minutes to around five seconds, supporting the growth of DeFi applications on Bitcoin layer-2s.