[Stacks co-founder launches new BTC re-mortgage protocol plan]
Muneeb Ali, co-founder of Bitcoin Layer 2 project Stacks, recently took to social media platform X to share an exciting update about the future of work. He introduced several key developments leading to the anticipated Nakamoto Part 2 upgrade and highlighted innovations that will significantly enhance the capabilities of Stacks and the Bitcoin ecosystem.
Ali highlighted the new Bitcoin restaking protocol designed to enable Bitcoin gains on Stacks while maintaining liquidity. “This allows users to deploy Bitcoin in Layer 2 DeFi but still maintain Bitcoin liquidity in their wallets for other uses,” he said. This development will provide Stacks users with greater flexibility and Bitcoin The utility of currency holdings.
Users will be able to stake Bitcoin and use their holdings through liquid wallets. Another important development is the integration of Stacks’ upcoming native token $sBTC with key partners. In addition, Ali mentioned the strong institutional support for $sBTC, saying: “Part of the support has been made public, and those participating in the open working group can learn more. Institutional support for $sBTC has been growing.”
Although the Nakamoto Part 2 upgrade faces delays, Ali is optimistic about the benefits of an extended development period. “Delaying Nakamoto Part 2 by 8 weeks for additional development is not ideal, but it means that (a) sBTC can quickly follow Nakamoto, and (b) some further WASM work can mature,” he said.
This additional time will ensure the stability and robustness of the new features. Ali also highlighted improvements to testing and upgrade infrastructure, which will lead to faster, higher-quality future updates. “There are many improvements to the testing and upgrade infrastructure, which means faster time to market and higher quality future upgrades after Nakamoto (like $sBTC Comprehensive and WASM, etc.),” he noted.
Security remains a top priority, with new startups and projects focusing on DeFi security and operational security. Ali stressed the importance of these safety measures, especially after recent events.
Despite the challenges, Ali is confident in the resilience and growth of the Stacks ecosystem. He said: "Rome was not built in a day.The Stacks ecosystem has always been committed to doing hard things, doing the right things, and advancing the expansion of the Bitcoin economy. This ecosystem continues to lead the development of Bitcoin Layer 2. "
In April, Stacks developer Mitchell Cuevas announced that the launch of the Nakamoto upgrade would be extended to allow for the development of a more advanced Signer resiliency/recovery system. Core developers stressed the importance of ensuring network stability and security, changing the Nakamoto launch date to August 28, 2024. The new timeline is designed to provide better miner resiliency, improved Signer response handling, and enhanced network stability. The Stacks community looks forward to a more secure and powerful ecosystem that continues to be built on Bitcoin.
