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What is Stacks (STX)?

Stacks basic info

Name:Stacks

Ticker:

STXBuy now

Introduction:

What Is Stacks?

Stacks, once known as Blockstack, stands as an open-source layer-2 blockchain crafted to usher in decentralized applications (dApps) and smart contracts to Bitcoin. Ingeniously linking Stacks and Bitcoin as separate yet intertwined blockchains, the arrangement capitalizes on Bitcoin's unmatched security. The genesis of Stacks dates back to 2013, thanks to the combined efforts of co-founders Muneeb Ali and Ryan Shea. A pivotal rebranding in 2020 transitioned Blockstack into Stacks, reflecting its evolution.

Stacks aims to elevate the potential of the Bitcoin blockchain by championing the creation and roll-out of dApps and smart contracts right on Bitcoin. Unlike blockchains like Ethereum that build from the ground up, Stacks entwines itself with Bitcoin. This means every transaction on Stacks settles on the Bitcoin blockchain, granting an unparalleled degree of security and reliability.

Resources

Official Whitepaper: https://gaia.blockstack.org/hub/1AxyPunHHAHiEffXWESKfbvmBpGQv138Fp/stacks.pdf

Official Website: https://www.stacks.co/

How Does Stacks Work?

Delving into its mechanics, Stacks employs a distinct "proof of transfer" (PoX) consensus method. Stemming from the "proof of burn" concept, where cryptocurrency is burned to confirm transactions, PoX sees miners transferring their Bitcoin instead. The protocol randomly picks a victor from these miners to validate a Stacks transaction block, rewarding them with STX tokens. This eco-friendly method harnesses Bitcoin's proof-of-work system, paving the way for scalability.

Additionally, Stacks takes pride in its in-house smart contract language: Clarity. This language prioritizes security and predictability, enabling users to define transaction conditions, providing unmatched transactional autonomy.

What Is STX Token?

The STX token is the native cryptocurrency of the Stacks network. It plays a pivotal role in the ecosystem, being used for transaction fees and the deployment of smart contracts. One of the standout features of the STX token is its ability to be "stacked", allowing holders to earn Bitcoin rewards. This process involves locking up STX tokens, contributing to the PoX consensus, and in return, receiving a portion of the Bitcoin rewards transferred by Stacks miners.

Stacks's Impact on Finance

Stacks presents a transformative approach to the world of decentralized finance. By seamlessly integrating with Bitcoin, it offers enhanced privacy and security for creating applications and games. This eliminates the traditional reliance on centralized entities like banks for financial transactions. Moreover, the ability for STX holders to earn Bitcoin rewards introduces a novel method for individuals to generate passive income, further solidifying Stacks' position as a game-changer in the financial landscape.

What Determines Stacks's Price

In the dynamic world of cryptocurrency, the Stacks (STX) price today is influenced by a myriad of factors that enthusiasts and investors keenly observe. The STX token price is often swayed by broader movements in the cryptocurrency market, which can be analyzed through detailed STX price analysis. Investors seeking to make informed decisions often turn to resources offering a real-time Stacks (STX) price update, allowing them to gauge the current market sentiment.

Furthermore, the Stacks cryptocurrency price is closely tied to developments in the blockchain space, with advancements and updates on the Stacks blockchain price having a significant impact on the STX live price. As investors keep a close eye on the STX price USD and STX token market cap, they are also increasingly exploring the Stacks crypto price history to make informed predictions about future trends.

The Stacks (STX) price prediction 2023 is a hot topic of discussion in various forums and platforms. Experts and analysts scrutinize the STX price chart to forecast potential movements, offering insights into the Stacks (STX) future price. Moreover, the Stacks (STX) price forecast is often influenced by external factors such as regulatory news and macroeconomic developments, which can either spur a bullish trend or induce a bearish market sentiment.

In addition, the Stacks (STX) price prediction is also influenced by its performance against other major cryptocurrencies. Investors frequently check the STX/BTC pair and STX/ETH pair to understand its relative strength in the market. This data, coupled with Stacks (STX) news from reliable sources, helps in crafting a comprehensive picture of where the token might be headed.

Furthermore, potential investors looking to buy Stacks (STX) are always on the lookout for platforms offering the most competitive rates, thereby influencing the demand and, consequently, the price of the token.

To maximize their investment returns, enthusiasts often delve deep into the Stacks (STX) token value and Stacks (STX) ROI. These metrics, along with a thorough analysis of market trends, assist investors in making well-informed decisions. As the cryptocurrency landscape continues to evolve, staying abreast of the latest developments and trends is crucial for anyone looking to capitalize on the opportunities presented in this vibrant market. Therefore, whether you are a seasoned investor or a newcomer, keeping updated with the latest information is key to navigating the complex and ever-changing world of cryptocurrency investments.

Current price:

$2.11More price details

All-time high:$3.84

All-time low:$0.04501

STX supply and tokenomics

Circulating supply:1,502,007,300 STX

Total supply:1,502,007,316.01 STX

Max supply:1,818,000,000 STX

Market cap:$3.16B

Fully diluted market cap:$3.83B

Token allocation:

2017 token sales

29.20%

Others

17.80%

Hiro PBC Treasury

14.20%

2019 token sales

8.90%

Equity investor distribution

8.00%

Team

7.90%

Stacks Foundation Treasury

7.40%

Liberated Software LLC

6.60%

Tokenomics:

Uniqueness

As a Bitcoin layer for smart contracts, Stacks has the following innovations that make it unique:

1. In the upcoming release of Stacks, Stacks will be secured by the entire hash power of Bitcoin, giving it Bitcoin finality.

2. 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.

3. The new 1:1 Bitcoin backed asset called sBTC enables Stacks smart contracts to write to Bitcoin.

4. Stacks powers atomic BTC swaps and assets owned by BTC addresses.

5. Stacks uses the Clarity programming language for safe, decidable contracts.

6. Stacks has knowledge of the full Bitcoin state, thanks to Proof of Transfer and Clarity, enabling it to read from Bitcoin at any time.

7. Lastly, Stacks is a scalable layer that enables fast transactions that settle on Bitcoin.

Links

Website:https://stacks.co

Whitepaper:https://gaia.blockstack.org/hub/1AxyPunHHAHiEffXWESKfbvmBpGQv138Fp/stacks.pdf

X:https://twitter.com/Stacks

GitHub:https://github.com/stacks-network

Buy Stacks for $1Buy STX now

What is the development prospect and future value of STX?

The market value of STX currently stands at $3.16B, and its market ranking is #42. The value of STX is widely recognized by the market. When the bull market comes, the market value of STX will likely continue to increase.

Moreover, if STX can play a greater role in practical applications, such as Stacks builders fully leveraging the potential of STX, partnering with more businesses, and increasing its user base, the long-term value of STX will be significantly enhanced.

What will the price of STX be in 2025?

Based on STX's historical price performance prediction model, the price of STX is projected to reach $2.55 in 2025.

What will the price of STX be in 2030?

In 2030, the STX price is expected to change by +2.00%. By the end of 2030, the STX price is projected to reach $5.01, with a cumulative ROI of +158.06%.

Reminder: Just like all cryptocurrency investments, investors must closely monitor the market performance of STX and be aware of the associated risks. The world of cryptocurrencies is full of uncertainties, so thorough research and preparation are essential.

STX price STX price prediction STX news

Is STX worth investing or holding? How to buy STX from a crypto exchange?

If you want to buy STX, the following information may be helpful for your investment decisions:

In the last seven days, the price of STX has risen by 8.27%, leading to positive returns for most STX investors. The market is currently optimistic about the price trend of STX.

It is important to note that the current price of STX has retreated by -45.17% from its all-time high. This coin is currently considered medium-risk, and its price may rebound or continue to fall.

Additionally, it's important to understand that each coin has its own optimal times for buying and selling. The optimal time to invest is dynamic: when a coin is undervalued, it's wise to adopt a buying strategy; when it becomes overvalued, you should decisively sell the coin.

To decide whether STX is worth investing in, you need to consider various market factors such as the overall trend of the cryptocurrency market, the project's fundamentals, its current market valuation, and whether the current price is suitable for buying. If the project's fundamentals suddenly change or the price becomes excessively high, you should adjust your investment strategy and trading operations accordingly.

Your investment decisions should be based on your own risk tolerance, financial status, market analysis and research, especially the timing of your investments. Correct timing can ensure more reliable returns. Keep in mind that investing in STX or any cryptocurrency comes with certain risks and uncertainties.

Regardless of your outlook on the development prospects and future trends of STX, if you want to buy or sell STX, you can consider Bitget for your trading needs. The best place to buy STX is an exchange that offers hassle-free and secure transactions, combined with a user-friendly interface and high liquidity. Every day, millions of users choose Bitget as their trusted platform for crypto purchases.

Investing in Stacks has never been easier. Simply sign up on Bitget, complete the identity verification process, and make payments using bank transfers, debit cards, or credit cards, all while ensuring security through crypto wallets. This is a widely adopted method to buy Stacks. Here's a step-by-step guide on how to buy Stacks on Bitget.

Buy STX now Coin buying guide

How to get Stacks through other methods？

Using cash to buy Stacks is not the only way to obtain Stacks. If you have the time to spare, you can get Stacks for free.

Learn how to earn Stacks for free through the Learn2Earn promotion.

Earn free Stacks by inviting friends to join Bitget's Assist2Earn promotion.

Receive free Stacks airdrops by joining ongoing challenges and promotions.

All crypto airdrops and rewards can be converted to Stacks through Bitget Convert, Bitget Swap, or spot trading.

What is Stacks used for and how to use Stacks?

The use case of Stacks may expand as the crypto market and the project itself develop. Currently, you can use STX to achieve the following goals:

Arbitrage by trading STX: Since STX is a frequently traded cryptocurrency, the price of STX is always fluctuating. Earn more STX by buying low and selling high on the exchange. Bitget spot market provides a variety of STX trading pairs to fully meet your needs.

Earn by staking STX: You can also generate income through financial management methods such as staking STX or lending STX. Bitget Earn offers a variety of financial products designed to help you earn more income from your STX.

Send or pay STX: If you want to give STX to your friends, a charity, or a fundraiser, or you want to pay someone with STX, you can quickly and easily send STX to the recipient through their payment address.

You can also go to the official website of the Stacks project to learn more about the use cases of STX. For example, find out if the project supports the use of within its community or ecology, or if the project allows you to purchase physical or virtual products in .

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