Stacks, the smart contract layer for the Bitcoin network, has hit a new milestone with over 1,400 smart contracts deployed in a single month. This achievement comes just before the highly anticipated Nakamoto upgrade, which promises to revolutionize Bitcoin’s decentralized finance (DeFi) and scalability.
In a post shared by Stacks on September 7, the team announced this record high, marking a 30% month-over-month (MoM) increase in smart contract deployments. Stacks is known for enabling smart contracts on Bitcoin, and this surge reflects the growing interest in Bitcoin-based DeFi, also referred to as BTCFi.
The Nakamoto upgrade is expected to be a game-changer for Bitcoin DeFi and layer-2 scalability solutions. Starting its rollout on August 28 at Bitcoin block 840,360, the upgrade aims to enhance the performance and security of Stacks projects by relying more on Bitcoin’s infrastructure. According to Diego Mey, co-founder of Bitflow Finance, this marks a “huge leap” for the Bitcoin ecosystem.
A key feature of the upgrade is a shift toward a more “Bitcoin-native” model, which will improve the efficiency of Stacks by integrating more deeply with Bitcoin’s architecture. Additionally, Mithil Thakore, co-founder and CEO of Velar, highlighted that the Nakamoto upgrade will reduce Stacks’ block time to just five seconds and ensure 100% Bitcoin finality, further strengthening its security.
The Nakamoto upgrade is nearing its final activation, though the exact date hasn’t been confirmed. Developers are closely monitoring the network over two full “Stacking cycles” to ensure stability before fully rolling it out. Once finalized, Stacks will launch its Bitcoin-backed token, sBTC, approximately four weeks later. The BTC token is expected to enhance the capabilities of Bitcoin-based DeFi further.
Named after Bitcoin’s mysterious creator, Satoshi Nakamoto, the upgrade represents a significant step forward in the evolution of Bitcoin DeFi. With the activation just days away, the Stacks ecosystem is poised to offer new opportunities for developers and users seeking to leverage Bitcoin’s robust infrastructure for decentralized finance applications.
