Stacks CEO Muneeeb Ali spoke at the Consensus 2023 conference on Saturday about Bitcoin’s potential as a payment layer and the resurgence of developer culture in the community.
Ali noted that small, specific changes to Bitcoin’s base layer could open up many applications that can be built using Layer 2 technology.
- According to the developers, the Bitcoin “ZK rollup” requires “very minor changes” to the base layer to function properly — a layer 2 scaling solution for batch transactions that ethereum typically uses.
- “It’s just two OP codes,” Ali said, “like checking OP STARK or checking OP SNARK — it’s possible.”
- However, Ali does not expect this change to happen in another 4 to 5 years due to the slower development of the Bitcoin base class.
- Even without these changes, Ali believes Bitcoin will continue to evolve into a more developer-friendly chain. The company Stacks – calling itself the “1.5” Bitcoin layer – has developed a protocol called sBTC to connect BTC from layer 1 of the chain to layer 2 of the chain in a relatively decentralized manner.
- When Bitcoin Ordinals NFT became popular in February, the STX Stacks token went up. The stack itself supports NFT on its own, but Ordinals is the underlying layer technology.