Author: Rainy Sleep
I've mentioned BTC ecology before, where I specifically mentioned Stacks and the Satoshi upgrade within it. Today, I'll continue to chat with you all about the Stacks project.
Let's quickly go over the basic information about Stacks. (Stacks is an old project, so just take a quick look at these details)
From my personal perspective, $STX will never be absent from the market's hype around the BTC ecology, but the previous hype was more like "castles in the air" without a solid foundation. After the Satoshi upgrade, Stacks will provide the market with higher expectations through higher performance and sBTC.
So, what exactly did the Satoshi upgrade upgrade?
1. Performance
Previously, Stacks' block confirmation time followed that of Bitcoin (PoX consensus mechanism), with a block time of around 10 minutes. This means that as a Bitcoin Layer 2, Stacks was not qualified, as it inherited Bitcoin's security but did not significantly improve performance on the Layer 1 basis.
After the Satoshi upgrade, according to Grayscale's calculations, Stacks' block time and Gas fees have been reduced from 6 min/6.65 u to 5 s/0.25 u.
Higher performance means better user experience, and better experience means greater appeal to users and developers. It will become the foundation for the development of the Stacks ecosystem. For example, previously, meme trading on Stacks was quite tiring, but now it will be much easier. We can also see more possibilities for Stacks DeFi, such as a wider range of DeFi products and more DeFi participants.
Additionally, Stacks is optimizing the Satoshi upgrade to achieve lower latency and higher bandwidth. Refer to this article
In terms of thinking, Stacks is still committed to solving the previous problems of Stacks to achieve higher performance. Higher performance is the only way to compete with other high-performance Layer 1/Layer 2 projects.
2. $sBTC
Regarding DeFi, after the Satoshi upgrade, the sBTC upgrade will occur in early December (at the earliest), and more upgrades will be carried out in January and beyond next year. The Satoshi upgrade is the foundation for the sBTC upgrade, and the early December upgrade will optimize the Stacks token issuance mechanism and launch sBTC.
Btw, I hope it doesn't keep getting delayed like the Satoshi upgrade.
After the upgrade, sBTC may become one of the important assets in the crypto market (the previous antics of $WBTC have also helped the development of cbBTC and sBTC, and Coinbase has also delisted $WBTC).
For sBTC, the most noteworthy aspect is its adoption metrics. We can also see that Stacks is making efforts to promote the adoption of sBTC, such as collaborating with Bitcoin ATM operator Coinflip to integrate Stacks and sBTC, and introducing sBTC to Aptos, Solana, and others.
For sBTC, the growth model of cbBTC is very worth referencing. For example, supporting Moonwell, using the $WELL token (and pumping $WELL) as a reward to drive the adoption of cbBTC. (And Stacks has a lot of money, they recently raised $20 million in new funding, they can definitely use their white money to incentivize the adoption of sBTC, such as incentivizing the adoption of sBTC on the lending protocols of Stacks, Aptos, and Solana)
Overall, the overall expectations for Stacks are still good: the Satoshi upgrade has brought higher performance, and introduced sBTC as the core asset of the Stacks ecosystem, and Stacks' strong strength has also increased the adoption expectations of sBTC.
Finally, a slight digression. Recently, the old public chains have all been doing upgrades, such as Fantom Sonic, Avalanche 9000, and their core purpose is to drive the adoption of the public chain. It can be foreseen that the next few months will be quite exciting, and the public chain war is about to begin again~
