EddieJayonCrypto
17 Sep 24
The Stacks Bitcoin Layer-2 protocol is integrating with the Aptos Network, enabling Bitcoin to be used across decentralized applications (dApps) and real-world use cases on the Layer 1 blockchain. The integration includes sBTC, a 1:1 Bitcoin-backed token, allowing the secure movement of Bitcoin onto...
The Stacks Bitcoin Layer-2 protocol is integrating with the Aptos Network, enabling Bitcoin to be used across decentralized applications (dApps) and real-world use cases on the Layer 1 blockchain. The integration includes sBTC, a 1:1 Bitcoin-backed token, allowing the secure movement of Bitcoin onto Aptos' Layer 1 blockchain. Following the conclusion of a U.S. Securities and Exchange Commission (SEC) investigation in July 2024, the SEC called off its inquiry into Stacks and its developer Hiro Systems without recommending any enforcement action, providing the protocol with a clean slate to focus on advancing Bitcoin scaling solutions.
The integration of sBTC with Aptos is set to unlock new opportunities for developers, particularly in decentralized finance (DeFi) applications and non-financial dApps such as gaming, AI, and social platforms. This partnership builds on Stacks’ recent technological advancements, including the Nakamoto upgrade earlier this year, which enhanced the protocol's transaction speeds and block production capabilities, making it more capable of integrating with other blockchain ecosystems and advancing Bitcoin’s utility within Web3 and decentralized finance (DeFi) applications.