A platform formerly called Blockstack, Stacks is a layer-1 blockchain solution looking to extend the functionality of the Bitcoin network with smart contracts and open and modular DApps, all without compromising its security, stability or other powerful features of Bitcoin or requiring a fork. Stacks utilises Bitcoin as base layer for all activities on the network and connects through its proof-of-transfer (PoX) consensus mechanism. Miners pay for the minting of new Stacks (STX) tokens in BTC. STX holders are also able to stack (not stake) their tokens and earn rewards in BTC. STX is also used in fueling the execution of smart contracts, in processing transactions and registering new digital assets on the Stacks 2.0 blockchain.
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