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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.

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