What Is Stacks (STX)?
Stacks is a Bitcoin Layer for smart contracts; it enables smart contracts and decentralized applications to use Bitcoin as an asset and settle transactions on the Bitcoin blockchain. Stacks (STX) is a cryptocurrency project designed to enhance the Bitcoin blockchain by enabling smart contracts and decentralized applications (dApps). Originally launched in 2017 under the name Blockstack, it allows users to have full ownership and control of their personal data. As of now, the live price of Stacks is about $2.00 USD, with a trading volume of approximately $377.6 million over the last 24 hours. The market value of STX can fluctuate, so it’s advisable to double-check the latest information for accuracy.
Bitcoin is the largest, most valuable, and most durable decentralized asset. The Stacks layer unlocks $500B in BTC capital using the Bitcoin L1 as settlement for decentralized applications.
Stacks has knowledge of the full Bitcoin state, thanks to its Proof of Transfer consensus and Clarity language, enabling it to read from Bitcoin at any time.
All transactions on the Stacks layer are automatically hashed and settled on the Bitcoin L1. Stacks blocks are secured by 100% Bitcoin hashpower. In order to re-order Stacks blocks/transactions, an attacker would have to reorg Bitcoin.
Who Are the Founders of Stacks?
The project started in 2017 when Muneeb finished his PhD (his thesis laid out the foundations for the Stacks layer for Bitcoin), released the original whitepaper, and raised $50M. Before this, the early team built protocols and apps on Bitcoin L1 before they began working on Stacks in 2017. Some early visions of the project are represented in this TEDx talk.
In 2019 there was the first-ever SEC qualified token offering (see WSJ article) for the general public, including the US. The full offering material disclosed everything and anything about the project/company/people.
2018-2020 the team was heads down building out the Stacks infrastructure— it’s a programming layer for Bitcoin (it works like a blockchain with cross-chain consensus with Bitcoin) and Clarity lang, a safe language. Some technical resources are here.
What Makes Stacks Unique?
As a Bitcoin layer for smart contracts, Stacks has the following innovations that make it unique:
In the upcoming release of Stacks, Stacks will be secured by the entire hash power of Bitcoin, giving it Bitcoin finality.
Stacks will soon have a novel backed Bitcoin that is 1:1 backed with BTC on Bitcoin L1, and can be moved in and out of the Stacks layer in a decentralized way.
The new 1:1 Bitcoin backed asset called sBTC enables Stacks smart contracts to write to Bitcoin.
Stacks powers atomic BTC swaps and assets owned by BTC addresses.
Stacks uses the Clarity programming language for safe, decidable contracts.
Stacks has knowledge of the full Bitcoin state, thanks to Proof of Transfer and Clarity, enabling it to read from Bitcoin at any time.
Lastly, Stacks is a scalable layer that enables fast transactions that settle on Bitcoin.
How Many Stacks (STX) Coins Are There in Circulation?
The Stacks cryptocurrency has a predefined future supply that reaches approx 1,818M STX by year 2050. The Stacks ecosystem is a collection of independent entities, developers, and community members working to build a user-owned internet on Bitcoin. No entity in the space holds >10% of the circulating STX supply. Even the early investors/entities generally hold less than 5%. These stats are self-reported and from on-chain data and naturally update over time.
How Is the Stacks Network Secured?
Stacks uses the Bitcoin blockchain as its base layer. As a Proof of Work (PoW)-based blockchain, Bitcoin uses the combined efforts of thousands of miners and nodes to protect the network against attacks by making it computationally and economically unfeasible to subvert the network.
On top of this, Stacks introduces its own consensus model, known as proof-of-transfer (PoX), which is a novel mining mechanism that sees users transfer the base currency (BTC) to mine STX — effectively bootstrapping the security of the Stacks blockchain using BTC.
Where Can You Buy Stacks (STX)?
STX is available to trade on several prominent exchange platforms, including Binance,Coinbase, Kraken, Upbit, and KuCoin. For a full list of available trading pairs and supported platforms, see the markets section.
What is stack stx crypto?
What Is Stacks (STX) Coin? Stacks token (STX) is the cryptocurrency of the decentralized computing platform Blockstack. Blockstack is a project that utilizes blockchain technology to expand the functionalities of bitcoin by serving as a second layer protocol.
Is stx coin a good investment?
In November 2021, the market grew and, again, STX was caught up in it, reaching an all-time high of $3.61 on 16 November 2021 before falling back down to close the year at $2.17. If 2021 represented growth, 2022 has represented decline for the stacks coin.
Does stx have a future?
Daily Stacks (STX) Price Prediction For Today, Tomorrow, this Week, and Next 30 Days. Based on your price prediction input for Stacks, the value of STX is projected to increase by 5%, potentially reaching $ 2.345291 by the end of this week.
How does stx make money?
The platform is uniquely positioned to attract developers and users interested in leveraging Bitcoin’s security while tapping into decentralized applications and smart contracts. One significant advantage is that STX holders can earn Bitcoin rewards through stacking, creating passive income opportunities.
How high could STX go?
Stacks Price Prediction 2030
According to our analysts, STX predictions for 2030 could range between $6.35 to $13.93 and the average price of Stacks could be around $10.14.
Is STX a good stock?
STX also boasts an average earnings surprise of 85.1%. STX should be on investors’ short list because of its impressive earnings fundamentals, a good Zacks Rank, and strong Momentum and VGM Style Scores.
How many STX coins are there?
STX has a circulating supply of 1.51B coins and a max supply of 1.51B STX.
How to invest in STX?
Where & How to Buy Stacks (STX) Guide
