Stacks

What’s Stacks?

Stacks is a Layer-2 platform that leverages the security of Bitcoin to support dApps. Using Bitcoin as the base blockchain enables developers to create sophisticated dApps in a safe and stable environment. The sBTC whitepaper describes the planned Nakamoto Release in 2024, which is intended to increase the Stacks layer’s transaction throughput and speed greatly. This significant development demonstrates the adaptable potential of Bitcoin as a flexible asset and reinforces Stacks’ position as a top Layer-2 solution, opening up new and creative use cases for the Bitcoin ecosystem.

Who Are the Founders of Stacks?

Muneeb Ali and Ryan Shea developed the Stacks project with the goal of expanding the capabilities of Bitcoin. Their goal was to develop a platform that adds decentralized apps and smart contracts to the features already present in Bitcoin. In the end, this fundamental concept developed into Stacks, opening the door for a more adaptable Bitcoin environment in which programmers could create intricate applications while still making use of Bitcoin’s strong network effects and security.

What Makes Stacks Unique?

Since Stacks leverages Bitcoin’s intrinsic security to access and understand the state of the network, it is unique in providing true Bitcoin-based decentralized finance (DeFi). The platform guarantees that financial transactions and contracts benefit from Bitcoin’s unparalleled stability and reliability by allowing Stacks of transactions to settle directly on the cryptocurrency. Because of its distinctive architecture, Stacks is well-positioned to develop DeFi apps that use Bitcoin’s strong base and provide consumers with the assurance that their financial transactions are protected by the strongest blockchain network available.

How Many Coins Are There in Circulation?

Circulating supply: 1,454,718,035 STX

How Is the Stacks Secured?

By using a consensus process known as “Proof of Transfer,” Bitcoin secures Stacks (STX). By keeping and “staking” Bitcoin, customers may “mine” or validate transactions thanks to the PoX method

Where Can You Buy Stacks?

You can buy STX on various exchanges, such as Binance, Coinbase, and Kraken.

What’s next on Stacks?

The system has been significantly improved with Stacks 2.1, which improves stacking, clear evolution, in-band blockchain updates, and dependability. In Q1, the Hiro Developer Platform was introduced. In Q1, subnets were presented as a scalability solution. Q2 saw the release of the sBTC Developer Release, which gave developers access to sBTC for experimentation. In Q4, the Stacks Nakamoto Release is scheduled to be live, allowing the safe transfer of BTC between L1 and L2.