Stacks (STX) is a blockchain project that aims to bring smart contracts and decentralized applications (Dapps) to Bitcoin. Thanks to Stacks, a parallel blockchain with the Bitcoin blockchain is being created and new features become available. Stacks opens up new possibilities by earning BTC using a different blockchain than the Bitcoin blockchain. The Stacks system, which is based on bitcoin transactions, attracts attention with its unique style of work. Let’s take a look at the history of Stacks together.
Stacks started in 2013 and has made improvements to make the Internet a better place. Two Princeton alumni, Ryan Shea and Munib Ali, have joined their teams and began researching blockchains. As it became known about the project, the number of developers has increased. Today Stacks has developers from all over the world. The project is owned by Hiro Systhems PBC and is controlled by the Stack Open Foundation. Meltem Demirors, a well-known name in the cryptocurrency world, has also joined the Stacks Foundation in recent months.
Stacks and blockchain.
Blockchain has become the second major revolution since the advent of the Internet for the benefit of the Internet. New business models and the emergence of digital values have changed our world. The Bitcoin blockchain is also the oldest blockchain and cannot be changed by a single administrator. At the same time, the blockchain can contain smart contracts and decentralized applications. Ethereum has smart contracts and decentralized applications, and Stacks is committed to bringing these benefits to Bitcoin as well.
The Stacks’ biggest thesis is based on the fact that the protocol war led to a merger, just like in the early years of the Internet. In the early years of the Internet, many protocols were created, but over time, TCP / IP was used in combination. Stack developers also think that many protocols in the cryptocurrency universe will eventually merge under one roof. They are confident that this structure will also be Bitcoin, because Bitcoin is the most popular and most secure blockchain.
What is the purpose of STX?
STX tokens are the basic unit used in the Stacks blockchain. Holders of STX tokens can earn BTC with their tokens in a variety of ways including stx to btc exchange. STX can be used to host, run, or maintain nodes. With this method, users earn BTC at the end of 2 weeks according to their STX amount.
The method used by Stacks is very similar to the method of confirming winnings (as in Tezos, Cardano). However, they differ in important points. Proof-of-Stake systems sometimes experience interruptions and take a long time to process. Some of the profits are spent on expenses, which naturally creates sales pressure. In Stacks, on the other hand, tokens do not leave the user’s wallet. No special equipment is required to join the Stacks system, users only need an STX wallet. Finally, rewards are paid in BTC while STX is used to generate income, so there is no selling pressure on STX.
Where to buy STX.
This feature made the STX go down in US history. In the first block, 1.3 billion STX were minted, according to the plan, the total supply will amount to no more than 1.818 billion STX. The first tokens issued were split between the founders, early investors, and their employees. The STX price has performed well in 2021, but the long-term value of STX depends on the development of the ecosystem and its network. STX can be purchased on exchanges such as:
- Binance;
- KuCoin;
- OKex