Stacks add smart contract functionality and privacy to BTC without alternating the blockchain. Stacks even use BTC as the reserve currency of its own native Stacks STX coin. Even though it has a blockchain, it depends on the Bitcoin blockchain for security and transaction settlement. In the crypto community, Stacks is growing its name. Currently, stacks have tens of thousands of active users and have clocked over a million buyers in its ecosystem. Stacks focuses on developing a platform where privacy can be preserved with only the buyer controlling their data. Stacks can be considered the application layer of the Internet, which is currently being operated by companies like Google and Facebook. Stacks intends to be the decentralized computing platform for the next generation of the Internet.
Stacks intends to use it for developing its smart contracts ecosystem for a decentralized Internet. In addition, it addresses the issues of privacy and security. Since Bitcoin has been widely used, it is one of the most secure crypto networks. Stacks is a layer one blockchain solution that addresses smart contract and decentralized applications development using the BTC cryptocurrency. The idea of using Bitcoin’s privacy and security to accommodate its operations is arguably one of the very bold moves in developing an ecosystem using BTC. That being said, Stacks has considerable potential, and it cannot be denied. Currently, STX coin and Blockstack PBC hold a huge potential in the cryptocurrency market with a bullish trend because they prove their intention and realize a decentralized internet.Īs smart contracts and dApps continue to grow on Bitcoin’s network, the STX tokens will be jumping to new heights in the coming days, with some even arguing a 100x move in a year. After facing the heat of industry-wide profit booking, STX has once again reached close to the previous highs. Stacks raised from $0.47 to $2.90 within the first few months of 2021. Finally, a $50 million token sale in 2019 ICO brought this futuristic crypto to the public, allowing them to buy and hold the Stacks STX coin.Īfter being renamed in 2020, STX Network created a unique identity for itself and subsequently resulting in a massive spike in its valuations.
Stacks crypto series#
Then, a series of peer-reviewed research publications were released in 2016, which brought in even more funding, and Blockstack ended up raising over $4 million between 20. After being founded in Princeton, developers roped in some seed funding to further work on their project.
Stacks crypto software#
Blockstacks has been under development for a long time, which roughly started in 2013 with another co-founder named Ryan Shea, a former software engineer. in Computer Science at Princeton University. The idea for Blockstacks was laid in the doctoral thesis of its co-founder Muneeb Ali who completed his Ph.D.
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