Stacks, which was previously known as Blockstack has made a very promising announcement for the Bitcoin (BTC) users. Stacks is popular for being an open-source network that is known for helping developers build and launch applications. The developed and launched applications run on the decentralized network.
The firm had expressed its aim of introducing decentralized finance and contracts to the Bitcoin (BTC) network. It may seem one of the things that every crypto-firm has been following in order to gain public attention. However, Stacks has all the intentions of staying true to its goal and ambition.
It was on Thursday (January 14, 2021), when Stacks made another announcement for the same community. The platform announced the launch of Stacks 2.0 for the entire Bitcoin (BTC), decentralized finance, and smart contracts community. The Stacks 2.0 system will provide users with a bridging toolkit that will give developers the opportunity to build on Bitcoin (BTC).
The firm has announced that Stacks 2.0 will exist as a layer-one blockchain network that will provide native bridging to Bitcoin (BTC). Stacks 2.0 team has informed that the toolkit they have introduced will function on the Clarity smart contract language. The clarity smart contract language acts as a joint open-source protocol that is supported by Algorand and Blockstack.
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The company has announced that the launch of the Stacks 2.0 platform holds very high importance and significance for the firm. In order to provide clarity and visibility, the firm provided reasons for the introduction of the Stacks 2.0 network.
It revealed that the new protocol helps Bitcoin (BTC) in expanding its scripting language. The protocol allows developers in building smart contracts on the blockchain. Additionally, the protocol also allows the developers to launch other innovative tools and services they can introduce on the Bitcoin (BTC) blockchain.
Stacks has revealed that the launch of the Stacks 2.0 toolkit will prove to be extremely essential for Bitcoin (BTC). With the help of the toolkit, the Bitcoin (BTC) blockchain will be able to offer more use cases for the asset. The protocol will also help Bitcoin (BTC) in potentially diluting the value proposition of chains that are aiming to compete with the platform.
By doing this, Bitcoin (BTC) will not only be securing its position as the world’s largest cryptocurrency in the present time. But it will also manage to secure its position and value in the future as well from being the dominant cryptocurrency and blockchain.
The co-founder of Stacks, Muneeb Ali also talked about the launch of Stacks 2.0 and what it will have to offer the crypto-community.
He stated that providing optimization to the Bitcoin (BTC) platform, will not be rendering other smart contract platforms out of commission but will provide users more options in choosing between smart contracts.
