Originally published on: September 08, 2024
**Stacks Soars to Unprecedented Heights**
In a remarkable feat, Stacks, the smart contract layer of the Bitcoin network, has achieved an extraordinary milestone by deploying over 1,400 smart contracts in a single month, setting a new all-time high.
**Anticipation Builds as Nakamoto Upgrade Looms**
The groundbreaking achievement by Stacks precedes the imminent activation of the highly awaited Nakamoto upgrade, which commenced its rollout at Bitcoin block 840,360 on August 28th.
**Revolutionizing Bitcoin-Based DeFi with Nakamoto Upgrade**
Industry experts anticipate a significant transformation in Bitcoin-based decentralized finance (DeFi), also known as BTCFi, with the impending Nakamoto upgrade. This upgrade is poised to enhance DeFi capabilities within the world’s pioneering blockchain network.
**Insights from Industry Leaders**
Diego Mey, the co-founder of Bitflow Finance, believes that the Nakamoto upgrade will propel Bitcoin DeFi and enhance layer-2 scalability, marking a significant advancement for the industry.
Additionally, Mithil Thakore, CEO of Velar Bitcoin liquidity protocol, anticipates a reduction in Stacks’ block time to an impressive five seconds along with the establishment of 100% Bitcoin finality post-upgrade.
**Promising Future for Stacks and Bitcoin Ecosystem**
Stacks has solidified its position as the smart contract layer of Bitcoin, enabling smart contract deployment on the world’s premier blockchain network. The final hard fork block paving the way for the complete activation of the Nakamoto upgrade is on the horizon.
**Countdown to Full Nakamoto Activation**
While the activation window for the Nakamoto upgrade opened on August 28th, the exact date for full activation remains pending as core developers aim to ensure network stability through multiple stacking cycles before proceeding further.
**Exciting Developments Post-Upgrade**
Following the successful conclusion of the Nakamoto upgrade, the launch of Stacks’ sBTC – a Bitcoin-backed token – is set to take place four weeks later, aligning effortlessly with the designated timeline as updated by the Stacks team.
The Nakamoto upgrade, paying homage to Bitcoin’s mysterious creator, Satoshi Nakamoto, is poised to usher in a new era of possibilities within the blockchain sphere.
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