Stacks Blockchain Implements Major 'Nakamoto' Upgrade

Stacks Blockchain Upgrade

Stacks blockchain, known for enhancing Bitcoin's functionality, has begun implementing its biggest update named Nakamoto, starting from Bitcoin block height 840,360. This upgrade is a significant leap from the Bitcoin network's limitations, intending to solve congestion issues by reducing reliance on the Bitcoin block production schedule.

Improving Transaction Processing

The Nakamoto upgrade introduces a novel block production mechanism, refining the proof-of-transfer consensus algorithm. The introduction of block 'signers' will validate 'tenures' of transactions. Even though the full activation will complete in late May, early phases are underway to 'practice' this new system.

Impact on Users and Token Performance

Stacks users are advised to ensure their wallets are up-to-date to accommodate the changes, which is often an automatic process. The update also brings good news for STX token stakers, with the unlocking of staked tokens ready for restaking in Nakamoto-compliant pools. The token has seen a 16% increase in value, now ranking within the top 25 by market capitalization, indicative of the potential growth stemming from this upgrade.