Stacks is a blockchain that enables smart contracts and decentralized applications for Bitcoin, using its native token STX for transactions and governance.
Description: Stacks (formerly Blockstack) is a layer-1 blockchain that connects to Bitcoin, allowing developers to build smart contracts and decentralized apps (dApps) that leverage Bitcoin's security and data. Launched in 2018, it uses a unique consensus mechanism called Proof of Transfer (PoX), which anchors transactions to Bitcoin. The STX token is used for transaction fees, executing smart contracts, and participating in protocol governance via stacking (locking tokens to earn Bitcoin rewards). Stacks aims to expand Bitcoin's utility beyond a store of value, enabling DeFi, NFTs, and other applications on the Bitcoin network. It is developed by the Stacks Foundation and Hiro Systems.
