Stacks core developer: Stacks Nakamoto's development work is nearing completion

BlockBeats reported that on June 22, according to the Stacks Nakamoto core development team, 90% of Nakamoto’s development work has been completed, and the team is making final preparations for the upcoming official launch on July 15.

The Stacks project started in 2013 and is the first Layer2 project on Bitcoin. However, the Bitcoin UTXO transaction model has resulted in low transaction efficiency for Stacks, which cannot meet the needs of the rapidly growing Bitcoin Layer2 ecosystem. The Stacks Nakamoto upgrade will enable a transaction speed of about 5-10 seconds, which is about 100 times faster than the current transaction speed.