Stacks (STX) is a layer-1 blockchain solution and open-source platform that enables smart contracts, DeFi, NFT, and apps built on Bitcoin (BTC) and aims to unleash Bitcoin's full potential.

Stacks (STX) enable the development of Decentralized Applications (dAPPs) and bring them to Bitcoin without changing any of the features that make Bitcoin unique, such as its security and stability.

The dAPPs so developed are open-sourced, implying that developers can simply use the cutting-edge technology of the Stacks platform to build on top of each other apps without alteration and producing near-impossible features that are not feasible with regular apps.

Features and Updates

The platform, formerly known as Blockstack, was renamed Stacks in Q4 of its roadmap to separate the ecosystem and its open-source project from Blockstack PBC. The parent company built the original protocols.

The Stacks ecosystem is facilitated by its native token, the STX, which is utilized to process transactions (gas fees), register new digital assets on the blockchain, and power the execution of smart contracts on the platform.

Stacks (STX) uses Bitcoin as the base layer; hence, it is secure, fast, and scalable. Stacks (SXT) has the following features:

1. BNS: Blockchain Naming System (BNS) is a network system that binds Stacks usernames without relying on any central control point. The usernames are attached to an off-chain state; anyone can create a namespace, and the namespace created lasts forever and is created on a first-come-first-serve basis.


2. DeFi on Bitcoin: Stacks is positioned to enable true Bitcoin DeFi leveraging Bitcoin security and settlement protocol.


3. Bringing NFTs to Bitcoin: Stacks creating new and exciting opportunities in the NFT space. And as is familiar with all NFTs, with Stacks blockchain, NFTs are created with clarity and smart contracts that leverage Bitcoin's layer-1 protocol, security, and settlement assurance. 

Price

The current price of STX is $0.304294, with a trading volume of $9,052,567 in the last 24 hours. STX has a market cap of $408,197,367, a circulation supply of 1,341,456,037 STX, and a maximum supply of 1,818,000,000 STX coins.

Stacks (STX) Team

Muneeb Ali and Ryan Shea co-founded Blockstacks PBC, the parent company of Stacks (STX). Although it now operates under the name Hiro System PBC. Stacks was initially funded by a range of prominent capital funds, including Digital Currency Group, Y Combinator, and Winklevoss Capital.