Stacks 2.0 Blockchain Set to Go Live on Mainnet
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The year 2021 has started off on an incredibly good note for the crypto industry as Bitcoin and others hit all-time highs. Carrying that momentum further is the revolutionary Stacks project (you may recognize it as Blockstack) which launches their Stacks 2.0 blockchain on January 14. Stacks 2.0 is a layer-1 blockchain that uses Bitcoin blockchain as a secure base upon which developers can build secure apps and smart contracts on Bitcoin.
With the launch of Stacks 2.0 Blockchain, the Stacks project will turn Bitcoin from being just Digital Gold to a vehicle of innovation, while providing participants with a new way to earn BTC. The Stacks network comes complete with the necessary set of tools, including the new Clarity language for building complex smart contacts anchored to Bitcoin. Unlike the standard Proof-of-Work (PoW) with Bitcoin blockchain, Stacks 2.0 blockchain uses a novel Proof-of-Transfer (PoX) min
Cryptocurrency Firms and Legacy Financial Institutions Worldwide Make Crypto Moves
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Two cryptocurrency firms filed applications this week with the Office of the Comptroller of the Currency to become federally regulated banks in the U.S. The first, BitPay, a bitcoin payments company, submitted an application for the BitPay National Trust Bank, to be headquartered in Georgia. The second application was submitted by Paxos, a stablecoin issuer and cryptocurrency services firm, for the Paxos National Trust. As a next step in the process, each application will undergo a 30-day comment period.
In the U.K., two major financial services providers have announced plans to launch an institutional-grade custody solution for cryptocurrencies, called Zodia Custody. According to a press release, Zodia would allow institutions to invest in cryptocurrency assets, including transaction and settlement activities.
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STX token trading will begin on the OKCoin exchange after the launch of the Stack 2.0 mainnet on the 14th of January.
OKCoin has revealed plans to list Blockstack‘s STX token in the US in 2021. After a successful listing, OKCoin users in the US will have access to trade STX on the OKCoin exchange platform. Apart from its US customers, OKCoin said users in other countries will also be able to trade STX. However, customers in the EU, Singapore, and Brunei will not be able to trade STX on the exchange platform.
According to an announcement by OKCoin, the listing will be completed after the successful launch of the Stacks 2.0 mainnet in 2021. Notably, OKcoin would be the first US-based crypto exchange to support the trading of STX on its platform as non-securities.