Demex Daily #228: Stacks Speeds Up Bitcoin with Nakamoto Upgrade and Prepares for sBTC

What’s Interesting Today:

The Bitcoin layer-2 network, Stacks, is rolling out its Nakamoto upgrade, which will increase transaction speed by 120 times, reducing confirmation times from 10 minutes to mere seconds. This upgrade decouples Stacks' block production from Bitcoin and fully implements Nakamoto consensus rules by the end of Stacking cycle 92. The upgrade also paves the way for the upcoming sBTC, a programmable Bitcoin asset. Despite these advancements, the STX token price has dropped 11%. The Stacks Foundation will focus on sBTC adoption, blockchain interoperability, and research into new Bitcoin layer-2 technologies like BitVM.

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Fordefi has launched the first institutional-grade multiparty computation (MPC) wallet for the Sui blockchain, enabling secure self-custody of private keys and seamless access to decentralized applications (dApps). This collaboration provides institutional users, such as asset managers and trading firms, with a secure platform to manage digital assets across multiple blockchains, leveraging Sui's scalable and secure infrastructure. The integration aims to enhance the Sui ecosystem and drive further adoption by offering a reliable wallet-as-a-service solution tailored for institutional use.

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