Stacks

sBTC

Silver

Foundation

Stacks, one of the leading Bitcoin layer-2 networks with smart contract functionality, has announced receiving a commitment from eight new signers: Blockdaemon, Near Foundation, DeSpread, Luxor, Chorus One, Kiln, Restake, and Alum Labs.
The organizations are joining Stacks’ existing list of signers that include Copper, Figment, Loganodes, Xverse and Ryder, according to a March 5 press release shared with Cointelegraph.
The new signers on Stacks aim to further enhance the network’s security and decentralization, according to Andre Serrano, sBTC resident at the Stacks Foundation. Serrano wrote:
<blockquote data-ct-non-breakable="true">
 These Signers add yet another layer of decentralization and bring industry-leading infrastructure to the leading Bitcoin L2 as the ecosystem seeks to unlock the Bitcoin economy and bring Bitcoin to billions of users. Together, we are poised to unlock exciting new use cases for Bitcoin.”
</blockquote>
Signers on Stacks are responsible for validating blocks and processing transactions, ensuring network integrity. Stacks is the leading Bitcoin layer-2 regarding developer traction and market capitalization.
Stacks’s STX (<a href="https://cointelegraph.com/stacks-stx-price-index">STX</a>) token fell 5.55% in the 24 hours leading up to 1:00 pm UTC, to trade at $2.90. The coin is down over 5% on the weekly chart, but up over 93% during the past month, according to CoinMarketCap <a href="https://coinmarketcap.com/currencies/stacks/" target="_blank" rel="noopener nofollow">data</a>.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-03/62e64ccf-06b7-480e-8b6a-71026319e16f.jpeg" alt="" title="">
 <figcaption style="text-align: center;">
 STX/USD 1-week chart. Source: CoinMarketCap
 </figcaption>
</figure>
Stacks’ new announcement comes ahead of the network’s upcoming Nakamoto and sBTC releases, which aim to bring faster transaction speeds with 100% Bitcoin finality. While the Nakamoto release will begin between April 15 and 29, the SBTC Developer release is scheduled for Q3 2024.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-03/8ea34d5c-d84b-400b-a209-99e7d1e08c20.png" alt="" title="">
 <figcaption style="text-align: center;">
 Stacks roadmap for 2024. Source: Stacks
 </figcaption>
</figure>
In the broader crypto space, interest in the Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>) ecosystem is growing, thanks to the bullish price action of the world’s largest cryptocurrency. <a href="https://cointelegraph.com/news/bitcoin-market-cap-new-high-surpassing-silver">Bitcoin’s market cap reached a new all-time high</a> of $1.35 trillion on March 5, briefly surpassing silver to become the eighth-largest asset in the world.
The new all-time high comes a day after Bitcoin recorded its highest daily close at $68,245 on March 4, beating its previous record close of $67,525 on Nov. 8, 2021 — bolstering analyst expectations that <a href="https://cointelegraph.com/news/bitcoin-best-day-ever-100k-btc-price-programmed">Bitcoin price could reach $100,000</a> before the end of 2024.
Related: <a href="https://cointelegraph.com/news/is-the-bitcoin-halving-the-right-time-to-invest-in-btc">Is the Bitcoin halving the right time to invest in BTC?</a>

Stacks expands with Blockdaemon, Near Foundation amid Bitcoin surge

Cointelegraph

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