Stacks: The Source of Truth

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The world view of people in the Stacks, Alt-Q ecosystem is Bitcoin is the source of truth. By settling transactions to Bitcoin, you're almost like saying that if there's some sort of a conflict, and people don't agree what happened on a chain or out to whatever you want to call it, then you can all the way to go back to Bitcoin. If the price of Bitcoin goes down, everything else goes down even faster. So I view Bitcoin as if Bitcoin dies, the rest of the industry would be questionable that the other industries can survive.

Muneeb Ali joins us to discuss how Stacks is bringing DeFi to Bitcoin. We cover Stacks design, the Bitcoin DeFi thesis, L2 security guarantees, Stacks' recent implementation bug and more!

And as usual, we start the episode with our analyst bullpen to discuss Aave's GHO, TradFi announcements, Optimism's Bedrock, Frax governance shenanigans and BitDAO.

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Timestamps:

(00:00) Introduction

(00:55) Hot Seat/Cool Throne

(27:19) Interview Start: Stacks

(42:22) The Proof-of-Transfer Mechanism

(46:55) The Nakamoto Release: A Security Budget Upgrade

(53:21) The Bitcoin DeFi Thesis

(57:49) Bitcoin Subnets

(1:01:10) The “Stack Increase” Bug

(1:17:15) Bitcoin MEV and Censorship

(1:25:03) Increasing Miner Competition

(1:28:37) Reorg Concerns and Orphan Blocks

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Resources:

Stacks

https://www.stacks.co/

Stacks Roadblocks (Blockworks Research Twitter thread)

https://twitter.com/blockworksres/status/1659228801384194049

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Disclaimer: Nothing said on 0xResearch is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Dan, Sam, and our guests may hold positions in the companies, funds, or projects discussed.