On June 22, the Stacks Nakamoto core development team revealed that Nakamoto's development work is 90% complete, and the team is making final preparations for the official launch on July 15. It is reported that the Stacks project started in 2013 and is the first Layer2 project on Bitcoin. However, based on the Bitcoin UTXO transaction model, Stacks transactions are inefficient and cannot meet the rapidly growing needs of the Bitcoin Layer2 ecosystem. The Stacks Nakamoto upgrade will be able to achieve a transaction speed of about 5-10 seconds, which is about 100 times faster than the current transaction speed.