Amid challenges faced by the Stacks (STX) network, the much-anticipated Nakamoto upgrade seems to have encountered yet another delay in its activation timeline.
The activation window for the hard fork, aimed at introducing quicker blocks and Bitcoin finality, commenced on 28 August with the advent of Epoch 3.0. In a blog post on 20 September, the Stacks Foundation mentioned that core developers had designated block number 8646846 for the hard fork to take place on 9 October.
Uncertainty Surrounding Nakamoto Activation
While subsequent milestones were successfully met by the Bitcoin L2 network, such as the activation of the Nakamoto testnet hard fork on 27 September, issues surfaced during the initial testnet activation. The foundation reported bugs related to node communication regarding tenure extensions.
Before the mainnet hard fork, these bugs must be resolved and tested with a new version on the Nakamoto testnet and main testnet, as outlined in the blog post. The foundation emphasized the importance of ensuring stability for at least one week before the mainnet hard fork.
Last week, the foundation noted that the hard fork working group updated the testnet with Release Candidate 2 software.
The Nakamoto activation countdown has expired without any communication or updates, leaving the STX community in suspense. Some STX holders have expressed frustrations on social media platforms, pondering the feasibility of the Nakamoto upgrade and sBTC dreams due to repeated delays.
So far, no new date has been announced, raising concerns about the reasons behind the delay.
STX Confronts Technical Hurdles
The Nakamoto upgrade holds the promise of transforming the Stacks ecosystem by enhancing network utility and attracting decentralized applications. This development could potentially drive up demand and the price of STX in the spot market.
STX has been trading within an ascending triangle pattern on the daily chart, with increasing support levels. Many STX holders believe that the upgrade could act as the catalyst to surge STX’s price above $2.
Despite attempts to surpass the $2 mark, obstacles persist. Recent efforts to breach resistance levels were met with rejection at $2.08 and $1.99, highlighting the intensity of the psychological barrier existing since mid-June.
While concerns linger over the upgrade delay, its impact on STX’s potential growth remains positive. A successful implementation could marginally elevate STX’s price. However, apprehensions about the timeline may sow seeds of doubt, potentially exerting downward pressure on STX.