Stacks Nakamoto and Stacks Ecosystem Gems

Discover the game-changing Stacks Nakamoto Upgrade! Elevating performance, security, and Bitcoin integration. Join the revolution now!

In a previous post Stacks Ecosystem Exploring Exciting Airdrops we looked at some of the projects on Stacks, however we only touched the top of the iceberg. The Stacks ecosystem is brimming with innovation and in today’s post we are going to give you a quick overview of the Nakamoto upgrade on Stacks and share with you some more projects that are making waves within the Stacks Ecosystem.

Stacks Nakamoto Upgrade

The Stacks Nakamoto Upgrade marks a pivotal moment for the Stacks blockchain, ushering in a wave of enhancements poised to revolutionize performance and Bitcoin integration. Here's a breakdown of the key implications:

Swift and Secure Transactions: With the Nakamoto upgrade, transaction speeds receive a remarkable boost while maintaining top-notch security protocols.

Expect lightning-fast block times, slashing transaction confirmation durations from minutes to mere seconds.

This swift processing opens doors for decentralized applications (dApps), particularly in the dynamic landscape of DeFi.

Bitcoin-grade Finality: Once a transaction secures confirmation on the Stacks blockchain, it inherits a level of security akin to Bitcoin transactions.

Stacks miners periodically anchor the Stacks blockchain state to the Bitcoin blockchain, ensuring transactions are irrevocable unless Bitcoin itself undergoes a reversal.

Resistance Against Bitcoin Reorganizations: The upgrade fortifies the Stacks blockchain against Bitcoin reorganizations, ensuring transaction integrity.

Valid Stacks transactions remain unaffected even during Bitcoin reorgs, requiring re-mining only for transactions tied to lost Bitcoin state.

Performance Amplification and Streamlining: The Nakamoto upgrade sets the stage for ongoing performance enhancements and throughput optimizations.

By eliminating constraints on Bitcoin block times and mitigating specific Bitcoin behaviours, the upgrade ensures 100% Bitcoin finality for transactions, paving the way for seamless operations.

The Nakamoto Vote

SIP (Stacks Improvement Proposal) Process:The Nakamoto upgrade involves community reviews and, ultimately, an open vote for its adoption.

Stacks governance is decentralized, ensuring that no single party can make breaking changes to the Stacks network without a vote.

To pass the upgrade, a strong majority of the network must vote ‘Yes on Nakamoto.’ Specifically, 80% or more of votes cast from at least 80 million stacked STX must represent a ‘Yes’ vote.

In essence, the Nakamoto upgrade propels the Stacks blockchain to new heights, bolstering performance, security, and seamless integration with Bitcoin. This transformative leap makes decentralized applications a compelling alternative to their centralized counterparts.

So now its your turn – Make sure you cast your vote and if you need a guidance on voting, the Stacks Foundation has produced a step by step guide.

Stacks Ecosystem Gems

NoCodeClarity

NoCodeClarity are building a product where you can design a frontend, build workflows for a backend, & launch a Clarity smart contract without writing code. In this age of AI, no code solutions will become bigger and bigger. We are already seeing Web2 adoption of no code solutions make app building so much more accessible. And we need this for web3. This will bring adoption.

No Code Clarity is going live with its beta in April and if you buy a NoCodeClarity NFT pass, you will get lifetime access to the platform. You can buy the pass here NoCodeClarity Pass - Marketplace | Gamma

Stacks Laßz

Stacks Laßz are building a Stacks community for developers & builders to Learn, collaborate & innovate! They have just finished a cohort of their course Bitcoin Primer and although I didn’t complete the course, I did go over the content, and it was amazing. This course is totally free and well worth your investment of time. Soon they will be running a Clarity Bootcamp for those that have completed the Primer. If you want to learn Clarity and build on Stacks, then I would urge you to join this community

Arkadiko Finance

Arkadiko Finance have a lending protocol. You can use Bitcoin and Stacks as collateral and mint USDA, which they can be used in other Defi protocols or swapped for other tokens. When you use STX as collateral, the protocol uses this STX in staking and the staking reward are used to repay the loan, making it self-repaying.

Just be careful when taking loans, you might want to take this quick crypto bite, Introduction to leverage for wealth growth , so you understand leverage a bit better before you delve to much in this with a lot of capital. This is a quick 20 min course on financial literacy skills that everyone using Defi should take.

Anyway back to Arkadiko. A strategy I have used here is to use STX as collateral, use the USDA to buy more STX, add that back as more collateral, and rinse and repeat. I keep my collateral level at around 200% giving me plenty of room for negative price action. But you really need to keep an eye on this as it is risky. Collateral is not liquid, so you should always keep spare liquidity in case you need to pay the loan down. Once you add the collateral it is locked up for the Stacking period.

Providing liquidity on Arkidiko also gives great returns (most currently above 50%) and the token in DIKO, a governance token that has done rather well price wise in the last 12 months.

Leather Wallet

The Leather Wallet is a browser-based wallet is compatible with Stacks, Bitcoin and EVM and is a must have if you are using Bitcoin, Stacks or BRC20 tokens. They currently do not have a token, always a possibility in the future. As with all wallets, make sure you write down your phrase and don’t share it, keep it safe, copies in multiple places. And use a strong secure password.

Exploring the Fun Side: Meme Coins on Stacks

Sure, you can’t talk about a crypto ecosystem and not mention meme coins.

Welsh Corgi Coin Welshcorgicoin (welshtoken.com) has the cutest dog, some NFTs, a growing community and a growing price.

Leo the Cat Leopold The Cat (leothecat.io) with a growing community and a growing price, its great to see this meme project launch a really great and valuable tool for the Stack community. Dashboard - STX Tools is a dashboard and portfolio tracker for stacks, you should try it out.

🚀 Conclusion

The Stacks Nakamoto Upgrade signifies a monumental leap forward for blockchain technology, ushering in an era of enhanced performance, security, and seamless integration with Bitcoin. As the Stacks community continues to flourish, it's imperative for individuals to remain informed, empowered, and actively involved in shaping the future of decentralized finance.

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Together, let's seize the opportunities presented by blockchain technology and decentralized finance. Join our dynamic community today and become an integral part of the revolution. The future of finance awaits—let's shape it together! 🌐💡