Ryder to operate FAST Pool, become signer in Stacks' Nakamoto upgrade

2024-01-11 06:49:59

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Ryder, a crypto hardware wallet, will integrate FAST Pool, a self-service stacking service, and participate as a Signer in the upcoming Stacks’ Nakamoto upgrade.

In a press release shared with crypto.news, this partnership marks a crucial step towards advancing Stacks as a complete Bitcoin layer-2 solution.

FAST Pool, a stacking service in the Stacks eco, enables users to stack STX, participate in network validation, and contribute to processing sBTC, a decentralized 1:1 Bitcoin-backed asset.

By operating FAST Pool and becoming a Signer in the Nakamoto upgrade, Ryder is strengthening the decentralized foundation of the Stacks eco and paving the way for a more robust and scalable Bitcoin experience.

As a Signer, Ryder will play a pivotal role in enabling permissionless movement of BTC onto the Stacks Layer through its open network.

Signers validate Stacks blocks and process transactions, ensuring the security and integrity of the network. Ryder’s participation in the Stacks eco, with a total value locked (TVL) of 43 million STX, will further enhance the network’s decentralization and resilience.

Louise Ivan, CEO at Ryder, said:

“Making life easier and safer for users is at the core of our mission at Ryder. By bringing FAST Pool into the Ryder family, we are committed to improving usability and accessibility within the Stacks eco. Together, we aim to provide users with an additional layer of security on top of the unique security properties of the Stacks layer. We believe this collaboration marks a pivotal moment in the evolution of Bitcoin, making it truly accessible to everyone.”

This integration represents a significant milestone for Ryder and the broader Stacks community, further strengthening the security and decentralization of the Bitcoin layer-2.

By empowering users to participate in network validation and enabling seamless BTC-to-sBTC transfers, Ryder is empowering individuals to take ownership of their digital assets and contribute to the future of Bitcoin.

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.