Stacks, formerly Blockstack — an open-source network for building decentralized applications — has an ambitious vision to bring smart contracts and decentralized finance to the Bitcoin (BTC) network.
On Thursday, the developer community celebrated the launch of Stacks 2.0, a bridging toolkit that allows developers to build on Bitcoin.
Stacks 2.0 is described as a layer-one blockchain with a native bridge to Bitcoin. The toolkit is underpinned by the Clarity smart contract language, a joint open-source protocol supported by Blockstack and Algorand.
From an industry perspective, the launch of Stacks 2.0 is significant for several reasons. On one hand, it expands Bitcoin’s scripting language, allowing developers to build smart contracts and other innovative tools on top of the blockchain. By bringing more use cases to Bitcoin, Stacks 2.0 could potentially dilute the value proposition of competing chains. This could secure Bitcoin’s already dominant position as the world’s largest blockchain and cryptocurrency.
Muneeb Ali, Stacks’ co-founder and Hiro PBC CEO,