Blockchain software company Blockstack PBC has announced that it will change its name to Hiro Systems PBC.
Munib Ali, co-founder and CEO of Blockstack, told Cointelegraph that the team plans to focus on a narrower set of priorities after the launch of the Stacks 2.0 main – something they believe could reveal “enormous value and potential.” :
“We want to limit our focus to building developer tools that build applications and smart contracts in bitcoin. This is possible due to the fact that the ecosystem around Stacks has matured (…) With core features that other organizations take care of, you no longer need PBCs. Spend most of the time developing an ecosystem or public infrastructure level (blockchain). ”
In an earlier interview, Ali said that the best way to create a user-owned Internet “is to connect applications and smart contracts to the Bitcoin network so that Bitcoin is used as a reserve currency and the powerful blockchain is used as a security mechanism.”
In June, Algorand and Blockstack launched an open source joint venture to support the development of a smart contract language called Clarity. Both companies said that today’s smart contract language is neither secure nor predictable enough to meet the growing needs of an emerging industry.