Price of Stacks (STX) today
As of the latest data, Stacks (STX) is currently priced at $2.59 with a market capitalization of $3.57B. The 24-hour trading volume stands at $170.40M, The circulating supply of Stacks is approximately 1.45B. The cryptocurrency has seen a 5.68% increase in value over the past 24 hours.
About Stacks (STX)
Stacks, with the symbol STX, is a blockchain asset that aims to create a better internet built on Bitcoin. It enables decentralized apps and smart contracts that inherit all of Bitcoin's powers, making the internet more secure and user-owned. Apps built on Stacks run their logic on the blockchain with smart contracts, ensuring they are controlled by code instead of companies and accessible to anyone. This decentralized approach allows for data ownership by users, preventing centralized servers from storing user data and enabling data portability between apps.
One of the key features of Stacks is its ability to make Bitcoin programmable without modifying the Bitcoin design. It settles transactions on the Bitcoin blockchain every block, inheriting Bitcoin's finality and security. Stacks also introduces Proof of Transfer, microblocks, and Clarity to scale Bitcoin and enable new features without modifying the core protocol. Proof of Transfer allows for miners to transfer Bitcoin to holders of Stacks Token, creating a new consensus mechanism that benefits from Bitcoin's security.
As a layer-1 blockchain like Bitcoin, Stacks connects to Bitcoin with a 1:1 block ratio and uses microblocks to achieve near-instant confirmation for transactions. This scalability independent of Bitcoin ensures that Stacks transactions are fast enough for decentralized apps while still benefiting from Bitcoin's security and settlement. Stacks Token (STX) is the native asset on the Stacks blockchain, used as fuel for transactions ranging from executing Clarity contracts to creating digital assets. Overall, Stacks offers a promising solution for building a user-owned internet on the foundation of Bitcoin.
How does Stacks work?
Stacks (STX) is a decentralized blockchain platform that enables peer-to-peer transactions and smart contracts. Built on top of the Bitcoin blockchain, Stacks uses a unique consensus mechanism called Proof of Transfer (PoX) to secure and validate transactions. This allows users to earn Bitcoin rewards by participating in the network and stacking their STX tokens. Stacks also introduces Clarity, a smart contract language that ensures security and predictability in code execution. With its focus on decentralization and empowering users to control their data and assets, Stacks offers a range of use cases including decentralized finance (DeFi), tokenization of assets, and decentralized applications (dApps). Its innovative approach to combining the security of Bitcoin with the flexibility of smart contracts sets it apart from traditional financial systems, making it a versatile platform with potential applications across various industries and platforms.
How to keep your Stacks (STX) safe?
To keep your Stacks (STX) safe, consider using hardware wallets like Ledger for enhanced security measures. These wallets store your private keys offline, making it harder for hackers to access your funds. Additionally, trusted platforms like Coinbase, OKX, and Kraken offer secure storage options and advanced security features to protect your assets. By utilizing these platforms and wallets, you can ensure the safety of your Stacks investments and have peace of mind knowing your funds are secure.
