PANews reported on November 11 that according to The Block, Bitcoin Layer2 network Stacks co-founder Muneeb Ali hinted that the network's next major upgrade is coming. Ali pointed out in the X post that the network's upcoming sBTC token may be released as early as next month. Ali wrote: "(Early December) is the target time, sBTC v1 seems to be on track, and there will be more upgrades in January and beyond."
Stacks promotes sBTC as a solution to Bitcoin's "write problem," which is the difficulty of writing data directly to the Bitcoin main chain, which is essential for decentralized financial applications. According to Stacks' announcement, Stacks' sBTC will "enable smart contracts to programmatically send sBTC to a BTC address, where it will be anchored to BTC." Stacks believes that sBTC's novel decentralized two-way anchoring will provide an option that is more in line with Bitcoin's decentralized philosophy, thereby unlocking value.
