Demex Daily #138: Stacks Rolls Out 'Nakamoto' Upgrade to Enhance Network Efficiency

What’s Interesting Today:

Celo has chosen Optimism's OP Stack for its transition to a layer-2 network on Ethereum after a competitive review process among leading layer-2 technologies. The proposal by Celo's primary developer, cLabs, will be discussed in community calls before going to a vote by CELO token holders. The decision, aimed at aligning Celo more closely with the Ethereum ecosystem, follows months of due diligence by the cLabs team, who revisited their initial preference for OP Stack after exploring alternatives like Arbitrum Orbit and zkSync’s ZK Stack. Optimism's OP Stack has gained traction in the blockchain community, recently being selected by other major projects like Coinbase and Worldcoin for their layer-2 developments.

Trade OPTIMISM OP-PERP on Demex!

Stacks has initiated the rollout of its largest update, named 'Nakamoto', which aims to resolve congestion issues by decoupling its block production from Bitcoin’s. The two-step rollout began with the process of new block "signers" validating transactions in a "practice" phase until the full implementation in May. The upgrade modifies Stacks' proof-of-transfer consensus algorithm and is significant for users and stakeholders, with about $1.3 billion in STX tokens currently staked. This update has led to a 16% increase in the STX token price, moving it into the top 25 cryptocurrencies by market capitalization.

Trade STACKS STX-PERP on Demex!