Stacks (STX) is currently priced at $0.6597**, with a **24-hour trading volume of $22.16 million. The circulating supply stands at 1.53 billion STX, with a maximum cap of 1.82 billion tokens.
What Is Stacks (STX)?
Stacks is an open-source Layer-1 blockchain that enhances Bitcoin’s functionality by enabling decentralized applications (dApps) and smart contracts. The native cryptocurrency, STX, powers the network, facilitating transactions, governance, and rewards.
Key Features:
- Bitcoin Integration: Leverages Bitcoin’s security without modifying its core protocol.
- User Ownership: Empowers users to control their data via blockchain-based IDs.
- Smart Contracts: Brings programmable agreements to the Bitcoin ecosystem.
History of Stacks
Origins and Evolution
- 2017: Launched as Blockstack with a whitepaper addressing Bitcoin’s scalability.
- 2019: Conducted the first SEC-approved token offering, raising $52.8 million.
- 2020: Rebranded to Stacks and introduced Stacks 2.0, featuring major technological upgrades.
Major Milestones:
- Genesis Block: Launched with 1.3 billion STX pre-minted.
- Institutional Backers: Includes Y Combinator, zkCapital, and Version One Ventures.
How Stacks Works
Core Technology
Proof-of-Transfer (PoX):
- Miners commit BTC to validate STX transactions.
- Stackers (holders) earn BTC rewards by participating in consensus.
Bitcoin Anchoring:
- Each Stacks block is settled on Bitcoin’s blockchain for finality.
👉 Explore Stacks’ official documentation for technical details.
Use Cases of STX Token
Primary Functions:
- Transaction Fees: Powers operations on the Stacks network.
- Stacking: Stake STX to earn BTC rewards.
- Asset Registration: Secures digital IDs and smart contracts on-chain.
Example:
Users farm Bitcoin by locking STX in the PoX mechanism—a unique hybrid of staking and mining.
FAQs About Stacks (STX)
1. How does Stacks differ from other Bitcoin Layer-2 solutions?
Stacks enables full smart contracts without modifying Bitcoin, unlike sidechains or rollups.
2. Is STX a good investment?
While volatile, STX offers utility via BTC rewards and dApp growth potential.
3. How do I earn BTC with STX?
By Stacking tokens in a supported wallet or platform like Hiro Wallet.
👉 Start Stacking today to maximize rewards.
Future Outlook
Stacks continues to expand Bitcoin’s utility with developer tools like Clarity smart contracts. Its PoX model and BTC rewards position it uniquely in the crypto ecosystem.
Final Thought:
For those seeking Bitcoin-centric DeFi, Stacks offers a compelling, security-focused platform.
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