Crypto funds such as NorthRockLP are turning to stacks tokens as part of a bet on Bitcoin ecosystem growth seen stemming from bitcoin-related financial ecosystems and the recent introduction of Ordinals. By shauryamalwa
So far, over 197,000 unique inscriptions, a term for each individual token on Ordinals, have been conducted, Dune AnalyticsNorth Rock did not disclose specifics of its STX investment. Press did not immediately respond to requests for comments.
In its thesis, North Rock said Stacks offers several advantages over blockchain platforms such as Ethereum including lower gas fees, faster transaction times and enhanced security. The analysis also explores potential use cases for Stacks technology, including the creation of decentralized social media platforms, prediction and trading markets and lending and borrowing applications. Such products are the bedrock for $50 billion in locked token value on applications built on other blockchains,A Stacks upgrade scheduled for March 20 may have also contributed to the recent price growth of STX.
One of the main features is the introduction of"Stacking 2.0," an updated version of the Stacks consensus mechanism. Stacking is a process in which STX token holders can lock up their tokens to help secure the network and earn rewards. Stacking 2.0 aims to make the process more accessible and inclusive by allowing smaller token holders to participate and earn rewards. The upgrade will also add improvements to smart contract functionality, enhanced scalability through the use of a new"microblocks" feature and better support for
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