![]() The business model of Stacks is very clear, and the goal is to be a blockchain browser where users can create basic Todo applications themselves as well as build single-page JavaScript applications. Stacks is the "Google" of blockchain, where the architecture is divided into three layers: the bottom layer of the blockchain - the peer-to-peer network - the data layer. Users own their own data, and a browser is all they need to get started. Stacks is a new internet of decentralized applications, equipped with a full suite of open source development tools to build and bootstrap a decentralized ecosystem of applications and protocols. What are the Applications of Stacks (STX)? On top of that, Stacks was the first cryptocurrency to qualify for an SEC sale in the U.S., enabling it to launch a $28 million Reg A+ sale cash product for its STX token in July 2019. This smart contract-centric programming language is also used by the Algorand (ALGO) blockchain. Stacks introduces a new smart contract programming language called Clarity, which is designed to be both secure and easy to build thanks to its explicit syntax. Additionally, STX token holders can also stack (rather than stake) their tokens to earn Bitcoin as a reward. It connects directly to the Bitcoin blockchain through its Proof of Transfer (PoX) consensus mechanism, which lets miners pay BTC to mint new Stacks (STX) tokens. Stacks hopes to extend Bitcoin's functionality with additional features without forking or changing the original Bitcoin blockchain. Stacks 2.0’s mainnet launch in January 2021. The platform was formerly known as Blockstack, but changed its name to Stacks in Q4 2020 to "separate the ecosystem and open source projects from Blockstack PBC" - the original protocol the company built. The platform is powered by the Stacks Token (STX), which is used to power the execution of smart contracts, process transactions and register new digital assets on the Stacks 2.0 blockchain. ![]() Because Stacks uses Bitcoin as the base layer, everything that happens on the network is resolved on the most widely used and relatively secure blockchain, Bitcoin. ![]() These DApps are open and modular, meaning that developers can build on top of each other's apps to generate functionality that is simply not possible in regular apps. With PoX there is no need to modify Bitcoin to enable smart contracts and apps around it. Leader election happens at the Bitcoin blockchain and STX miners write new blocks on the connected Stacks blockchain. Stacks 2.0 implements PoX mining that anchors to Bitcoin security. Stacks 2.0 is a layer-1 blockchain that connects to Bitcoin for security and enables decentralized apps and predictable smart contracts. Stacks are also used for other network functions like registering digital assets, paying for transaction fees, and to publish Clarity contracts on the blockchain. Stacks cryptocurrency (STX) is designed primarily to be used as "fuel" to execute Clarity smart contracts. Here are some of the most popular and useful Stacks (STX) blockchain explorers out there: In order to search for real-time and historical information about Stacks (STX) blockchain, including data related to blocks, transactions, addresses, and more, you may use Stacks (STX) block explorers. It has a circulating supply of 1.37Bil STX coins and a max supply of 1.82Bil. ![]() STX price is down -4.84% in the last 24 hours. Never invest more money than you can afford to lose.Stacks price today is $0.5885 with a 24-hour trading volume of $25,495,045. Consult a professional before investing money on the blockchain. For more information about the risks of virtual currency, see the CFTC’s Customer Advisory, the CFPB’s Consumer Advisory, the SEC’s Investor Alert, and FINRA’s Investor Alert.ġPassive income derived from decentralized finance activities such as staking and liquidity farming carries with it additional risks which could include permanent loss of funds. Cryptoassets are not covered by either FDIC or SIPC insurance. Giddy provides information from 3rd parties and blockchain networks, and does not guarantee this information is correct, complete, or updated. All cryptoassets involve a significant degree of risk, including the possibility of high volatility or permanent loss. No communication from Giddy is intended to imply financial advice, nor that any cryptoasset is low-risk. Giddy does not provide financial, investment, tax, or legal advice. DBA Giddy, is registered with FinCEN as a Money Services Business (MSB), registration number 31000214426385.ĭISCLAIMER: Giddy is not a custodian of cryptoassets and does not provide a guarantee of protection you are responsible for the safekeeping of your cryptoasset private keys.
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