Q4 2023: No Denying Demand For Bitcoin L2s

🟧 VC Theses on Bitcoin L2s, sBTC Signers, Nakamoto & More

The theme this past quarter, and seemingly the foreseeable future?

Bitcoin L2s. But let’s go a layer deeper, shall we? There was no shortage of interesting perspectives offered on the, dare I say, suddenly trendy topic of scaling and building on Bitcoin.

Degens deliver

It wasn’t just the VCs getting deeper into Bitcoin L2s, either. Builders kept right at it as you’ll see below, but I have to take a moment to celebrate those degen legends that launched STX20 as a holiday treat for the community. The Stacks layer sure felt the congestion, but we made it through and were even treated to a huge Nakamoto update.

Bitcoin Magazine covered STX20 here and I offered some perspective on the Stacks Foundation blog. They asked for proof we need great Bitcoin L2s and the STX20 folks delivered it. 👏

Nakamojo: Fly your Bitcoin flag

Safe to say, the ‘secret’ is out: The world is coming to build in Bitcoin. We want to celebrate this momentum and fly the Bitcoin flag high as we head toward halving. To join us, ‘show your Naka•mojo•’ and maybe even win something neat along the way. At worst, you’ll have fun, so throw up those 🟧's and 🧡's.

Reviewing the rest of Q4 2023

Below, we’ve collected the biggest news from the past quarter, but don’t forget, you can keep up every week with Stacks Snacks too.

To keeping your Naka·mojo·,
Mitchell & the Stacks Foundation Team

🟧 Upgrades Ahead: Nakamoto & sBTC

In early October, the sBTC working group officially announced the sBTC Developer Release live on stage at Bitcoin Unleashed 2023. In parallel to hundreds of developers immediately starting to build with the sBTC testnet release in London, over 150 developers and users officially started testing sBTC via the incentivized testnet program. Builders were eager to start trying out sBTC and have since brought multiple sBTC apps to testnet.

 🚀 Nakamoto

The Stacks community is gearing up for the Nakamoto release, aiming to deliver fast blocks and transactions secured by 100% Bitcoin finality. In late November, the Stacks Governance group published the Ultimate Stacks Nakamoto Guide to educate the Stacks community and prepare every stacker for the SIP voting process, and before the end of the year, core engineers officially announced the controlled testnet release of Nakamoto (named Neon).

So what’s next? Check out the following helpful resources:

🥇 First Integrations of sBTC

🆙 Other Integrations & Improvements:

👀 Looking at Stacks

In addition to the VCs and thought leaders in the introduction, several others took a deeper look at Stacks this quarter and shared their thoughts:

🏗️ Builders

👷‍♀️ Working Groups, Critical Bounties & Governance

📆 Events & Builder Initiatives