8 months ago
43 ARTICLE AD
Bitcoin layer-2 (L2) infrastructure Stacks has announced a significant expansion with the addition of six new organizations committed to supporting its infrastructure as Signers. These entities include Blockdaemon, NEAR Foundation, DeSpread, Luxor, Chorus One, Kiln, Restake, and Alum Labs. This move strengthens Stacks’ position as a leading L2 solution for Bitcoin, especially as the Nakamoto upgrade looms on the horizon.
The new Signers join a group that already includes Copper, Figment, Luganodes, Xverse, Ryder, community Stacking pools, and individual Stackers. Collectively, these participants manage billions of dollars in assets under management (AUM) and are among the most reputable staking providers of Stacks’ network. Their role in the Stacks network will be to validate new blocks and oversee deposit and withdrawal transactions for BTC/sBTC, enhancing the network’s security and decentralization.
The integration of these new Signers is a testament to the growing support for Bitcoin’s ecosystem and the scaling solutions it offers. With their industry-leading infrastructure and communities, these organizations provide a solid foundation for developers looking to tap into the Bitcoin economy through L2 solutions like Stacks.
Importantly, Stacks operates as an open network, not a federated one. The Signer set includes thousands of Stackers who lock over $1 billion in STX to participate in the Stacks consensus. Post-Nakamoto upgrade, these Stackers will also validate Stacks blocks, earning a BTC yield for their contributions to network security.
The addition of ‘high-reputation’ Signers ensures that the network benefits from parties with a strong interest in maintaining honesty and transparency. Their infrastructure and tools are crucial in identifying and mitigating any potential threats, thereby upholding a high level of decentralization in line with Bitcoin’s core values.
“These Signers add yet another layer of decentralization and bring industry-leading infrastructure to the leading Bitcoin L2 as the ecosystem seeks to unlock the Bitcoin economy and bring Bitcoin to billions of users,” says Andre Serrano, sBTC Resident at The Stacks Foundation. “Together, we are poised to unlock exciting new use cases for Bitcoin.”
As the Nakamoto upgrade nears, the Stacks network is poised for further growth and innovation. The addition of these new Signers marks a pivotal moment in enhancing network security, fostering greater decentralization, and cementing Stacks as a preeminent L2 solution that prioritizes the needs of Bitcoin builders.
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
Crypto Briefing may augment articles with AI-generated content created by HAL, our proprietary AI platform. We use AI as a tool to deliver fast, valuable and actionable information without losing the insight - and oversight - of experienced crypto natives. All AI augmented content is carefully reviewed, including for factural accuracy, by our editors and writers, and always draws from multiple primary and secondary sources when available to create our stories and articles.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
