Stacks is a blockchain that enables smart contracts and decentralized applications (dApps) using Bitcoin as a secure base layer. It introduces a unique consensus mechanism called Proof of Transfer (PoX) that connects to Bitcoin's security.
Description: Stacks (formerly Blockstack) is a layer-1 blockchain that brings smart contracts and decentralized applications to Bitcoin. Launched in January 2021 after a three-year development period, Stacks uses a novel consensus mechanism called Proof of Transfer (PoX), which anchors its security to Bitcoin's proof-of-work. This allows Stacks to inherit Bitcoin's security while enabling programmability. The native token, STX, is used for transaction fees, executing smart contracts, and participating in consensus via stacking (locking STX to earn Bitcoin rewards). Stacks aims to unlock Bitcoin's full potential by enabling DeFi, NFTs, and other dApps on the Bitcoin network. The project was co-founded by Muneeb Ali and Ryan Shea, with initial development by Blockstack PBC (now Hiro Systems PBC). Stacks has a growing ecosystem of applications and is listed on major exchanges like Binance, Coinbase, and Kraken.
