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Stacks Moves Closer to Launching sBTC with Testnet Success
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This is a big step before sBTC goes live on the mainnet, which is the real deal. Think of it like a rehearsal before the big performance.
sBTC is a new kind of Bitcoin (BTC) that will run on the Stacks blockchain.
Stacks Devs Test sBTC for DeFi, Preparing for Mainnet
By doing this, it brings the power of Bitcoin to the Stacks network. This will make it easier for people to use BTC in decentralized finance (DeFi) apps. The big news here is that sBTC has now passed an important test. This means that it works in a test environment before it’s used for real transactions.
During the test, core developers showcased a “builder preview” to the Stacks DeFi Working Group. This preview included a successful sBTC deposit on the testnet with 15 Signers, which are trusted validators in the network. It was a key demonstration that showed the sBTC system works smoothly and is ready for the next steps.
1/ Hey Stackers, exciting news
Today, core devs successfully deployed sBTC on primary testnet. This is a key milestone before sBTC goes live on mainnet.
We are one step closer to decentralized, programmable Bitcoin with @Stacks.
More info below
(1/3) pic.twitter.com/oOIBCjcEH7
— Stacks Foundation
(@StacksOrg) November 22, 2024
The core devs are excited about the future of sBTC and are focused on growing the number of builders and signers in the coming weeks. They are eager to get more people involved to help make the system even stronger before it is launched on the mainnet.
More About Stacks
Stacks has announced its new initiative, “₿est & ₿rightest,” which will showcase top-tier partnerships and collaborations with Bitcoin-focused companies across different sectors. These companies, leaders in their respective fields such as mining, wallets, exchanges, and more, will play a key role in strengthening the Bitcoin ecosystem.
3/ Before we start revealing Best & Brightest names, let’s take a moment to appreciate top sBTC players in the ecosystem:
1. Leading PoS Validator: Kiln
2. Leading custody solution: Bitgo
3. Leading institutional bridge: Axelar
4. Leading BTC Mining Pool: LuxorTo name a few… pic.twitter.com/MEqdt1jWTm
— stacks.btc (@Stacks) November 14, 2024
Before revealing the full list of “₿est & ₿rightest” partners, Stacks has highlighted some of the standout players in the sBTC ecosystem: Kiln, the leading Proof of Stake (PoS) validator; Bitgo, the top custody solution; Axelar, the leading institutional bridge; and Luxor, the leading BTC mining pool.
Disclaimer
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November 25, 2024 at 06:29AM
November 25, 2024 at 06:30AM
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