has been the king of blockchains for more than a decade. Most people have come to recognize that the Bitcoin network is when it comes to . Bitcoin incomparable security Bitcoin’s limited scripting language has been seen as a deal breaker to developers looking to build dapps or deploy smart contracts. Because of that many people think it is easier to recreate Bitcoin on Ethereum, but actually a much better solution is to Ethereum Adopting this is still in its very early stage, but people are definitely beginning to realize the value and the opportunists of building in the Bitcoin ecosystem and not in parallel with it. As a result, many developers end up building their own blockchains, trying to create native Proof of Work protocols or Proof of Stake more complex and effective, but these tend to be much less secure and stable. But create functionality on Bitcoin. The best solution to take advantage of the existing Bitcoin network and to bring a user-owned internet (Web 3.0) is to and in a way that uses Bitcoin as a reserve currency and its powerful blockchain as a security mechanism. This all brings us to the novel Proof of Transfer (POX) consensus mechanism of the Stacks 2.0 blockchain that unlocks this possibility and which is already around the corner! anchor applications smart contracts to the Bitcoin network Stacks 2.0 blockchain is on target to reach code completion by December 15th, 2020 and the launch date is set on January 14th, 2021 ! we can treat as another layer built on the foundation of Bitcoin. This blockchain is based on trust and security provided by Bitcoin network. Thanks to the Smart Contract programming language and consensus, developers will be able to create Smart Contracts in a much safer language that is predictable and settable. Stacks 2.0 Clarity Proof of Transfer After the mainnet developers and miners will be able to interact with the full mechanism, and users will soon be able to test . With , miners submit bitcoin (BTC) to mint new stacks (STX) tokens, and stackers can lock-up (or pool) their STX tokens to receive BTC rewards. Proof of Transfer Stacking PoX Stacking Flow "STX enables BTC secured DeFi." - Patrick Stanley Proof of Transfer solves a few important problems, provides developers new tools, and enables more functionalities on top of Bitcoin. This is possible through the use of the Clarity Smart Contract language that optimizes for predictability and security. There are two key elements to how this is done: Clarity is a decidable language, meaning you can know what it's doing from reading the code. Clarity is interpreted, not compiled, so that the source code is published and executed by blockchain nodes WYSIWYG - example of What You See Is What You Get. Clear Code Clarity Smart Contracts Programming Language Putting trust in code only about our savings requires the highest level of security. The above features of the Clarity language helps eliminate to create a safer environment for programmatically locking up money. common smart contract vulnerabilities Summary Clarity Smart Contracts programming language and the Proof of Transfer consensus eliminates the choice between flexibility and security. With PoX, developers can build functionality on top of a secure foundation in Bitcoin while Clarity’s design helps eliminate whole classes of smart contract bugs and provides greater predictability. Stay tune for the #DeFionBTC revolution! strefa.crypto Previously published at https://strefacrypto.medium.com/defionbtc-the-future-of-defi-is-on-bitcoin-8c9b4c87802f
