Stacks (STX)
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. 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. For more information about buying cryptocurrencies with fiat, click here.
What tools does Nimbus offer for effortlessly monitoring Stacks?
Nimbus provides a user-friendly tracking solution equipped with intuitive tools to monitor Stacks effortlessly. These tools are specifically designed for user convenience, allowing individuals to stay seamlessly updated on the latest trends, prices, and information related to Stacks. Users can also explore the world of cryptocurrency effortlessly while simultaneously tracking Stacks prices. The platform also offers insights into profit and loss, providing a comprehensive experience without the complexity typically associated with monitoring cryptocurrencies.
How does Nimbus enable tracking Stacks prices with profit and loss?
Nimbus facilitates the tracking of Stacks prices with profit and loss through seamless integration with your crypto wallet for portfolio monitoring. By connecting with your crypto wallet, Nimbus provides a clear and comprehensive overview of various metrics, including profits, losses, revenue, expenses, return on investment (ROI), and other essential financial indicators. This integration ensures that users can analyze their cryptocurrency portfolio with precision, gaining valuable insights into their financial performance. With Nimbus, users can navigate the cryptocurrency landscape with a perfect blend of simplicity and sophistication, enhancing their ability to make informed investment decisions.
How does Nimbus analyze Stacks, and what insights does it provide?
Certainly! Nimbus possesses a robust analysis tool that is adept at evaluating and interpreting Stacks . The tool employs diverse strategies, including delving into metadata details, tracking marketplace data, and calculating performance metrics such as Return on Investment (ROI). Through these methodologies, Nimbus provides users with valuable insights into the composition and performance of their Stacks. Users can gain a comprehensive understanding of their investment. The analysis tool ensures that users are equipped with the necessary information to navigate the cryptocurrency landscape with confidence and intelligence.
Trending News
Crypto Prices Today May 14: Bitcoin Crosses $62K, Ethereum & Altcoins Mirror Sentiment
The top crypto prices today witnessed a rebound as the Bitcoin (BTC) price extended above the $62,000 mark. Moreover, the Ethereum (ETH) gained notably and sustained the $2,900 level. In addition, other top altcoins, such as Solana (SOL), XRP, Cardano (ADA) also noted a significant uptick. Major Crypto Prices Today 1. Bitcoin Price The Bitcoin
CoinGape
May 14, 2024
Rapid Rise: Tether (USDT) and TON Crystal (TON) Reach $200M Circulation in Record Time
Before you reading,Don't miss coins like PEPE again! Click here to find new PEPEs! USDt-TON, a product of the partnership between Tether and TON Foundation, has reached a circulation of $200 million in record time, indicating a high demand within the TON ecosystem. The TON network has also surpassed $200 million in Total Value Locked […] Read more at COINOTAG.
CoinOtag EN
May 14, 2024
Binance Invests in New Bitcoin Project: A Strategic Move in Crypto Market (BTC)
Before you reading,Don't miss coins like PEPE again! Click here to find new PEPEs! Binance Labs, the investment arm of the world’s largest crypto exchange Binance, has invested in Zest Protocol. Zest Protocol has raised $3.5 million in seed investment from several investors, including Binance Labs and Draper Associates. Zest Protocol enables users to lend […] Read more at COINOTAG.
CoinOtag EN
May 14, 2024
Coinbase Faces System Wide Outage, Affirms Funds Are Safe
Coinbase, one of the largest U.S.-based cryptocurrency exchanges, reported a system-wide outage in its services, affecting customers’ crypto operations. On its status site, Coinbase stated that it was aware that “some users may experience failures when sending crypto or withdrawing fiat,” and declared it was working to fix this issue. Later, the exchange recognized experiencing […]
Bitcoin.com
May 14, 2024
Ripple (XRP) Seeks to Conceal Crucial Documents Amid Ongoing SEC Legal Clash: Latest Updates
Before you reading,Don't miss coins like PEPE again! Click here to find new PEPEs! The ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) takes a new turn as Ripple moves to seal key documents. This move is seen as a strategic decision by Ripple to protect its interests. “Ripple’s move […] Read more at COINOTAG.
CoinOtag EN
May 14, 2024
STX Market Statistics
Price USD
$2.00Market Cap
$2,924,949,893.99Total Volume USD
$118,083,197.29Total Supply
1,818,000,000.00 STXCirculating Supply
1,459,713,951.66 STXFully Diluted Market Cap
$3,642,877,360.48Socials
Official links
Join us to Maximize your Returns & Minimize your Risk
Gain access to all exclusive data, insight that can make your investment more joy
