Stacks (STX) Is The Featured Altcoin With Its Performance This Week

Stacks (STX), which has seen a serious increase in demand with the latest updates, is striking with over 150% increase in value on a weekly basis. STX has risen over 30% in the last 24 hours, reaching $0.86, the price zone last seen in May 2022. The increase in demand for Stacks can be attributed to recently published whitepapers to make the Bitcoin network a more functional smart contract space. The first of these projects, consisting of two white papers, is sBTC, a non-trust bidirectional Bitcoin peg system. The other is the Bitcoin stabilization Nakamoto whitepaper, which is again not based on trust.

sBTC is known as the software that allows crypto assets to interact with the Bitcoin protocol faster as the version introduced to complement Stacks 2.0. The Nakamoto version includes changes to the Stacks protocol to make the sBTC software work more reliably.

The smart contracts industry has evolved on networks other than Bitcoin for years. The main platform of this industry, Ethereum, hosts thousands of smart contracts and DeFi applications with its speed and reliability. While Bitcoin is sometimes not seen as an efficient network for smart contracts, it is still considered the most secure Blockchain. By offering a layer-1 solution on the Bitcoin network in projects such as Stacks, he is making great efforts to develop highly efficient smart contracts on the BTC network.