Q2 2023: Rise of the Bitcoin Layers

The year began with a flurry of Ordinals driven activity and before we all knew it, added BRC-20’s to the mix. All this activity on the Bitcoin base layer roared right in Q2 and forced everyone to revisit discussions around scalability. Namely, now that builders are flocking back to Bitcoin, how do we make sure they have what they need to be successful without compromising what makes Bitcoin great?

The answer, resoundingly: L2’s.

There was probably no single moment where this was more clear than it was at the Miami Bitcoin Builders conference. This momentum-building conference brought together leading Bitcoin layers and ecosystems including RSK, Lightning, Stacks, and others. Attendees included founders and developers from a wide spectrum, from brand new to building, to experienced builders making the jump from Ethereum or other L1s, to long-time OG Bitcoin builders.

The overarching sentiments…

  • Building on Bitcoin is blossoming

  • Layers are needed and welcome

  • Bitcoiners can and should collaborate and innovate together

Meanwhile, more eyes are on Stacks as a uniquely positioned project to meet the increased demand for Layer 2 solutions for Bitcoin, being recognized as a leader in the space by Binance and Messari (more in highlights!).

Q2 also saw these Stacks milestones:

  • The Stacks 2.1 activation in March paved the way for the upcoming Nakamoto and sBTC releases, opening up new possibilities for the ecosystem.

  • Stacks crossed the 100,000 block height milestone, highlighting growing usage.

  • Bitcoin-secured Clarity smart contracts surpassed the 60,000 milestone, propelling decentralized applications built on the Stacks blockchain to new heights.

  • Stacks outperformed the market, securing a position in the top 50 of CMC's ranking, with a market cap that is up 53.3% YTD

Throughout the Stacks ecosystem, builders created more value for Bitcoiners:

  • Gamma emerged as one of the most popular inscription tools and Ordinals marketplaces

  • Xverse released wallet and PSBT support,

  • Hiro launched an Ordinals Explorer/API and wallet support, while

  • Neoswap and Satoshibles collaborated on Ordinal swaps, and

  • ALEX became the first DEX to support BRC-20s, combining L1 indexing & L2 optimization

Check out plenty more stories below and stay Stacking!

-Stacks Foundation Team

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Unlocking Bitcoin’s Full Potential with sBTC

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Did we see you at these past events?

Find Stackers at these upcoming events

  • Ready Layer 2: the 1st Bitcoin L2 pitch competition

  • Bitcoin Unleashed: London! October 19th and 20th

    Even with unprecedented regulatory scrutiny in the U.S., Bitcoin’s popularity is surging again. More and more builders are creating new solutions and use cases on top of the original blockchain, catching the attention and growing interest of institutions and investors. Bitcoin Unleashed London will gather the best and brightest entrepreneurs, builders, and investors for engaging conversations, instructive workshops, and high-value networking. Sessions include live demos, technical workshops, keynote speeches, parties, panels, and discussions on everything from DeFi to decentralized gaming, NFTs, and more.

Sneak Peek at the rest of 2023

Find conferences, hackathons, recurring meetings, and more from throughout the Stacks Ecosystem. You can also submit events on behalf of your organization or local community.

Programs + Governance Updates

  • The Foundation’s Lead Like a Gardener series: get a deeper dive on how the Stacks Foundation operations and leads in the broader Stacks ecosystem. This series articulates the strategies and working models leveraged by the Foundation in service of the ecosystem. Check out the 4 posts below for a closer look at the lead like a gardener model as well as the Foundation’s approach to community programs, events, and security.

More ways to get involved

Can’t miss resources

  • Stacks Snacks: A weekly link roundup of all the biggest Stacks news run by the Comms Working Group

  • Bitcoin Builders Association Newsletter: A weekly roundup covering the biggest news from Ordinals, Lightning, RSK, and Bitcoin in general

  • Bitcoin Writes: A newsletter run by the sBTC Stacks Resident keeping you apprised of all the latest development around sBTC