What is Stacks (STX) Coin
Stacks is a layer-1 blockchain solution that is designed to bring smart contracts and decentralized applications (DApps) to Bitcoin (BTC). These smart contracts are brought to Bitcoin without changing any of the features that make it so powerful — including its security and stability.
These DApps are open and modular, meaning developers can build on top of each other’s apps to produce features that are simply not possible in a regular app. Since Stacks uses Bitcoin as a base layer, everything that happens on the network is settled on the most widely used arguably the most secure blockchain in operation — Bitcoin.
The platform is powered by the Stacks token (STX), which is used for fueling the execution of smart contracts, processing transactions and registering new digital assets on the Stacks 2.0 blockchain. The platform was formerly known as Blockstack, but was rebranded to Stacks in Q4 2020 in order to “separate the ecosystem and open source project from Blockstack PBC” — the company that built the original protocols.
The mainnet for Stacks 2.0 launched in January 2021.
- Stacks (formerly Blockstack) seeks to power a new kind of decentralized internet, one that gives users more control over their data and makes it harder for content to be censored.
- It has properties such as built-in Privacy, where data in Stacks apps, such as photos, messages, health records, are encrypted by default. Apps will not be able to see, access, or track your activity. All data is owned to 100% by the user instead of the apps. Furthermore, users are free to move their data and to trade and transfer your assets — no permission from any app or company required.
- Stacks’s smart contracts, based on their programming language Clarity, enable new kinds of digital assets, such as tokens and digital collectibles, to be created, owned, and traded. By using Stacks apps, creators can also have a share of the value that they help create.
- Stacks uses a hybrid consensus mechanism, which Stacks calls Proof-of-Transfer (“PoX”).
- Besides regularly storing a hash of the Stacks blockchain on Bitcoin’s, many of the node participants in the blockchain will receive rewards in BTC, a more reliable source of value than rewards in a Stacks’ native token, STX.
- PoX uses miners and stackers. Miners log transactions, much as miners on the Bitcoin or Ethereum blockchains do, while stackers keep a copy of the blockchain, signaling which fork to mine on. Miners earn new STX from inflation and they pay to participate in BTC. That BTC gets distributed to stackers who have to stake STX.
How To Buy Stacks (STX) Coin
1.Step: Everyone who is planning to invest in or benefit from the advantages of cryptocurrencies wonders the answer to Where to buy Stacks coin question. First, you need an online wallet to buy cryptocurrencies. You need to sign up to Binance exchange from here, which is preferred globally to buy coins and you can buy coins with fiat currencies. You can quickly access many assets and trade types such as altcoins, future markets, and margin by creating a Binance account.
2.Step: Complete your registration by typing an email to the email section or typing your phone number on the section available on the mobile tab. Click/tap on the “Buy Crypto with Your Credit Card” option after the registration and verify your identity.
3.Step: Continue the process by typing the amount you would like to invest and your preferred cryptocurrency. Keep in mind that for security reasons, your credit card/debit cardholder information must match with the name available on your account. If you would like to buy cryptocurrencies with a wire transfer, you need to follow the Buy Crypto > Third-Party Payment options to pick your preferred fiat currency to buy cryptocurrencies.
4.Step: If the cryptocurrency you are planning to buy is not available on the list, buy USDT “You can always redeem 1 USDT Coin for US $1.00”. You can buy any coin you want with USDT by following Buy-Sell > Classic steps. We have provided the answer to How to buy Stx coin, now you can view the cryptocurrencies you bought by clicking on the wallet summary available on your Binance account. You can sell your assets when their value increases, or you can withdraw them to your bank account in desired fiat currency.
How Much is a Stacks (STX) Coin
Stacks (STX) coin prices are updated instantly in USD, Euro, Sterling currencies in the following table.
Stacks (STX) Coin Review
You can learn more about Stacks (STX) coin reviews and information on cryptocurrencies by visiting their official page available in the following.
Website https://stacks2.com/ Whitepaper https://stacks.org/stacks Github https://github.com/blockstack/ Documentation http://docs.stacks.co/ Telegram https://t.me/BlockstackChat Discord https://discord.gg/YWa8BmKqvR Youtube https://www.youtube.com/c/Blockstack/videos