Amazing work! I’m so fascinated by the Bitcoin L2 ecosystem and you’ve compiled so much useful material on it.
Curious how would you characterize Stack’s architecture? You mention that rollups need to use a centralized sequencer which is only true for a subset of rollups; is Stacks a based rollup or something else?
What competitive moat do you see Stack’s as having given currently low adoption? Do you think their time to market will translate into a flywheel advantage?
Good point on Clarity being an existential risk. I think one of the strongest recent entrants here will be Starknet who will bring their own programming language and dapps from the Ethereum ecosystem. I don’t think having EVM-compatible L3s fully solves it as L3s have different security properties and the base L2 still needs to “win” on its own.
If you mention Jude Nelson you need to also mention Aaron Blankstein also with stacks from the beginning, also a Princeton PhD, and is responsible for the development of the Stacks core as well as the Clarity smart-contract language used by Stacks. He is certainly more responsible for Stacks that Friedger was. https://aaron.blankstein.com
This is one of the most thorough pieces on Stacks I’ve ever read and I’ve been in the ecosystem since 2021. Truly great work.
Amazing work! I’m so fascinated by the Bitcoin L2 ecosystem and you’ve compiled so much useful material on it.
Curious how would you characterize Stack’s architecture? You mention that rollups need to use a centralized sequencer which is only true for a subset of rollups; is Stacks a based rollup or something else?
What competitive moat do you see Stack’s as having given currently low adoption? Do you think their time to market will translate into a flywheel advantage?
Good point on Clarity being an existential risk. I think one of the strongest recent entrants here will be Starknet who will bring their own programming language and dapps from the Ethereum ecosystem. I don’t think having EVM-compatible L3s fully solves it as L3s have different security properties and the base L2 still needs to “win” on its own.
If you mention Jude Nelson you need to also mention Aaron Blankstein also with stacks from the beginning, also a Princeton PhD, and is responsible for the development of the Stacks core as well as the Clarity smart-contract language used by Stacks. He is certainly more responsible for Stacks that Friedger was. https://aaron.blankstein.com
Hi Tang,
Do you expect the bull case for STX to occur this cycle(2025/2026) or the next (if there is one)?
By the way , thank you for your in depth analysis of the STX ecosystem.
Look forward to your reply.