STX

Stacks price

STX
|
3.9/5
CyberScope
4.4
05/27/2024
TokenInsight
3.3
09/10/2023
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USD
USD
$2.1245
+7.66%
1h
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Stacks price live data

The current price of Stacks is $2.1245. Since 00:00 UTC, Stacks has increased by +7.67%. It currently has a circulating supply of 1,461,627,326 STX and a maximum supply of 1,818,000,000 STX, giving it a fully diluted market cap of $3.11B. At present, Stacks holds the 36 position in market cap rankings. The Stacks/USD price is updated in real-time.

Stacks price performance in USD

Time periodChange amount%Chg
Today$0.15130 +7.66%
7 days$0.065800 +3.19%
30 days-$0.38990 -15.51%
3 months-$0.82840 -28.06%

Stacks market information

24h low/high
The highest, lowest, and last prices in 24 hours
24h low$1.9519
Last price $2.1245
24h high$2.1423
Heat index ranking
89
Market cap ranking
36
Market cap
$3.11B
Favorited rate
Percentage of users who favorited this asset to all users
2.59%
All-time high
$3.8490
-44.81% (-$1.7245)
Apr 1, 2024 (1 month ago)
All-time low
$0.19870
+969.19% ($1.9258)
Nov 14, 2022 (2 years ago)
ICO date
10/25/2019
ICO price
The price at which this crypto was first traded
$0.12000
Circulating supply
The amount of this crypto that is publicly available in the market
1,461,627,326 STX
Market cap at circulating supply
Market cap = Circulating supply × Last price
$3.87B

About Stacks (STX)

When introduced in 2009, Bitcoin brought about remarkable autonomy using blockchain technology, signifying a significant leap forward. However, as blockchain technology has evolved, it has revealed certain constraints within Bitcoin's foundational structure. Compared to Ethereum platforms, Bitcoin falls short in terms of programmability and versatility necessary for extensive functionality. To fully unleash the latent capabilities of the Bitcoin network, Stacks (STX) has introduced smart contracts and decentralized applications (DApps) to this innovative blockchain. 

What is Stacks?

Stacks, formerly known as Blockstack, is an open-source blockchain platform designed to enhance the capabilities of the Bitcoin blockchain by introducing smart contracts and DApps. Through Stacks, Bitcoin users and developers can engage with smart contracts, enabling access to decentralized finance (DeFi) protocols and non-fungible tokens (NFTs) – aspects absent from Bitcoin's original design.

As Stacks operates as layer-2 blockchain, introducing smart contracts doesn't alter any of Bitcoin's inherent features, allowing it to preserve its characteristics like security and stability. Furthermore, since Stacks is built upon Bitcoin's base layer, every action within the Stacks ecosystem is backed by the security of Bitcoin.

The Stacks team

In 2013, Muneeb Ali and Ryan Shea, both Princeton University alumni, conceptualized the idea of Stacks. The co-founders committed themselves to the project's development, leading to the Mainnet's successful launch in January 2021. Since then, the team has expanded to encompass more developers, advisors, and contributors, enriching the project's growth and impact.

How does Stacks work? 

Ethereum employs Layer 2 protocols for its scaling solutions, while Stacks adopts a distinct consensus algorithm to establish a scaling layer that integrates smart contracts into the Bitcoin network. Stacks introduces Clarity, a novel smart contract code, to uphold Bitcoin's network security and stability. Clarity's design prioritizes secure and predictable execution, minimizing vulnerabilities and unforeseen issues. 

Stacks also introduced Proof of Transfer (PoX), a distinctive consensus mechanism where STX miners leverage their Bitcoin holdings to lead mining in the next block, earning new STX tokens. Each block mined on the Stacks blockchain stores users' identities and uses this information to interact with the Stacks ecosystem. Given the interconnectivity between Stacks and Bitcoin blockchains, any modifications made are interconnected.

STX: The utility token of Stacks Network 

STX is the native utility token of Stacks Network, enabling the integration of DeFi, NFTs, apps, and smart contracts onto the Bitcoin blockchain. For network security and DApp development, STX plays a crucial role in the Stacks blockchain.

Stacks tokenomics

With a hard cap of 1.818 billion coins, approximately 1.38 billion STX tokens are in circulation. Following a fixed annual supply similar to Bitcoin, STX is projected to reach its hard cap by 2050.

Stacks mining

Utilizing the PoX consensus mechanism, Stacks introduces an energy-efficient approach in contrast to Bitcoin's resource-heavy mining. STX miners on the Stacks network bolster its security by using Bitcoin to add new blocks, receiving STX block rewards as compensation.

STX use cases 

As the native utility token, STX is essential in ensuring the network's seamless operation. These roles encompass accessing, constructing, and engaging with DApps, contributing to network governance, covering transaction fees, and facilitating purchases.

STX distribution

In 2017, when Stacks was launched, the Genesis block had 1.32 billion STX distributed as follows:

  • 8.34 percent went to a long-term treasury.
  • 13.53 percent was given to the founders of the project.
  • 8.23 percent was allocated to equity investors.
  • 5.65 percent was kept for employee distribution.
  • 29.93 percent was distributed in the 2018 token sale.
  • 9.09 percent was distributed in the 2019 token sale.
  • 3.03 percent was set aside for the Reg A app mining program. This program rewards application developers and reviewers.
  • 22.20 percent was designated for a short-term treasury.

The future of Stacks 

The Stacks Network's future is poised for transformation with the forthcoming Nakamoto upgrade, representing a substantial leap in technological progress. This upgrade brings forth a spectrum of significant enhancements. Upon Nakamoto's implementation, Stacks will fortify its security by harnessing Bitcoin's hash power. This upgrade will also usher in noticeable speed improvements, empower atomic BTC swaps, and introduce a trust-minimized Bitcoin peg mechanism, among other noteworthy innovations.

STX FAQ

Is Stacks a Bitcoin layer 1 or layer 2 protocol?

Stacks operate as a layer that sits atop the Bitcoin network, facilitating the integration of smart contracts. While often associated with Layer 2 protocols due to its utilization of Bitcoin, Stacks stands as an autonomous network with the fundamental attributes of a Layer 1 blockchain.

How does Stacks compare to rollups?

Unlike rollups, which serve as scaling solutions, Stacks do not function as a layer network. However, with the forthcoming introduction of sBTC on Stacks, the platform can support rollup deployment on the Bitcoin network.. 

How do I buy and store STX?

Easily buy STX tokens on the OKX TR cryptocurrency platform. Available trading pairs in the OKX TR spot trading terminal include STX/USDT, STX/USDC, and STX/BTC. You can also swap your existing cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and USD Coin (USDC), for STX with zero fees and no price slippage by using OKX TR Convert.

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