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21 September 2021

Stacks AMM Revealed, Native Bitcoin Swaps Executed With Proof-of-Transfer Protocol – Technology Bitcoin News

Stacks AMM Revealed, Native Bitcoin Swaps Executed With Proof-of-Transfer Protocol – Technology Bitcoin News


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Stacks AMM Revealed, Native Bitcoin Swaps Executed With Proof-of-Transfer Protocol – Technology Bitcoin News.

According to a recent report, the first trust-less swap between the Bitcoin blockchain and Stacks protocol has been executed.

The co-founder of the Stacks protocol, Muneeb Ali tweeted about the native bitcoin swap and said the progress is a big deal.

On July 23, a trust-less swap using the Stacks protocol and the Bitcoin (BTC) blockchain was settled onchain.

“The first trustless swap between [the] Bitcoin [blockchain] and Stacks chain is happening,” a user wrote on the forum.

The computer scientist and Stacks co-founder said that wrapped bitcoin is “not bitcoin” and said that many bitcoiners don’t trust the network models that house these crypto assets.

Ali also said that usd coin (USDC) will soon be supported and that “trust-less BTC/USDC swaps can be possible.” He added that Ethereum features are possible directly on Bitcoin, and users can create “Uniswap-like AMMs (Automated Market Makers) built around native BTC swaps, [and] do pure BTC transactions to interact.” Moreover, Ali highlighted that these features will come with the robust security of the BTC blockchain.

What do you think about the swap between Stacks and the Bitcoin blockchain and the AMM ALEX

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