New NFT Auction

There are three main Layer 2 solutions on Bitcoin, including the Lightning Network and RSK and Stacks. Each Layer 2 solution has its complement and has different goals, and Stacks is at the forefront of developing ecosystems for traditional crypto applications such as NFT and DeFi as well as name services. It has the most advanced NFT ecosystem, the peer-to-peer Bitcoin naming service exists on Stacks, and subsequent upgrades will enable more DeFi applications later this year. Stacks is the only one of the three Layer 2 solutions for Bitcoin that has tokens. From an investment standpoint, I think this is an exception. What sets Stacks apart from other Layer 2 solutions is its consensus mechanism, known as Proof of Transfer or POX. It allows miners to stake Bitcoin to secure the Stacks network and receive STX tokens as rewards. The STX token has multiple uses in the ecosystem, starting with paying transaction fees on the Stacks network. Additionally, STX tokens can be used to mint sBTC, a Bitcoin-pegged token used to power decentralized applications on the Stacks platform. Unlike many tokens, STX tokens have real value appreciation. Stacks employs a proof-of-transfer system similar to Proof-of-Work, where miners verify Stacks transactions, but instead of receiving issuances at no cost, they must bid on Stacks blocks in order to receive STX rewards. The currency they use for bidding is Bitcoin, and these Bitcoins will be distributed to holders by STX obtained through bidding by Stacks stakers. This creates a system where miners do the work of validating transactions, but do not receive all the rewards alone, some of the rewards are distributed to STX holders through miners' bitcoin bids. This creates a real bitcoin yield for Stacks stakers, currently 7%. Like 👍Click it up, the latest news 📈📉 is uninterrupted #STX #Layer2 #SEC

Stacks faces stiff competition. One issue I also see is that there are still some barriers to entry for participants to mine on the Stacks network. It seems to have caused many large players to leave the network, and retail investors are reluctant to participate because they do not want to exchange Bitcoin for tokens. All of these are some of the problems that Stacks have to solve, they cannot bypass market sentiment with code. The next bull run will be their big chance to realize their original vision, to build an Internet built on Bitcoin, otherwise they may be surpassed by other projects. All in all, Stacks is still a work in progress and nowhere near as technically advanced as some of the other tier one solutions on the market. Furthermore, STX, unlike all other coins, still relies on favorable market conditions to increase its price, especially favorable conditions for Bitcoin itself. Speaking of which, so what happens to Stacks for the rest of the year? In this year's program, there is a major upgrade called Nakamoto coming. The upgrade is expected to allow the Stacks network to produce a block every five seconds, rather than the current limit of one block every 10 minutes on the Bitcoin network. This will greatly increase the speed and scalability of the Stacks network. As they officially say, the Nakamoto release will add important features that enhance Stacks' capabilities as a Bitcoin layer. In addition to the trusted two-way peg sbtc, this will enable transactions guaranteed by Bitcoin determinism and expedite the transaction of Stacks between Bitcoin blocks. Although still under development, Stacks has a lot of potential to change the landscape of smart contract deployment on Bitcoin. Like 👍Click it up, the latest news 📈📉 is uninterrupted #STX #EVM #sbtc

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Babylon BTC stake Testnet-4 has been launched. Currently, Babylon test staking is full and staking is temporarily closed. It will be reopened later. Be prepared and ready for the next staking, and you can deposit directly next time. Using Tomo wallet as an example below (Tomo is a Web3 social Wallet that has recently launched the Tomo Extension. It allows users to log in directly with their social accounts. It is in partnership with Babylon. The Tomo Wallet now supports the Babylon testnet and allows staking sBTC on Babylon.) 🔶Tomo Google plugin wallet download 🔶Switch the wallet to the Testnet network and select Bitcoin Signet 🔶Claim Water (Available in three ways) 🔸 🔸 🔸Enter the following command in the DC channel faucet-signet-btc of Babylon to receive water: !faucet sBTC Address 🔶Select Node stake (currently full, need to wait for opening later) 🔸Enter the Signet BTC amount and click preview 🔸 Click on stake to initiate the staking process The above is a guide to Babylong's Testnet-4, and those interested can experience it.

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