What is Stacks (STX)? Stacks is a layer-1 blockchain that runs alongside Bitcoin’s blockchain, using it for settlement. Developers can build decentralized applications and tokens on the Stacks blockchain. Smart contracts on the Stacks network use a language called Clarity.
How does STX work?
The Stacks cryptocurrency, STX, is the primary coin of the Stacks blockchain, although other cryptocurrency tokens can also be built on the Stacks blockchain.
Stacks is an open-source mainnet blockchain that connects to Bitcoin’s blockchain via a consensus algorithm known as proof-of-transfer (PoX). Essentially, the Stacks network produces blocks alongside Bitcoin’s blockchain, but it is not a sidechain. Stackers can lock up a specified number of STX coins to contribute to the Stacks blockchain and receive Bitcoin (BTC) as a reward during the time their STX is locked. This BTC comes from the amount of BTC that Stacks blockchain miners must send before they can produce blocks on the Stacks blockchain. These miners then receive STX via block rewards and transaction fees from mining on the Stacks blockchain. The Stacks blockchain aims to eventually switch to a consensus algorithm focused on asset-burning known as proof-of-burn (PoB).
Although blocks on the Stacks blockchain are produced with the same time constraints as Bitcoin’s blockchain, Stacks uses microblocks for scaling. Microblocks are essentially blocks occurring between regular network blocks. How is the Stacks network secured? The Stacks blockchain derives security from its relationship with Bitcoin’s blockchain.
Stacks price history
Wondering about Stacks price today or a Stacks price chart? The Stacks blockchain itself does not have a price, but the mainnet’s native coin, STX, does have a value that can be priced in U.S. dollars (USD). How many STX coins are there? STX block rewards add to the STX circulation supply and the STX total supply from its maximum supply.
For STX coin price history, see the STX live price chart above. The top of the page also includes an array of information, such as an STX to USD live price and the STX marketcap. How and where can you buy STX coins? STX is listed on many crypto exchanges.
