Stacks initiates the Nakamoto Upgrade

Stacks takes another step toward activating the Bitcoin economy.

Hi Bitcoin Builders,

The Bitcoin Halving functioned as intended, Bitcoin Layers continue to progress, and the Runes Protocol is live. Let’s dive into another busy week for Bitcoin Builders.

Stacks initiated the Nakamoto Upgrade on Bitcoin block 840360.

Stacks brings smart contract functionality to Bitcoin, enabling more applications to be built on Bitcoin. The Nakamoto Upgrade will improve the user experience of these applications with fast blocks (10 minutes to 5 seconds) and Bitcoin layer-1 finality.

Bitcoin Layers

• Bitcoin Layers, a Bitcoin risk analysis platform, releases its risk framework of the Liquid Network.

• Stacks hosted the Building on Bitcoin - Halving Celebration & Nakamoto Release virtual event.

  • Watch the 5-hour recording with speakers including Illia Polosukhin (Co-Founder Near Protocol), Ryan Selkis (Co-Founder & CEO Messari), Alexei Zamyatin (Co-Founder BOB), Natalie Brunell (Podcast Host @ Coin Stories), Muneeb Ali (CEO Trust Machines & Co-Creator Stacks), and many more.

• Babylon shares its staking protocol summary.

  • "Babylon’s trustless and self-custodial Bitcoin staking protocol marks the third major use case of Bitcoin beyond the storage of value and simple payment.”

  • Bitget Wallet now supports Babylon testnet.

• Bitcoin Builders raise more VC dollars: Atomiq DeFi raises $3m for the first DeFi project on the Mint Layer.

• Builders are innovating on rollup strategies on Bitcoin — BitcoinOS introduces BitSnark.

Meta Protocols and Layer 1

• We’re a week into the launch of Runes:

  • Runes make up 68% of all Bitcoin transactions since launch via Coin Telegraph.

  • Runes generate over $135 million in fees in first week on Bitcoin network via The Block.

• The Bitcoin halving functioned as intended, highlighting Bitcoin’s predictable nature.

  • Bitcoin Mining Pool ViaBTC Sells 'Epic' First Post-Halving Sat for $2.13M via Coindesk.

Other

• It’s been a bad week for Bitcoin privacy.

  • The DOJ arrested Keonne Rodriguez and William Lonergan Hill, executives and founders of Samourai Wallet.

  • Phoenix Wallet announces it will be removed from US app stores.