What is STX? What is STX coin

STX, powered by the Stacks blockchain, seamlessly integrates smart contracts with Bitcoin, enabling dApp development and fostering a vibrant decentralized ecosystem within the Bitcoin sphere.

Oct 07, 2024 at 11:30 am

What is STX?

Definition: STX, short for Stacks, is a layer-1 blockchain designed to bring smart contract capabilities and decentralized applications (dApps) to Bitcoin.
Technical Overview: STX is built on a proof-of-work consensus mechanism, similar to Bitcoin. However, it introduces a new concept called "proof-of-transfer," where users can earn STX tokens for securing Bitcoin transactions.
Underlying Technology: STX utilizes the Clarity programming language, which is specifically designed for smart contracts on the Bitcoin blockchain. Clarity aims to be verifiable by both humans and machines, enhancing security and transparency.

What is STX Coin?

Purpose: The STX cryptocurrency is the native token of the Stacks blockchain. Its primary uses include:
- Securing the Stacks blockchain through proof-of-transfer.
- Facilitating transactions and smart contract execution on Stacks dApps.
- Staking to earn rewards and participate in governance.
Supply and Distribution: The maximum supply of STX is capped at 1.85 billion tokens. The initial distribution included a token sale, rewards for Bitcoin miners, and a community grant program.
Value Proposition: The STX coin provides value by:
- Enabling the development and deployment of dApps on the Bitcoin blockchain.
- Fostering a decentralized, self-sustaining ecosystem.
- Providing incentives for users to secure both the Stacks and Bitcoin blockchains.

Disclaimer:info@kdj.com

The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！

If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.

Fear & Greed Index

Trade Now

Biggest Gainers

A8

$0.3349

250.52%

Trade Now
SOS

$0.2900

141.53%

Trade Now
RED

$0.8302

44.07%

Trade Now
APU

$0.0...01886

39.72%

Trade Now
ZRO

$2.5020

29.49%

Trade Now
QUBIC

$0.0...01290

27.34%

Trade Now

Latest Crypto News

🚀 $USTC Breakout in Full Swing – Bulls Targeting $0.015
2025-03-16 11:30:55
Here are some advanced price predictions for Pepe Coin (PEPE) in 2030 from various sources:
2025-03-16 11:25:55
How Donald Trump Turned Cryptocurrency Into a Pyramid Scheme
2025-03-16 11:25:55
Dogecoin miners have unloaded 65 million icons in the last 48 hours
2025-03-16 11:25:55
BNB's Recent Performance Shows Promising Signs
2025-03-16 11:25:55
As its pre-sale moves forward quickly - the third stage token price is $0.02
2025-03-16 11:25:55

Related knowledge

What is Ethereum’s Slashing mechanism and how to punish malicious behavior?

Feb 20,2025 at 03:08am

Key PointsOverview of slashingDifferent types of slashing in EthereumIncentives and consequences of slashingIdentifying and reporting slashed validatorsOngoing discussions and potential improvementsEthereum's Slashing Mechanism: Punishing Malicious BehaviorEthereum's slashing mechanism is an essential tool for ensuring network security and punishing mal...

What is the verifier node of Ethereum and how to become a verifier?

Feb 19,2025 at 06:00pm

The Verifier Node of Ethereum: A Comprehensive GuideKey Points:What is a Verifier Node?How to Become a Verifier NodeResponsibilities and Rewards of a Verifier NodeMinimum Requirements for Becoming a Verifier NodePotential Difficulties in Running a Verifier Node1. What is a Verifier Node?A Verifier Node is an independent entity on the Ethereum network th...

What is Ethereum’s staking, and how to participate and earn money?

Feb 19,2025 at 04:37pm

Key Points:Understanding Ethereum's Staking MechanismSteps to Participate in StakingBenefits and Rewards of StakingSecurity and Risk ConsiderationsTechnical Requirements and Hardware OptionsPotential Challenges and Troubleshooting TipsFAQs on Ethereum StakingWhat is Ethereum's Staking?Proof-of-Stake (PoS) is a consensus mechanism used in blockchain netw...

What is Ethereum’s DAO (Decentralized Autonomous Organization) and how does it work?

Feb 20,2025 at 03:12am

Key PointsDefinition and Structure of a DAOGovernance and Decision-Making in DAOsBenefits and Use Cases of DAOsChallenges and Limitations of DAOsWhat is Ethereum's DAO (Decentralized Autonomous Organization) and How Does It Work?Definition and Structure of a DAOA Decentralized Autonomous Organization (DAO) is an innovative governance and management fram...

What is Ethereum's multi-signature wallet and how to improve security?

Feb 20,2025 at 02:18pm

Key Points:Understanding the Concept of a Multi-Signature WalletBenefits and Drawbacks of Multisig WalletsRequirements for Setting Up a Multisig WalletStep-by-Step Guide to Generating a Multisig WalletImplementing Strategies for Enhanced Security1. Understanding the Concept of a Multi-Signature WalletA multi-signature (multisig) wallet in the Ethereum e...

What is Ethereum's oracle and how to provide data for smart contracts?

Feb 21,2025 at 01:30am

Key Points:Understanding the concept of oracles in EthereumExploring different types of oraclesDetailed guide on how to provide data for smart contractsAddressing potential challenges and considerationsWhat is Ethereum's Oracle?Oracles are crucial components in the Ethereum ecosystem, enabling smart contracts to access real-world data and off-chain even...