The Bitcoin dominance will continue to grow. The Stacks thesis by STX Founder @muneeb. | Stacks Network on Binance Square

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The Bitcoin dominance will continue to grow.
The Stacks thesis by STX Founder @muneeb.

Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.

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10 ways Stacks is connected to Bitcoin: 1. Consensus level: Proof of Transfer 2. Earn BTC Rewards – Stack STX and earn native BTC via PoX. 3. Bitcoin Finality – Nakamoto upgrade brings 100% Bitcoin finality to Stacks. 4. Boosting Miner Fees – Stacks drives more BTC L1 transactions and fees. 5. Top-Tier Signers are BTC Eco Orgs (Ankr, Xverse, etc.) 6. sBTC – A decentralized, 1:1 BTC-backed asset on Stacks. 7. DeFi with sBTC – Use sBTC in lending, swaps, LPs, and more. 8. Runes + Ordinals – Scaling Bitcoin-native innovations like Runes. 9. Decentralized Governance – Inspired by Bitcoin's ethos and BIPs. 10. Ecosystem Leaders – Xverse, Leather, Hermetica driving BTC-L2 and L1 activity.

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SIP-031 vote update: With nearly 230 million in STX voting power cast, SIP-031 is showing 96.66% in favor of SIP approval. Voting will wrap up in ~ 2 days, so be sure to get your votes in if you haven't yet! Vote at https://stx.eco

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The Satoshi Upgrades: Self Custodial sBTC. Overview of Technical Advancements: Self-custodial minting: A programmable Bitcoin asset would ideally require that any transaction that could move a Bitcoin holder's underlying BTC must be signed by them, thereby eliminating any custodial risk. As we’ll show later, using a combination of zero-knowledge proofs, HTLCs and the fact that Stacks nodes have access to Bitcoin state (and therefore can independently verify the existence of any given Bitcoin transaction), it is indeed possible to design this into sBTC. Extra care must be taken when transfers happen to other users or into a smart contract – when transferring to another Stacks user, the custody of the underlying BTC needs to be updated accordingly; while when deploying to a smart contract, ownership moves to a decentralized signer set by default. A new data structure, called the Redemption DAG, is used to manage and track all these state changes on the Stacks L2. Post-conditions on the underlying Bitcoin: When self-custodial sBTC is transferred into a smart contract the default is that the underlying BTC is held by the sBTC signer set. While this is adequate for many situations today, certain use-cases might desire more control over the underlying BTC and we can enable this. The high-level idea is that just like there are post-conditions for Stacks transactions, we can introduce post-conditions that govern the custody of the underlying Bitcoin. For instance, a lending application could specify (in their Clarity contract) that upon liquidation, the BTC will be released to a particular bitcoin address. This is only possible because Stacks has full access to Bitcoin state and is tightly integrated with the Bitcoin L1.

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