CoinDesk • Apr 11, 24
Bitcoin Ecosystem Tokens, RUNE, STX, and ORDI May See Gains After Halving
“There exists a large, untapped pool of capital within the Bitcoin ecosystem that remains dormant,” Wintermute’s OTC desk told CoinDesk.
Read more
Create a Coinbase account to buy and sell Stacks on the most secure crypto exchange.
STX is the native token of the Stacks network, which aims to enable DeFi, NFTs, apps, and smart contracts for Bitcoin. STX is used to pay transaction fees and can be locked directly on the network to earn BTC rewards.
Stacks (STX) is a layer built on top of the Bitcoin blockchain, designed to expand the functionality of Bitcoin by enabling smart contracts and decentralized applications (dApps). It aims to make Bitcoin more than just a passive asset by unlocking its potential for use in sophisticated applications. Stacks uses a consensus mechanism known as Proof of Transfer (PoX), which allows it to connect with the Bitcoin blockchain, thereby benefiting from Bitcoin's robust security. The Stacks layer is designed to be scalable, enabling transactions that settle on Bitcoin. It uses the Clarity programming language, which is designed for safety and predictability, allowing developers to know with certainty what a contract will do before it executes.
Stacks operates by using the Bitcoin blockchain as its base layer. It introduces its own consensus model, known as Proof of Transfer (PoX), which allows users to transfer the base currency (BTC) to mine STX. This mining mechanism effectively bootstraps the security of the Stacks blockchain using BTC. All transactions on the Stacks layer are automatically hashed and settled on the Bitcoin blockchain, providing an additional layer of security. Stacks also uses the Clarity programming language for smart contracts, which is designed for safety and predictability. This allows developers to know with certainty what a contract will do before it executes.
Stacks aims to unlock the potential of Bitcoin for use in a variety of applications. It enables the creation of smart contracts and decentralized applications (dApps) that can use Bitcoin as an asset and settle transactions on the Bitcoin blockchain. Potential use cases include decentralized finance (DeFi) applications, non-fungible tokens (NFTs), and more. For instance, developers can build applications that require fully-expressive smart contracts, high performance, or greater privacy. Stacks also enables atomic BTC swaps and assets owned by BTC addresses, further expanding the potential use cases for Bitcoin.
The Stacks project was initiated in 2017 by Muneeb Ali, who had just completed his PhD. His thesis laid the groundwork for the Stacks layer for Bitcoin. The original whitepaper was released the same year, and the project gathered substantial support. Prior to this, the early team had been building protocols and apps on Bitcoin before they began working on Stacks. In 2019, Stacks conducted the first-ever SEC qualified token offering for the general public, including the US. From 2018 to 2020, the team focused on building out the Stacks infrastructure, which is a programming layer for Bitcoin. The Stacks cryptocurrency has a predefined supply that is set to reach approximately 1,818 million STX.
Clarity is a smart contract language designed for the Stacks blockchain, which aims to optimize predictability and security. Unlike other smart contract languages, Clarity is decidable, meaning you can know with certainty from the code itself what the program will do. This feature strives to eliminate common pitfalls and vulnerabilities in smart contract engineering. Clarity is interpreted, not compiled, which means the code is committed to the blockchain exactly as written, aiming to maintain transparency and reduce the risk of compiler-induced vulnerabilities. Clarity disallows reentrancy, guards against overflow and underflows, and supports custom tokens. It permits post conditions to be attached to transactions to assert the chain state has changed in a certain way once the transaction has completed. Clarity's design strives to provide a transparent environment for developers to build robust smart contracts on the Stacks blockchain.
Stacks uses the Bitcoin base-layer blockchain as a consistent storage and broadcast medium, recording all Stacks transactions on Bitcoin. This is achieved through a unique consensus mechanism called Proof-of-Transfer (PoX). In PoX, Stacks miners bid Bitcoin to propose new blocks, and the Bitcoin is then transferred to a set of participants that participate in the operation of the new chain, known as Stacks stakers. This process anchors the Stacks blockchain to the Bitcoin blockchain, ensuring that every Stacks block is unambiguously recorded within a block on the Bitcoin blockchain. This way, Stacks' entire transaction and state history is unequivocally represented on the Bitcoin base layer, with the intention of improving its security.
STX has a role in enabling smart contracts and facilitating transactions within the network. It is used to pay for transaction fees and deploying smart contracts. STX holders may engage in the network's consensus mechanism, a process termed "stacking". This involves the temporary allocation of their STX tokens to support network security. As a result, they may receive non-monetary rewards. This approach seeks to offer improvements within the Bitcoin blockchain and aims to provide users with non-financial incentives, contributing to the Stacks ecosystem's aspirations for growth and security.
Yes, developers have the ability to construct decentralized applications (DApps) on the Stacks blockchain. Stacks employs a consensus mechanism known as Proof of Transfer (PoX), which connects the Stacks blockchain with Bitcoin's blockchain, providing developers the opportunity to create DApps that interact with Bitcoin's network. Developers have the option to utilize the Clarity programming language, a decidable language developed by Stacks, for writing smart contracts for their DApps. Stacks also provides a variety of developer tools and resources, including a knowledge base, learning resources, and a developer newsletter, to assist developers in building DApps on its platform.
Stacks seeks to offer a new perspective on the concept of digital identity by leveraging blockchain technology to create a decentralized identity system. This system is designed to give users more control over their personal data and reduce reliance on centralized databases. In the Stacks identity system, a user's digital identity is more than just a profile; it's a set of attributes that uniquely identify a user online. This identity is secured by the Stacks blockchain, with the intention of making it immutable and verifiable. The system uses a unique identifier known as a Decentralized Identifier (DID), which includes public key information, verification information, and service endpoints. This DID is stored in an identity wallet, which the user can use to grant or revoke access to their identification information. This approach to identity management seeks to enhance user privacy, reduce vulnerability to data misuse, and provide a method of authentication.
Stacks has established several partnerships and collaborations within the blockchain industry. One collaboration is with ALEX, a project that aspires to build a DeFi hub for the Stacks ecosystem. ALEX strives to deliver a range of DeFi products, including borrowing and lending Bitcoin, an advanced decentralized exchange, derivative products for shorting and leverage, yield farming, and a launchpad. Another collaboration is with CityCoins, a project that facilitates cities in token creation. CityCoins and ALEX have collaborated to introduce DeFi applications to regional cryptocurrencies. Stacks has also partnered with Arkadiko, a protocol that allows Stacks users to utilize their assets as collateral to mint the project’s stablecoin USDA. Other collaborations include Sigle, a blogging platform running on top of Stacks, Stackswap, a decentralized exchange that launched on Stacks, and Zion, a new network built directly on the Lightning Network and hence on Bitcoin. These partnerships and collaborations are part of Stacks' efforts to foster a diverse and robust ecosystem on its platform.
Yes, users can participate in Stacks governance. The Stacks ecosystem has a formal process for making blockchain-level decisions known as the Stacks Improvement Proposal or "SIP" process. This process is both rigorous and accessible. It involves several stages of editing and review of proposals, but also allows any community member to participate in blockchain decisions by either attending weekly SIP calls, which are typically open to the public, or engaging in SIP discussions on Github. The Stacks ecosystem extends beyond its blockchain. It is a broad community of builders who are regularly involved in decision-making about how to refine Stacks. Working groups, for instance, do not follow a standard decision-making process, and yet they often make decisions that may influence the ecosystem. The Stacks Foundation aims to refine these informal processes to enhance Stacks governance.
Earn free crypto after making your first purchase. Terms apply.
Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards.
$3.0B
$136.0M
1.5B STX
29 days
#35
$3.84
-0.76%
-0.84%
-20.77%
-12.1%
-36.38%
+159.01%
CoinDesk • Apr 11, 24
Bitcoin Ecosystem Tokens, RUNE, STX, and ORDI May See Gains After Halving
“There exists a large, untapped pool of capital within the Bitcoin ecosystem that remains dormant,” Wintermute’s OTC desk told CoinDesk.
Read more
The Block • Feb 25, 23
This week in markets: STX is bright spot while bitcoin, ether stagnate with market
Crypto stocks also had a tough week.
Read more
Decrypt • Feb 21, 23
Stacks Token Soars 130% on the Week Amid Bitcoin NFT Hype
With Bitcoin-based NFTs attracting the market’s attention, Stacks appears to be enjoying the spotlight with a steady rise in activity.
Read more
A selection of conversions from different assets to top cryptocurrencies.
A selection of conversions for different assets and currencies.
ICP - TND
Internet Computer - Tunisian Dinar
VTHO - YER
VeThor Token - Yemeni Rial
AVAX - TJS
Avalanche - Tajikistani Somoni
FIL - RSD
Filecoin - Serbian Dinar
AKT - INR
Akash Network - Indian Rupee
AXL - NOK
Axelar - Norwegian Krone
BONK - BTN
Bonk - Bhutanese Ngultrum
ZEN - PKR
Horizen - Pakistani Rupee
MEDIA - TMM
Media Network - Turkmenistani Manat
XLM - OMR
Stellar Lumens - Omani Rial
XRP - MXN
XRP - Mexican Peso
ATOM - ALL
Cosmos - Albanian Lek
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1,810 unique individuals are talking about Stacks and it is ranked #35 in most mentions and activity from collected posts. In the last 24 hours, across all social media platforms, Stacks has an average sentiment score of 3.2 out of 5. Finally, Stacks is becoming more newsworthy, with 0 news articles published about Stacks. This is a 0% increase in news volume compared to yesterday.
On Twitter, people are mostly neutral about Stacks. There were 23.03% of tweets with bullish sentiment compared to 6.36% of tweets with a bearish sentiment about Stacks. 70.62% of tweets were neutral about Stacks. These sentiments are based on 1038 tweets.
On Reddit, Stacks was mentioned in 83 Reddit posts and there were 165 comments about Stacks. On average, there were more upvotes compared to downvotes on Reddit posts and more upvotes compared to downvotes on Reddit comments.
Powered by LunarCrush
1,810 people
#35
3.2 out of 5
1,038 people
23.03%
Bullish
70.62%
Neutral
6.36%
Bearish
83
165
102,462
109,625
STX/CAD (Canadian Dollar)
CA$2.87
STX/JPY (Japanese Yen)
¥321.92
STX/INR (Indian Rupee)
₹175.23
STX/BRL (Real)
R$10.73
STX/EUR (Euro)
€1.96
STX/NGN (Nigerian Naira)
NGN 2,773.31
STX/KRW (South Korean Won)
₩2,877.53
Coinbase
How to Buy Stacks
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Coinbase
How to Stake Stacks
You can earn rewards for Stacks through DeFi yield. DeFi yield lets eligible customers earn yield by lending their crypto to third-party DeFi protocols.
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The price of Stacks has decreased by 0.76% in the last hour and decreased by 0.84% in the past 24 hours. Stacks’s price has also fallen by 20.77% in the past week. The current price is $2.10 per STX with a 24-hour trading volume of $135.97M. Currently, Stacks is valued at 45.28% below its all time high of $3.84. This all-time high was the highest price paid for Stacks since its launch.
The current circulating supply of Stacks is 1,458,223,369.209 STX which means that Stacks has as total market cap of 1,458,223,369.209.
We update our Stacks to USD currency in real-time. Get the live price of Stacks on Coinbase.
The current market cap of Stacks is $3.05B. A high market cap implies that the asset is highly valued by the market.
The all-time high of Stacks is $3.84. This all-time high is highest price paid for Stacks since it was launched.
Over the last 24 hours, the trading volume of Stacks is $135.97M.
Assets that have a similar market cap to Stacks include Aave UNI V2, Kaspa, Cosmos, and many others. To see a full list, see our comparable market cap assets.
The current circulating supply of Stacks is 1.5 billion.
The median time that Coinbase customers hold Stacks before selling it or sending it to another account or address is 29 days.
Stacks ranks 112 among tradable assets on Coinbase. Popularity is currently based on relative market cap.
Currently, 83% of Coinbase users are buying Stacks. In other words, 83% of Coinbase customers have increased their net position in Stacks over the past 24 hours through trading.
Yes, Stacks is currently available on Coinbase’s centralized exchange. For more detailed instructions, check out our helpful how to buy Stacks guide.
Certain content has been prepared by third parties not affiliated with Coinbase Inc. or any of its affiliates and Coinbase is not responsible for such content. Coinbase is not liable for any errors or delays in content, or for any actions taken in reliance on any content. Information is provided for informational purposes only and is not investment advice. This is not a recommendation to buy or sell a particular digital asset or to employ a particular investment strategy. Coinbase makes no representation on the accuracy, suitability, or validity of any information provided or for a particular asset. Prices shown are for illustrative purposes only. Actual cryptocurrency prices and associated stats may vary. Data presented may reflect assets traded on Coinbase’s exchange and select other cryptocurrency exchanges.