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Home»Wallets and Exchanges»Ryder to operate FAST Pool, become signer in Stacks’ Nakamoto upgrade
Wallets and Exchanges

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

January 19, 2025No Comments2 Mins Read
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Ryder, a leading crypto hardware wallet, has announced a strategic partnership with FAST Pool, a self-service stacking service, to participate as a Signer in the upcoming Stacks’ Nakamoto upgrade. This collaboration signifies a significant step forward in advancing Stacks as a comprehensive Bitcoin layer-2 solution.

FAST Pool, a key player in the Stacks ecosystem, offers users the opportunity to stack STX, engage in network validation, and contribute to processing sBTC, a decentralized 1:1 Bitcoin-backed asset. By incorporating FAST Pool into its services and becoming a Signer in the Nakamoto upgrade, Ryder is reinforcing the decentralized infrastructure of the Stacks ecosystem and laying the groundwork for a more robust and scalable Bitcoin experience.

As a Signer, Ryder will play a crucial role in facilitating the permissionless movement of BTC onto the Stacks Layer through its open network. Signers are responsible for validating Stacks blocks and processing transactions to ensure the network’s security and integrity. With Ryder’s participation and a total value locked (TVL) of 43 million STX, the network’s decentralization and resilience will be further strengthened.

Louise Ivan, CEO at Ryder, expressed the company’s commitment to enhancing user experience and security within the Stacks ecosystem through this partnership. By integrating FAST Pool into Ryder’s offerings, the goal is to improve usability and accessibility for users while providing an additional layer of security on top of the unique security properties of the Stacks layer. This collaboration is seen as a pivotal moment in the evolution of Bitcoin, making it more accessible to a wider audience.

This integration marks a significant milestone for Ryder and the broader Stacks community, as it reinforces the security and decentralization of the Bitcoin layer-2. By empowering users to participate in network validation and facilitating seamless BTC-to-sBTC transfers, Ryder is empowering individuals to take control of their digital assets and contribute to the future of Bitcoin.

See also  Best Multisig Crypto Wallets in 2024: Secure your Crypto

It is important to note that this content is provided by a third party, and crypto.news does not endorse any specific products mentioned. Users are advised to conduct their own research before making any decisions related to the company.

FAST Nakamoto operate Pool Ryder signer Stacks upgrade
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