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
“Stacks is perfectly positioned to meet the demand for Bitcoin programmability” - from Messari’s Q1 report on Stacks
Messari also compared Stacks within top 15 crypto blockchains
Stacks was featured in Binance as one of 3 blockchains racing to become top security provider
Velar launched their incentivized testnet for its Decentralized Finance protocol
Trajan.app launched and is now live!
Bitflow, decentralized Finance protocol powered by Bitcoin, is now live on mainnet and has released their plans for integrating sBTC
Liquidium launched on Beta - Lend and borrow native Bitcoin against your Ordinal (Liquidium also has plans to integrate sBTC)
Force Prime (previously Stacks Force) launched its gaming platform in Alpha mode. Use $STX in games!
The ALEX Mainnet Bridge launched!
A total of 1.6 Million $LUNR were burned re: minting of Nakamoto 1 Android NFTs
Xverse, Gamma and Bitcoin Magazine joined forces to present "Ordinals Alley," the first-ever fine art gallery for Bitcoin Ordinals showcased at Bitcoin Miami ‘23
Stacks Foundation participated in ETH Austin and Consensus, and, with DeSpread, Stacks produced an auxiliary event during Build Seoul in early June, which was an incredible opportunity to get in front of the thriving Seoul community. Check out the event here (and lots more in the events section!).
Unlocking Bitcoin’s Full Potential with sBTC
Looking for the latest, weekly roundup of sBTC updates? Subscribe to Bitcoin Writers - Weekly sBTC Updates. This newsletter provides a weekly glimpse into the Stacks Community's effort to unlock Bitcoin write via sBTC and the Stacks blockchain. Check out more on sBTC below.
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.
House of Chimera’s one-pager on Stacks
Seeking Alpha: Stacks Bitcoin Layer 2 Could Be Huge
Stacks Foundation: Making BTC Fully Programmable with Layer 2 Technology
Trust Machines: What is the BRC-20 Standard?
Trust Machines: BRC-20 Token Standard vs. ERC-20: What’s the Difference?
Foundation: The Future of Bitcoin Has Begun - 6 Innovations
OxResearch with Muneeb Ali: Is Bitcoin DeFi overhyped or just getting started?
ZestProtocol’s Tycho Onnasch explains key DeFi use cases
Bitflow - A Real-Yield DEX for Bitcoiners
More ways to get involved
Bring your expertise to the community through a Stacks Grant or Residency
Stay up-to-date on the blockchain, and other areas of the ecosystem by joining regular calls
Join a Stacks Working Group
Reach out to us to be part of a Stacks feedback interview
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