Luganodes, an institutional-grade blockchain infrastructure provider, has revealed its forthcoming support of the Stacks Layer. This represents a noteworthy advancement in facilitating the prominent Bitcoin Layer 2 (L2), streamlining the process for users to earn native BTC rewards while actively contributing to consensus. Renowned for its proficiency in delivering cutting-edge blockchain infrastructure solutions, Luganodes is poised to play a vital role in the Stacks network through its institutional ‘Stacking’ solution.
Luganodes has swiftly earned acclaim in the industry for delivering top-tier non-custodial services. Originating from the Lugano Plan B Program, a collaborative effort involving Tether and the City of Lugano, Luganodes has positioned itself as a prominent player. With its support spanning over 30 Proof-of-Stake networks, it holds notable validator positions on platforms such as Polygon, Polkadot, Sui, and Tron. Emphasizing security and compliance, Luganodes proudly stands as one of the pioneering staking providers to adhere to SOC 2 Type II, GDPR, and ISO 27001 standards.
As a Bitcoin L2 solution, Stacks is empowering smart contracts and decentralized applications to leverage Bitcoin as a secure foundational layer. The anticipated 2024 Nakamoto and sBTC releases are expected to introduce accelerated speeds and transactions supported by 100% Bitcoin finality. Stacks currently holds the leading position among Bitcoin L2 solutions, evidenced by developer engagement and market capitalization. It is positioned to play a pivotal role in unlocking the full programmable potential of Bitcoin, representing a productive asset with a substantial $500 billion in passive capital.
Unlocking New Frontiers for Bitcoin
In the dynamic evolution of the blockchain landscape, Luganodes acknowledges the central importance of Bitcoin in the decentralized finance (DeFi) sector. By endorsing the Stacks Layer, Luganodes seeks to play a significant role in unleashing the complete potential of Bitcoin. The objective is to facilitate expedited and cost-effective transactions on Layer 2 networks, ensuring an additional layer of security through the assurance of 100% Bitcoin finality.
The imminent launches of the Nakamoto and sBTC enhancements within the Stacks network are poised to usher in accelerated speeds, transactions underpinned by absolute Bitcoin finality, and the smooth integration of the sBTC asset. Luganodes, leveraging its institutional-grade services, is preparing to offer fully non-custodial Stacking solutions tailored for institutions. This initiative aims to bolster and enhance the Stacks ecosystem significantly.
A notable demonstration of Luganodes’ dedication to the Stacks ecosystem is its forthcoming position as a Signer on the Stacks network. Luganodes is set to assume the role of a Signer right from the initiation of the Nakamoto upgrade and continuing through the subsequent sBTC release. As a ‘Signer,’ Luganodes will play a pivotal role in validating Stacks blocks and processing sBTC transactions, thereby contributing significantly to the network’s security and decentralization. With its industry-leading security practices, Luganodes aims to play a crucial role in ensuring the seamless transfer of BTC between L1 and L2.
Anuj Shankar, CEO of Luganodes, said, “We’re excited to integrate with Stacks, Luganodes envisions sBTC as a cornerstone in the growing Bitcoin economy. As an sBTC Signer and Stacking Node Operator, we’re committed to empowering institutional token holders. Luganodes is proud to play a role in establishing sBTC as a preferred asset for Bitcoin-first applications, offering a user-friendly experience for signers in the Bitcoin L2 ecosystem.”
Strengthening Stacks Ecosystem for Bitcoin DeFi
Luganodes introduces institutional-grade infrastructure and services to fortify the Stacks ecosystem, laying a robust groundwork for institutions venturing into the Bitcoin DeFi landscape. Leveraging its substantial experience and commitment to industry best practices, Luganodes delivers dependable stacking solutions for institutions seeking to capitalize on the expanding prospects of Bitcoin.
For developers keen on seamlessly incorporating Stacking into their applications, Luganodes provides White Label services, streamlining the integration process and alleviating additional technical complexities and expenses. Built from the ground up, Luganodes’ infrastructure prioritizes the security and resilience of staked assets, ensuring elevated uptime and optimal performance.
Mitchell Cuevas, Interim Executive Director at the Stacks Foundation, said, “There are layers to why Luganodes’ support is meaningful to Bitcoiners. As a Signer they will be part of enabling programmable Bitcoin which in turn enables builders to create new use cases for Bitcoin. That’s exciting on its own, but because of their position in the greater staking ecosystem as well as white label services and institutional roster, they’re opening the door to a host of other key network participants as well.’’
Overall, Luganodes emerges as a pivotal force set to reshape the landscape of the Stacks ecosystem and, by extension, the broader realm of decentralized finance powered by Bitcoin. Luganodes’ strategic initiatives and collaborations position it as a key player poised to shape the future of Bitcoin-powered DeFi, providing innovative solutions, enhancing security, and fostering a vibrant ecosystem for institutional and individual participants alike.
Source: https://blockchainreporter.net/luganodes-set-to-boost-stacks-layer-paving-the-way-for-bitcoin-l2-rewards/