Stacks harmonizes Bitcoin with smart contracts using PoX, pioneering a groundbreaking layer-2 solution. More
| Fully Diluted Valuation | $1.18B |
|---|---|
| 24H Trading Volume | $23.43M |
| 24H Low / High | $0.65 / $ 0.68 |
| Circulating Supply | 1.79 B |
| Total Supply | 1.79 B |
| Max Supply | ∞ |
| Categories | Infrastructure 11 more |
|---|---|
| Founder | Muneeb Ali 1 more |
| Website | stacks.co Whitepaper |
| Socials | 5 more |
| Explorer | Stacks 1 more |
| Name | Pair | OG Score |
|---|
Stacks (STX): Empowering Decentralized Applications on Bitcoin
Launched in 2019, Stacks (STX) stands as a pivotal platform ushering smart contracts and decentralized applications (dApps) onto the Bitcoin network, leveraging its security and transaction settlement capabilities. The Stacks Foundation, dedicated to advancing the Bitcoin economy, focuses on research, education, and governance. This commitment reflects in various programs, including grants for open-source tech, community initiatives, and educational endeavors. Stacks Foundation fosters decentralized decision-making, aiming for a more equitable and open internet.
At the core of Stacks lies its unique approach: the Proof-of-Transfer (PoX) consensus mechanism. This innovative mechanism incorporates the high security of Proof-of-Work (PoW) with the scalability of Proof-of-Stake (PoS). It involves miners bidding BTC to write blocks on the Stacks blockchain, earning STX rewards and transaction fees. Meanwhile, stackers lock STX to receive BTC from miners, creating a cycle that removes the need for cryptocurrency burning.
Stacks' uniqueness stems from its integration with Bitcoin. Leveraging Bitcoin’s security and vast capital, it offers security and rewards to participants. Notably, Stacks independently scales from Bitcoin, providing low costs and swift transactions. Furthermore, it prioritizes user privacy by encrypting data within apps and ensuring 100% user ownership of their data.
The platform utilizes the Clarity programming language for smart contracts, allowing the creation of diverse digital assets like tokens and collectibles. Stacks’ innovation lies in its ability to read the entire Bitcoin state, facilitating secure and decentralized interactions with the Bitcoin blockchain. Stacks is poised as an ideal platform for decentralized apps, utilizing the robustness and trustlessness of Bitcoin to create a new paradigm of possibilities.
Stacks stands out for its integration with Bitcoin, utilizing a novel Proof-of-Transfer (PoX) consensus mechanism, amalgamating the security of Proof-of-Work (PoW) and scalability of Proof-of-Stake (PoS) to empower decentralized apps on the Bitcoin network.
Stacks (STX) was founded by Muneeb Ali and Ryan Shea. They designed the Stacks blockchain, aiming to enable smart contracts and dApps on the Bitcoin network.
Stacks has received support from various investors, including HashKey Capital, Union Square Ventures, SNZ Holding, Blockchain Capital, Y Combinator, Digital Currency Group (DCG), The Spartan Group, Fenbushi Capital and IOSG.
Stacks (STX) operates on a unique consensus mechanism called Proof-of-Transfer (PoX), allowing miners to bid BTC to write blocks on the Stacks blockchain while stackers lock STX to receive BTC from miners, removing the need for cryptocurrency burning.
You can buy Stacks (STX) on Binance, OKXBitgetGate.ioBybit cryptocurrency exchanges.
