About Stacks
Stacks is a blockchain platform designed to enhance Bitcoin's functionality by enabling smart contracts and decentralized applications (DApps) through a secondary layer. It utilizes an innovative consensus mechanism called Proof of Transfer (PoX), leveraging Bitcoin's blockchain security.
Key Features:
- Smart Contracts: Written in Clarity, a language designed to minimize errors and unpredictable behavior.
- DApps: Provides a framework for deploying decentralized applications backed by Bitcoin’s security.
- Bitcoin-Powered DeFi: Introduces decentralized finance (DeFi) functionalities built on Bitcoin.
Trading Metrics:
- 24-Hour Trading Volume: Reflects market liquidity and investor interest.
- Market Capitalization: Indicates the perceived network value by the market.
Native Currency:
The native token, STX, is used for executing smart contracts, processing transactions, and participating in PoX-based mining.
Founders & Vision:
Founded by Muneeb Ali (PhD in Computer Science, Princeton) and Ryan Shea (Princeton Engineering alumnus), Stacks aims to decentralize web infrastructure while prioritizing user data ownership and privacy.
Unique Functionalities
Stacks enhances Bitcoin’s potential without altering its core protocol:
- Smart Contracts: Complex DApps powered by Clarity, ensuring security and cost predictability.
- Bitcoin Anchoring: Transactions secured by Bitcoin’s blockchain robustness.
- Stacking: STX holders earn Bitcoin rewards by participating in network security.
- Decentralization: Supports DApps within Bitcoin’s ecosystem while maintaining stability.
Tokenomics
- Circulating Supply: 1,431,088,949 STX.
- Max Supply: Undefined (subject to mining and token burns).
Token utility includes smart contract execution, transaction processing, and PoX consensus participation.
Security Framework
Stacks leverages Bitcoin’s security via:
- Proof of Transfer (PoX): Miners transfer Bitcoin to validate transactions.
- Bitcoin Anchoring: Blocks and transactions are recorded on Bitcoin’s blockchain.
- Independent Node Validation: Ensures decentralized transaction verification.
Stacks Markets
| Exchange | Trading Pair | Price (USD) | 24H Volume (%) | Depth (±2%) |
|----------------|-------------|------------|---------------|------------|
| Binance | STX/USDT | $0.662 | 12.01% | $260K/$238K|
| Coinbase | STX/USD | $0.659 | 6.57% | $122K/$126K|
| Upbit | STX/KRW | $0.659 | 11.38% | $66K/$40K |
| Gate.io | STX/USDT | $0.662 | 8.19% | $213K/$168K|
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FAQ
What is Stacking?
Stacking involves locking STX tokens to support network security and earning Bitcoin rewards.
How does Stacks differ from Ethereum?
Stacks anchors to Bitcoin for security, whereas Ethereum operates independently with Proof of Stake (PoS).
Can I mine STX?
No—STX uses PoX, where miners transfer Bitcoin to participate in block creation.
Is STX a good investment?
Its Bitcoin-backed security and DeFi integration make it a unique contender, but market risks apply.
Final Word: Stacks bridges Bitcoin’s security with DApp flexibility, positioning itself as a key player in blockchain innovation.