Building Bitcoin capital markets 🟧 Stake BTC on Bitcoin, earn BTC with Stacks (STX) | 🟧 TG: https://xitter.twitterapi.xyz/t.co/EBMtMGy1CF
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Joined July 2015
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Stacks is building Bitcoin capital markets, the yield, credit and trading markets that Bitcoin, the world’s leading digital asset, still lacks.
Stacks Founder @muneeb explains why they matter 🟧
Learn more below. 1/7 👇
stacks.btc retweeted
I underestimated Bitcoin’s risk to quantum.
Initially, it seemed like a problem that was still far away. Surely the smart people in the Bitcoin community would figure it out before it became urgent.
But after spending more time researching it, it became clear that the challenge is more complicated.
We’re now faced with some difficult questions:
- Which PQ signature scheme should Bitcoin adopt?
- How should users migrate?
- What happens to lost or dormant coins?
- How does the network reach agreement on an upgrade?
Bitcoin has no company or foundation that can mandate an upgrade. That decentralization is one of its greatest strengths, but it also makes a coordinated migration difficult.
Choosing an approach, building it, reaching consensus, and migrating users could take years.
So what are we doing about it?
At Stacks Labs, we’ve formed an R&D team focused on three initial priorities:
1. Make Stacks quantum-resistant
2. Study how to protect the Bitcoin backing sBTC
3. Contribute research and proposals that can support Bitcoin’s transition to PQ
As a first step, we completed an sBTC transfer on Stacks mainnet using Lamport signatures, a hash-based signature verified in Clarity.
This is an early PoC. We’re still evaluating potential signature schemes and what a broader transition would require. We’ll share more about this research and the broader Stacks quantum roadmap soon.
stacks.btc retweeted
~26% of all staked STX on @Stacks is staked through Stacking DAO.
That is 133M of the 514M STX staked in cycle 147.
How Stacks engineers moved sBTC with a post-quantum signature, without a protocol upgrade:
Bitcoin and Stacks use elliptic-curve signatures, which a powerful enough quantum computer could break to forge transactions. Hash-based signatures are designed to resist that.
Each Lamport key can sign only once. After a transfer, the contract installs the next key in the same transaction, so an old authorization can't be replayed.
A separate Stacks account submits the message and pays the fee in STX.
The contracts, signing software and test evidence are public on GitHub for anyone to review.
Full write up, plus what's next for post-quantum research on Stacks:
stacks.co/blog/the-first-pos…
stacks.btc retweeted
STACKS $STX COMPLETES ITS FIRST POST-QUANTUM SBTC TRANSFER ON MAINNET, THOUGH THE MAIN SBTC SYSTEM HAS NOT BEEN UPGRADED YET
stacks.btc retweeted
Chatting with Bitcoin OGs is always fun. Especially when they have several advanced degrees in Computer Science. Muneeb had a wealth of knowledge anyone can appreciate.
Here’s a sneak peek of what we covered. Follow @TheBlockCo and @Stacks so you don’t miss the drop!👇
Bitcoin has spent 17 years as a store of value. It still has not scaled native yield.
Stacks founder @muneeb on Bitcoin bonds, the looming quantum threat, and the role privacy plays in Bitcoin's future.
Bitcoin's Next Frontier. Full episode coming soon.
stacks.btc retweeted
Bitcoin's quantum threat used to feel far away. AI may be pulling it closer.
"Some of the quantum stuff might happen sooner than we thought."
@Stacks founder Muneeb Ali: a protocol built to resist change now has to move faster, and Bitcoin isn't used to operating that way.
stacks.btc retweeted
Stacks is well ahead of the post-quantum game.
Stacks Labs just completed the first post-quantum $sBTC transfer on Stacks mainnet.
@Stacks used a Lamport one-time signature verified in Clarity, showing the network can already check hash-based post-quantum signatures through smart contracts with no protocol upgrade needed.
Quantum computers are a long-term risk for Bitcoin and other chains that rely on elliptic-curve signatures. A sufficiently powerful machine could potentially break those signatures and put funds at risk.
The transfer is part of ongoing research into making Stacks quantum-resistant. The team is now looking at other post-quantum schemes and how the work could support Bitcoin L1, since Stacks settles to Bitcoin and $sBTC is backed by $BTC.
Stacks Labs just completed the first post-quantum sBTC transfer on Stacks mainnet.
0xb983fa37d30d5ece2c2d3d539885cf5d6f2394245a733d76820a6fa9ca6a5b97
stacks.btc retweeted
What happens when Bitcoin treasury companies move beyond accumulation? A new source of demand emerges for Bitcoin structured products.
The 1,000 BTC Bitcoin Bond, with Bullish participating, is an important proof point. blockstack:native serves as the access asset that enables this capacity.
I've long believed the market underestimates what happens when Bitcoin becomes productive capital. This is an early signal of where Bitcoin's financialization is headed.
Are Bitcoin treasury companies moving beyond simply holding BTC?
Stacks co-founder Muneeb Ali says major BTC holders like Bullish are now earning yield through Stacks' 1,000 BTC "Bitcoin bond"
"We're calling them Bitcoin bonds. Every month, new capacity comes online, because we can't take that much Bitcoin. The limiting factor actually becomes that these parties have to have some STX position. STX works as an access asset."
"Imagine if everyone wants to go to the US Open. Well, you can't, because there are tickets and there's limited seats. Maybe the ticket prices will start going up if there's a lot of demand. So that's the role that STX is playing in this product."
"We release capacity every month. We've done two of them before, and right now the third bond is our largest bond. We're super excited to announce that Bullish came in, along with some other institutions, to participate in a 1,000 BTC bond."
"It's a public company. They're a large Bitcoin holder, and we're really excited that a large entity like Bullish is actually deploying capital into Stacks."
"They would be earning Bitcoin yield directly for their balance sheet."
Everything you need to know about Bitcoin staking, in one place ↓
stacks.co/bitcoin-staking
If you’ve ever wondered how Stacks is building Bitcoin capital markets, this is the one.
@muneeb gets into miners, Lightning, quantum, and how Bitcoiners are earning BTC on their BTC in self custody.
Stacks founder @muneeb is turning bitcoin from a store of value into productive capital. He joins @imyoungsparks on:
• How @Stacks bonds pay bitcoin holders 3% in BTC
• Stacks vs. Lightning
• The quantum threat and Satoshi’s coins
• “Muneeb’s law”
AI is speeding up the quantum timeline. Stacks wants to help Bitcoin’s base layer get ready for it.
@muneeb explains 👇
An episode you can't miss.
Bitcoin has spent 17 years as a store of value. It still has not scaled native yield.
Stacks founder @muneeb on Bitcoin bonds, the looming quantum threat, and the role privacy plays in Bitcoin's future.
Bitcoin's Next Frontier. Full episode coming soon.