Binance supports Stacks network upgrade: Bitcoin L2 scaling takes a step forward

Bitcoin L2 network upgrade received support as Binance backed Stacks' upgrade. Bitcoin's TVL showed growth while Stacks' TVL remained stagnant.

However, it’s worth noting that the Bitcoin L2 upgrade was set to occur at a specific block height of 787,651. Withdrawals were, however, going to be suspended at the block height of 787,645. At the time of writing, the blockchain height was 787,621, as perThe Stacks network operates with a unique design philosophy that prioritizes true decentralization.

Also, the approach, known as “layer-2” scaling, enables developers to build additional features and functionality on top of the existing Bitcoin infrastructure without requiring changes to the underlying protocol.that enable smart contract functionality on the Bitcoin network is driving an increase in the Total Value Locked of the network.

As of the time of writing, DefiLlama data showed that Bitcoin’s TVL reached $201.44 million, with an upward trend that indicates positive growth.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

CryptoAmb /  🏆 22. in CA

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Binance to again set foot in Japan via an acquired exchangeBinance is all set to return to Japan after a period of five years by acquiring the crypto trading platform Sakura Exchange Bitcoin (SEBC).
Read more »

Bitcoin [BTC] long-term holders cash in: Will the market crumble under sell-offsLong-term Bitcoin holders are profiting as the Spent Output Profit Ratio (SOPR) reaches a new milestone. However, profit-taking may be putting pressure on Bitcoin's steady climb.
Read more »

Bitcoin [BTC] whales are on the move again, will this kickstart a new rally?Bitcoin whales started to show interest in the king coin yet again. Should retail investors be skeptical of a rally?
Read more »

As Bitcoin [BTC] emerges victorious amidst banking crisis, will it reclaim $30kThe spate of banking collapses in March led investors to put their funds in the crypto market and see BTC as a hedge against traditional finance.
Read more »

Bitcoin futures outweigh spots: Gauging the soaring BTC volatility, trading activityAs Bitcoin's volatility index exceeds 60%, futures trading volumes continue to dominate the market, with traders actively taking long and short positions to maximize their profits.
Read more »

Bitcoin [BTC]: Will high network activity affect traders? Assessing…Bitcoin witnessed a massive surge in activity over the last few days. The illiquid supply of the coin started to rise as traders turned optimistic.
Read more »