The KYVE Network has successfully integrated withStacks, a layer 1 blockchain that connects to Bitcoin and enables smart contracts and decentralized apps (dapps) to be secured by Bitcoin. This integration marks KYVE’s first step into the Bitcoin ecosystem.
Stacks is the first smart contracting layer for Bitcoin. It acts as a tiny layer above the Bitcoin blockchain, an execution layer on which users can run smart contracts. Stacks employs a proof-of-transfer system, meaning each block on the Stacks blockchain represents a transaction on the Bitcoin blockchain.
Why is Stacks integrating with KYVE?
Dapp developers building on Stacks currently only use a single API end-point, causing it to be under a massive amount of load. Syncing a Stacks node and pulling data from the layer 1 isn’t very efficient right now, especially compared to syncing speeds on Ethereum. The challenge is to make the process more time-efficient and make it easier for users to run their own nodes and thus, have their own data.
This is where KYVE comes in. By integrating with Stacks, the KYVE Network will archive Stacks data on the Bitcoin blockchain, giving the layer 1 a new, alternative way to get the data they need without having to rely on a single entity in the ecosystem.
KYVE archives all sorts of raw blockchain data, from historical stake transactions to bitcoin hashes, to microblock information.
To learn more about running an incentivized validator and help grow the KYVE x Stacks community,join the Stacks pool!
KYVE, the web3 data lake solution, is a protocol that enables data providers to standardize, validate, and permanently store blockchain data streams. By leveraging permanent data storage solutions like Arweave, KYVE’s Cosmos SDK chain creates permanent backups and ensures the scalability, immutability, and availability of these resources over time. KYVE operates as a DAO (Decentralized Autonomous Organization) which means it is powered by decentralized archivers and validators funded by $KYVE tokens. Find out more at:https://www.kyve.network/KYVE is backed by top VCs, including Hypersphere Ventures, Coinbase Ventures, Mechanism Capital, CMS Holdings, and blockchains such as Arweave, Avalanche, Solana, Interchain, and NEAR.
Join KYVE’s community:Twitter|Discord|Telegram
Secure smart contracts and apps for Bitcoin. The Stacks ecosystem is a collection of independent entities, developers, and community members working to build a user-owned internet on Bitcoin. The Stacks blockchain extends the design of Bitcoin to enable secure apps and predictable Clarity smart contracts without modifying Bitcoin itself, opening innovation on the network for the first time. The Stacks cryptocurrency (STX) is used as fuel for networking activity and contract execution and can be locked by STX holders via ‘Stacking’ to earn Bitcoin (BTC) rewards for supporting blockchain consensus. Stacks cryptocurrency was distributed to the general public through the first-ever SEC qualified token offering in US history.
To learn more about Stacks visit:Twitter,Linkedin,Discord,Telegram