Stacks is a layer 2 blockchain designed to bring smart contracts and decentralized applications to be built on top of the Bitcoin network. Stacks leverages the security and stability of the Bitcoin network to build smart contracts and decentralized applications.
Kalkulator Stacks ke Rupiah (STX to IDR)
Konversi Harga Stacks hari ini ke dalam Rupiah sebaliknya.
Key stats
Market Capitalization
IDR 40.214.910.625.091
Trading volume 24H
IDR 2.341.295.616.871
Volume / Market Cap
5,82195902086678351850 %
Fully Diluted Valuation
IDR 40.214.830.562.741
All time high
IDR 61.445
Circulating supply
STX 1.505.880.137
Max supply
STX 1.818.000.000
Total supply
STX 1.505.890.135
About Stacks (STX)
Stacks is a blockchain that enables the secure development of decentralized applications (dApps) and smart contracts on top of the Bitcoin network. Stacks has a token for its network known as STX.
The Clarity programming language, which is similar to Python, is used to build applications such as smart contracts and dApps in the Stacks ecosystem.
Although Stacks and Bitcoin are different blockchains, they are related. By linking its system to Bitcoin, Stacks has the security and stability of the Bitcoin network. Similarly, smart contracts added to the Bitcoin blockchain do not change any features of Bitcoin.
Stacks (STX) Working Mechanism
The working mechanism of Stacks is based on the Proof of Transfer (PoX) concept that governs the interaction between STX miners and stackers. The concept also allows the execution of smart contracts to run on top of the Bitcoin network.
PoX is conceptually similar to Proof of Work (PoW) and is a modification of Proof of Burn (PoB). In the process, users are required to transfer a certain amount of BTC (spends BTC) to the Stacks account to mint the next block on its blockchain.
STX tokens will be awarded to miners who successfully mine a block. Since Stacks has its own blockchain separate from Bitcoin, on-chain data is stored on the Stacks blockchain, while Bitcoin is useful for network security validation.
There is something more unique about the PoX concept that Bitcoin miners do not burn the BTC they have used for computing resources. Instead, miners will “stack” it by sending it to STX token holders who lock their tokens.
Uniqueness of Stacks (STX)
The uniqueness of Stacks (STX) lies in its approach, which combines the security of the Bitcoin network with the execution capabilities of smart contracts. Here are some of the unique features of Stacks:
Integration with Bitcoin
Stacks uses Proof of Transfer (PoX) to extend the functionality of the Bitcoin network by enabling the building of decentralized applications (dApps) and the execution of smart contracts on top of them.
Beside that, since it is connected to Bitcoin, Stacks leverages the high security of Bitcoin as Stacks transactions are validated with Bitcoin.
Has a separate ledger
Stacks has a separate ledger for storing data outside of the Bitcoin blockchain called Gaia. This allows developers to build dApps, just like on Solana or Ethereum.
Adopting Proof of Transfer mechanism
The PoX mechanism makes Stacks highly secure and scalable without the need to fork or alter the Bitcoin blockchain.
Advantages and Disadvantages of Stacks (STX)
Advantages:
- It has a high level of security because it is developed on top of the Bitcoin network.
- With the PoX mechanism, Stacks can extend its functionality without compromising the security system.
- The division of blocks into multiple blocks in the form of microblocks causes the Stacks transaction process to take less time.
Disadvantages:
- Being connected to the Bitcoin network allows Stacks to experience changes or vulnerabilities that may occur on the Bitcoin network.
- The PoX mechanism and the use of Bitcoin as a security base can be difficult for some users who are not familiar with the consensus mechanism.
Features of Stacks (STX)
Stacks Staking
There is a staking feature that allows STX token holders to lock in their assets for Bitcoin rewards from STX miners. So, anyone can earn Bitcoin by buying STX and then locking it up.
Stacks Mining
To maintain the network and verify STX transactions, mining will use an open membership system. When mining a Stacks block, each miner must transfer Bitcoin.
Furthermore, miners will receive blocks in exchange for mining STX tokens. This process involves converting Bitcoin and Stacks Nodes. To compete with other miners in generating blocks and holding rewards in the form of STX, they need to set up a Bitcoin and Stacks Wallet.
Clarity smart contract
The Clarity programming language is used in the Stacks smart contract service on the Bitcoin network. Clarity has the advantage of being able to be interpreted and displayed on the blockchain unchanged so that it can be easily understood by users.
Key Figures in Stacks (STX)
Stacks was developed in 2013 under the name Blockstacks by Muneeb Ali and Ryan Shea. Later, in 2020 the platform changed its name to Stacks.
Muneeb Ali is a Computer Science graduate from Princeton University with an MA and PhD. Muneeb Ali and Ryan Shea developed Blockstack technology at Princeton University’s Computer Science Department.
Stacks was developed with funding from various venture capitals such as Y Combinator, Digital Currency Group, and Winklevoss Capital.
History and development of Stacks (STX)
Developed in 2013 with funding from various leading venture capital funds, Stacks under the company Blockstack PBC was only able to enter the blockchain world in 2018 and launch the main network called Stacks 1.0.
A year earlier, in 2017, Blockstack conducted research and technology development by launching the alpha version of the Blockstack browser and decentralized data storage system.
Currently, Blockstack PBC operates under the Hiro Systems PBC company and joins the various companies developing the Stacks platform.
Through an Initial Coin Offering (ICO) and individual investors, the blockchain project raised USD 75 million in funding. Some of the participating investors include Digital Currency Group, Foundation Capital, HashKey, Lux Capital, Recruit Holding, SNZ, USV, Y Combinator, Winklevoss Capital, Zhen Fund, and 4,500 other entities.
In early 2021, Stacks successfully launched the mainnet, Stacks 2.0, which allows developers to build smart contract and DeFi ecosystems on the Bitcoin blockchain. The upgrade allows users to make transactions using STX on the Bitcoin blockchain.
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