Bittime - The crypto world is buzzing again with Stacks (STX), a blockchain integrated with Bitcoin. STX is preparing to launch a major upgrade called "Nakamoto" on April 16, close to the expected Bitcoin halving event on April 20.
This upgrade aims to turn Stacks into the second layer (Layer 2) of Bitcoin. Apart from upgrades, STX also experienced significant improvements. The total value of crypto assets locked on the Stacks network has skyrocketed, and the price of the STX token itself skyrocketed nearly 35% over the weekend.
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Get to know Nakamoto Upgrades in Stacks
Stacks is a Layer 1 blockchain that works together with the Bitcoin blockchain and uses a Proof-of-Transfer (PoX) consensus mechanism. Currently, Stacks is waiting for the next important upgrade, namely the Nakamoto Upgrade.
This upgrade aims to make the Stacks blockchain faster and more secure. Interestingly, 99.98% of voters in the Stacks network approved this upgrade.
Also read: Stacks (STX) Price Prediction According to Crypto Academy
Through its official blog, Stacks explained that the Nakamoto upgrade will make the Stacks blockchain not only process block transactions in Bitcoin. However, Stacks will increase resistance to Bitcoin reorganization (reorg) by up to 100%.
This means the STX blockchain will be faster with short block times. Currently, Stacks block times are between 10 to 30 minutes.
Stacks Foundation estimates the Nakamoto Upgrade will go live on April 16. Higher transaction speeds and guaranteed finality of Bitcoin transactions are expected to attract more market participants to Stacks.
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STX Skyrockets!
The total value of crypto value locked (TVL) on Stacks has surged to $156.69 million, according to data from DefiLlama. This increase in TVL indicates the increasing relevance of the Stacks project among traders.
Not only that, the price of STX has also increased! STX price is up nearly 35% from its low of $2.07 on Saturday. At the time this article was written, the price of STX was around $2.73.
Also read: Stacks (STX) Price Suddenly Increases, This is the Cause!
This latest development from Stacks is a positive signal for the future of this blockchain integrated with Bitcoin. Will Stacks be the Layer 2 of choice for Bitcoin? We will see later!
What is Stacks (STX)?
Stacks (STX) is an open-source blockchain network that brings decentralized applications (dApps) and smart contracts to Bitcoin (BTC). Despite being separate, Stacks and Bitcoin can work together effectively.
The STX token is the native cryptocurrency of the Stacks network, and was listed as the first qualified token offering by the United States Securities and Exchange Commission (SEC).
STX is used on Stacks to pay transaction fees and deploy smart contracts. Additionally, STX can be “stacked” and generate Bitcoin rewards.
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With its unique functionality and integration with Bitcoin, Stacks is becoming an interesting player in the blockchain world. The upcoming Nakamoto upgrade and the STX price spike are putting Stacks in the spotlight even more.
How to Buy Stacks (STX) on Bittime
You can buy and sell Stacks (STX) in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Stacks (STX) is available on Bittime with the market pair STX/IDR. To be able to buy STX IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Stacks (STX) on Bittime.
Monitor the price chart movements of Stacks (STX), Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also read:
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Stacks Approaching Record High Crypto Prices, What Are Its Advantages Over Bitcoin?
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Buy BTC (Bitcoin): Innovation and Utility Increases with Bifrost and Stacks Foundation Collaboration
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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