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Stacks (STX) prepares for Nakamoto upgrade: here’s what to expect

Stacks, the largest Bitcoin layer-2 network, is on the verge of a transformative upgrade known as Nakamoto. As the Nakamoto upgrade approaches, Stacks’ native token, STX, currently trading at $1.80, is up 68% from its August lows.

Scheduled to begin this week, the Nakamoto upgrade promises to be a pivotal event for the platform, heralding significant changes in transaction efficiency and expanding use cases.

Stacks Nakamoto upgrade

The Stacks Nakamoto upgrade is set to drastically reduce average transaction times from 10 minutes to mere seconds.

Such a leap in efficiency opens the door to a range of new applications, including the creation and utilization of liquid stacking tokens. These tokens can now be seamlessly integrated into Decentralized Finance (DeFi) platforms, allowing users to deposit, borrow, and leverage liquidity with greater ease.

In addition to improved transaction speeds, the Nakamoto upgrade will introduce sBTC, a new asset pegged 1:1 to Bitcoin.

Unlike wrapped Bitcoin (wBTC), which relies on a central custodian, sBTC aims to provide a decentralized alternative. This enhancement promises increased censorship resistance, cost efficiency, and robust security features.

By simplifying Bitcoin’s use in DeFi, non-fungible tokens (NFTs), and gaming, sBTC is expected to differentiate itself from existing solutions and attract more creators to the ecosystem.

The anticipated upgrade is not only poised to revolutionize transaction processes but also to bolster the DeFi and NFT sectors within the Stacks network.

As developers roll out the Nakamoto upgrade, the Stacks is likely to see increased adoption and innovation, positioning it as a significant player in the evolving landscape of Bitcoin layer-2 solutions.

The post Stacks (STX) prepares for Nakamoto upgrade: here’s what to expect appeared first on CoinJournal.

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Argentina’s Ministry of Education adds Ethereum to high school curriculum

  • Buenos Aires high schools will start offering blockchain internships on August 27.
  • ETH Kipu will train 500 students in Solidity and prepare 30 instructors.
  • Argentina’s high inflation drives strong local engagement with digital assets.

In a groundbreaking move to advance blockchain education, Argentina’s Ministry of Education has partnered with ETH Kipu to introduce Ethereum and blockchain technology into the high school curriculum in Buenos Aires.

Starting August 27, high schools across the city will offer blockchain internships, providing students with invaluable hands-on experience in this rapidly evolving field.

Spurring blockchain adoption in Argentina

The collaboration with ETH Kipu, a prominent organization dedicated to Ethereum education in Latin America, marks a significant step in integrating cutting-edge technology into secondary education.

The program will include a specialized online Solidity course, designed to train 500 students in the intricacies of decentralized application (DApp) development.

Solidity, a high-level programming language used to create smart contracts on the Ethereum blockchain, has gained prominence in various networks, including the BNB Smart Chain and Avalanche.

ETH Kipu aims to equip students with the skills necessary to thrive in the blockchain sector, while also preparing 30 instructors to deliver comprehensive Ethereum and blockchain training.

According to Paula Doy, co-founder of ETH Kipu, this initiative not only introduces students to advanced technology but also opens new career opportunities, positioning Argentina at the forefront of the global blockchain movement.

Argentina’s soaring inflation driving crypto adoption

The Ministry of Education initiative comes against the backdrop of Argentina’s soaring inflation rate, which has driven significant local engagement with digital assets.

With an annual inflation rate of 276%, many Argentinians are turning to cryptocurrencies like Tether (USDT) to safeguard their assets.

Recently Forbes analysts reported that Argentina leads the Western Hemisphere in crypto adoption, with substantial activity on major platforms like Binance.

ETH Kipu’s partnership with Buenos Aires is a promising development, reflecting the country’s commitment to fostering technological innovation and preparing its youth for the future of digital finance.

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DOGS launch impacts crypto exchanges and Telegram Wallet

  • DOGS launched on exchanges on Aug. 26, with on-chain claims open to millions of Telegram and TON users.
  • Services for crypto exchanges such as Binance and Bybit slowed.

Telegram Wallet announced on Monday that the launch of TON-based meme coin Dogs (DOGS) had many crypto exchanges experiencing disruption to their services.

The announcement followed similar updates from Binance and Bybit, top tier exchanges that listed the meme token for trading on Aug. 26.

Telegram Wallet reports disruption amid DOGS launch

DOGS token’s on-chain claims and trading debut saw the Telegram Wallet’s functionality slowed as millions of holders began claiming tokens.

“The $DOGS release has created quite a buzz! Several crypto exchanges, as well as Wallet (albeit partially), are running less smoothly than usual. Our exchange feature is temporarily unavailable, but don’t worry — we’re working hard to resolve this and get everything back to normal soon,” Wallet wrote.

Bybit also provided an update noting resumption of normal service after a brief disruption.

Earlier, Binance listed DOGS for trading after adding it to the Launchpool as the 57th project. The exchange added trading pairs for USDT, BNB, FDUSD and TRY.

Binance later provided an update noting that its upgrade of the TON network was taking longer than anticipated “due to unforeseen issues.”

Delays saw Binance suspend deposit and withdrawal for TON – the Open Network token that plummeted after Telegram CEO Pavel Durov’s arrest in France.

DOGS traded around $0.001182, roughly 32% down on the day after debuting at $0.0018.

Meanwhile, TON price was around $5.57, nearly 3% down in the past 24 hours and 18% in the red over the past week

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