Bitfinex Recognizes Stacks as Leading Bitcoin Layer-2 Protocol
Bitcoin layer-2 protocol Stacks has been recognized by Bitfinex as one of the leading protocols in terms of actual Bitcoin usage. According to a report, Stacks enables smart contracts on top of the world's largest blockchain and has more than 4,000 BTC moving on-chain through its consensus mechanism called Proof-of-Transfer (PoX) since 2021.
This is significant because it shows that Stacks is not just another layer-2 network built on Ethereum. Instead, it anchors itself to Bitcoin through PoX, tying the network's security directly to Bitcoin's.
Bitfinex has taken a deeper involvement in the Stacks ecosystem by listing its native STX token and becoming a network signer. This means that Bitfinex is actively helping to secure the Stacks blockchain itself and contributing exchange-grade liquidity to the network.