So, What, Bitcoin is Just Ethereum Now?

TL;DR

• Stacks, the Bitcoin L2, can now course of sooner transactions and push all settlements to the BTC L1 (just about precisely the identical technique ETH is utilizing to scale).

Full Story

Is it simply us or does it really feel like Bitcoin is attempting to turn out to be the brand new Ethereum?

Yesterday we lined BTC’s adoption of certainly one of ETH’s key options (token creation) — and never 24hrs later, we’re overlaying one other characteristic yoink.

Stacks, the Bitcoin layer 2, simply went via its Nakamoto improve, enabling it to course of sooner transactions and push all settlements to the BTC layer 1.

(Ooops! We made a phrase salad!)

Right here’s what that each one means:

Stacks is performing like a banking app on an iPhone. The app makes use of the financial institution’s infrastructure to course of transactions — the iPhone has no half in that.

What it does have an element in is the app’s safety (to log-in, customers have to go a FaceID examine).

Similar goes for Stacks and Bitcoin — Stacks processes transactions by itself community, however depends on Bitcoin for safety.

And if that is all feeling eerily acquainted — that’s as a result of Ethereum L2’s work the identical method.

So, what, R.I.P. Ethereum?

Nope! The Ethereum community is established effectively sufficient to climate a bit of competitors (even when its coming from Bitcoin).

Persevering with with the theme of smartphone analogies, method we’d body it like Apple’s iOS and Google’s Android platforms…

Each can exist and develop in the identical area, with out destroying each other.

And for us as shoppers — this competitors and optionality pushes innovation, making developments a internet optimistic on each side.

We like to see it!