Bitcoin had come a long way. Bitcoin’s blockchain code is great for security, but it cannot handle today’s top crypto features. Stacked (STX) brings it to the next level. Stacks allow Bitcoin’s functionality and scalability to be extended without changing its core code.
Bitcoin gets programmable with Stacks (STX). The second layer extends its functionality and scalability without changing the core code. Stacks enables developers to build Dapps, smart contracts, and digital assets that share Bitcoin's decentralization and security.
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How does it work?
Although Stacks is an independent entity, it uses Bitcoin in its core process. Stacks uses the Bitcoin blockchain for transactions, and its nodes earn Bitcoin rewards. Bitcoin also serves as the platform's reserve asset.
How does Stacks (STX) attempt to solve problems?
Stacks solves a major problem with Bitcoin: its inherent limitations. Stacks alleviates these concerns by using Proof of Transfer, microblocks, and Clarity, an entirely new programming language. Bitcoin is still the leader of cryptocurrencies. Nonetheless, the coin existed long before smart contracts or DeFi.
Satoshi Nakamoto chose a limited programming language so hackers couldn't sneak in malicious code. This code was great for security, but it couldn't handle today's top crypto features. Stacks' second-layer solutions provide developers with the programmability of fourth-generation blockchains and the liquidity and security of Bitcoin.
Stacks attempts to solve and address various topics such as security issues, scalability, developer restrictions, censorship, and many more.
Shortly about the Stacks (STX) coin/token itself.
Within the Stacks protocol, STX plays a number of roles. STX serves as the native utility for the network. STX is needed to run Dapps and smart contracts. For a small fee, developers can publish smart contracts on STX. Using the token as a cryptocurrency, you can send value around the world.
Stacks uses the Proof of Transfer (PoX) consensus mechanism. It's a custom protocol that connects Stacks and Bitcoin. You don't need traditional bitcoin miners. Instead, stackers send Bitcoins to nodes that handle computational work.
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