September 27, 2022

Bitcoin is called the ideal layer for building applications

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Hiro CEO Alex Miller said in an interview with Cointelegraph that the programmability of Bitcoin (BTC) can further the adoption of this asset as a technical and financial tool in today’s society. According to the expert, this may be a prerequisite for the growth of the value of the virtual coin in the long term.

The entrepreneur emphasized that although the Bitcoin network is not programmable, it can serve as an excellent upper settlement layer for building reliable applications on top of it. Miller’s company provides developer tools that can use the Stacks blockchain. According to the head of the organization, this product inherits the security of the flagship cryptocurrency by using a consensus algorithm called proof of transfer.

Miller assured that the value of programs built on top of Bitcoin lies in the fact that they provide a well-regulated, accepted and understood, as well as a very reliable level of settlement. In his opinion, it is much easier to create products based on the BTC network than using smart contract platforms.

Miller emphasized that the Stacks developer ecosystem has grown very rapidly since 2021, the year the startup was launched. During the first year, the milestone of more than 350 million API requests monthly was reached, the Hiro wallet was downloaded 40 thousand times, and 2.5 thousand Clarity smart contracts were deployed. These indicators should grow significantly by the end of the current year.

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