What is Stacks?
Description
Stacks (STX) is a platform that aims to extend the functionality of Bitcoin and make it programmable, thereby allowing developers to create smart contracts and decentralized applications (DApps) directly on the BTC blockchain. Unlike other cryptocurrencies that seek to build a separate ecosystem, Stacks intends to leverage the security and robustness of Bitcoin while offering new opportunities for use beyond currency transactions. Stacks' vision is to realize a decentralized internet where users have full control over their data and applications without intermediaries.
Technology
The underlying technology of Stacks introduces the concept of "anchoring consensus" that connects to the Bitcoin blockchain, leveraging its security. This allows Stacks to execute smart contracts and DApps while maintaining the Bitcoin network as a foundational security layer. Smart contracts in Stacks are written in a specific language called Clarity, designed to ensure predictability and security, avoiding some of the common security issues found in other smart contract languages.
The consensus mechanism of Stacks, called Proof of Transfer (PoX), is an innovative concept that extends the idea of Proof of Work (PoW) used by Bitcoin, creating a unique link between two blockchains. Instead of creating its own isolated consensus mechanism, Stacks "anchors" its blocks to those of Bitcoin, so that the consensus information of Stacks is recorded on the Bitcoin blockchain.
On Conio it is possible to buy and sell STX (Stacks's native blockchain currency), however, it is not yet possible to withdraw and deposit STX. On the other hand, you can use the "Convert" function to convert STX to another asset from among those in the Conio marketplace.
What is Stacks?
Description
Stacks (STX) is a platform that aims to extend the functionality of Bitcoin and make it programmable, thereby allowing developers to create smart contracts and decentralized applications (DApps) directly on the BTC blockchain. Unlike other cryptocurrencies that seek to build a separate ecosystem, Stacks intends to leverage the security and robustness of Bitcoin while offering new opportunities for use beyond currency transactions. Stacks' vision is to realize a decentralized internet where users have full control over their data and applications without intermediaries.
Technology
The underlying technology of Stacks introduces the concept of "anchoring consensus" that connects to the Bitcoin blockchain, leveraging its security. This allows Stacks to execute smart contracts and DApps while maintaining the Bitcoin network as a foundational security layer. Smart contracts in Stacks are written in a specific language called Clarity, designed to ensure predictability and security, avoiding some of the common security issues found in other smart contract languages.
The consensus mechanism of Stacks, called Proof of Transfer (PoX), is an innovative concept that extends the idea of Proof of Work (PoW) used by Bitcoin, creating a unique link between two blockchains. Instead of creating its own isolated consensus mechanism, Stacks "anchors" its blocks to those of Bitcoin, so that the consensus information of Stacks is recorded on the Bitcoin blockchain.
On Conio it is possible to buy and sell STX (Stacks's native blockchain currency), however, it is not yet possible to withdraw and deposit STX. On the other hand, you can use the "Convert" function to convert STX to another asset from among those in the Conio marketplace.