What is Stacks (STX)?
, it's possible to build apps and smart contracts on Bitcoin and claims to be the better internet on Bitcoin. It connects you to Bitcoin, enabling you to build apps, smart contracts, and digital assets are integrated with Bitcoin's security, capital and network.
Who founded Stacks?
Blockstacks is founded in New York, USA by Muneeb Ali and Ryan Shea in 2016.
How do Stacks work?
Stacks do not modify the Bitcoin design. It uses Bitcoin to settle transactions on the Bitcoin blockchain every block. This makes all Stacks transactions inherit Bitcoin's finality and settlement because Stacks transactions can be verified on the Bitcoin blockchain.
Before Stacks, building new features on Bitcoin was a paradox. Bitcoin is secure because it's stable and resistant to change. It's secure because it has a minimal scripting language with a small attack surface and limited space for transactions. Introducing new features to the Bitcoin core protocol is hard and not desirable as these features add complexity.
Stacks solves this with Proof of Transfer, micro blocks, and Clarity. It is designed so that builders can benefit from Bitcoin's properties without modifying Bitcoin itself.
Can I earn money with stacks?
Yes, you can so by buying low and selling high. It's also possible to earn Stacks by 'Stacking' if you support the network's security and consensus.
How can I use Stacks
Stacks Token (STX)
is the native asset on the Stacks blockchain and used as fuel for transactions. All transactions, from executing Clarity contracts to creating digital assets, are paid for in STX