Fireblocks to integrate Stacks for institutional-grade Bitcoin DeFi
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The Bitcoin network has an average block time of about 10 minutes, which creates a challenge for decentralized finance applications.
Fireblocks, an institutional-grade crypto infrastructure company, announced on Wednesday that it will integrate Stacks, a decentralized finance (DeFi) layer for the Bitcoin protocol, to give institutional clients access to lending and yield-bearing opportunities.
The integration bypasses the 10-minute Bitcoin block time by leveraging the Stacks blockchain, which has an average block time of about 29 seconds, a Stacks spokesperson told Cointelegraph.
All Stacks transactions settle to the Bitcoin ledger for finality. Removing the 10-minute BTC block time barrier resolves one of the most common objections for financial institutions looking to use BTC-based DeFi applications, the Stacks spokesperson said.
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