BlockBeats news, on November 11, according to TheBlock, Muneeb Ali, founder of Bitcoin Layer 2 network Stacks, hinted on social platform X that the Stacks upgrade may be launched as early as next month. Ali said: “Early December is the target date, sBTC v1 seems to be on track, and subsequent upgrades will be launched in January and beyond.”
Stacks describes sBTC as the first trustless two-way Bitcoin peg system with the potential to expand decentralized finance (DeFi) applications on top of the Bitcoin base layer. This system is designed to solve the “writing problem” of Bitcoin, that is, the problem of writing data directly to the Bitcoin main chain, which is crucial for DeFi applications.
