What are Stacks?
Stacks (STX) is a platform that deals with the Stacks blockchain network. Stacks network is a layer-1 blockchain convention that is expected to bring shrewd agreements and decentralized applications (dApps) to the Bitcoin organization.
Stacks can be traded on various cryptographic cash exchanges, similar to Binance, Huobi, and OKX. These trades license clients to exchange Stacks for other cryptographic types of cash or government-issued currency. In any case, it’s fundamental to observe that Stacks isn’t a crypto exchange itself. Likewise, this cryptocurrency can be traded on various exchanges, yet it doesn’t work in its own exchange.
What is Stacks ID?
Stacks ID is a decentralized identity arrangement offered by Stacks. It permits users to create and deal with their computerized identities on the Stacks network. Stacks ID gives users more noteworthy command over their own information and protection, while additionally empowering consistent integration with decentralized applications (dApps) in the organization. Stacks ID assists with forestalling data fraud, data breaches, and different types of computerized fraud.
Is Stacks a legit site?
Indeed, Stacks is a genuine site. Stacks is a blockchain project that expects to carry smart contracts and decentralized applications to the Bitcoin organization. The project has a group of experienced developers and has been upheld by trustworthy financial backers like Coinbase Ventures and Winklevoss Capital.
Pros and Cons of Stacks
1. Collaborating with Bitcoin
Stacks network is expected to carry smart contracts and dApps to the Bitcoin organization, which is the most comprehensively used and prominent digital cash. This incorporation licenses Stacks to utilize the security and association effects of Bitcoin.
2. Staking Rewards
Stacks holders can acquire rewards by marking their STX tokens, which can boost long-haul holding and add to the network’s security.
How might I Purchase Stacks (STX) Tokens?
Stacks (STX) tokens can be traded on different cryptographic money trades, like Binance, Huobi, and OKEx. Users can purchase STX tokens utilizing other digital forms of money or government-issued types of money, contingent upon the trade.
3. Decentralized Applications
Stacks network enables the advancement of decentralized applications, which can give clients more assurance, security, and control over their data and assets.
4. Energy-Proficient Consensus Mechanism
Stacks utilizes a Proof of Transfer (PoX) consensus mechanism, which is more energy-effective than the Proof of Work (PoW) utilized by Bitcoin and other digital currencies.
1. Restricted Adoption
While Stacks is an innovative project, it still can’t seem to acquire widespread reception compared with other blockchain networks.
Stacks faces competition from other blockchain networks that additionally enable the improvement of decentralized applications, like Ethereum and Polkadot.
3. Network Blockage
Like other blockchain networks, Stacks can encounter network clogs during times of high use, which can prompt more slow exchange times and higher expenses.
4. Regulatory Dangers
Similarly, as with any digital money, Stacks faces risks as governments worldwide keep on creating regulations for the crypto business.
Services Provided by Stacks as of 2023
Starting around 2023, Stacks offers the accompanying services:
1. Smart Contracts
Stacks empower the advancement of smart contracts and decentralized applications in the Bitcoin organization, permitting developers to assemble imaginative and secure applications.
Stack holders can partake in the network’s agreement component by staking their STX tokens and acquiring rewards.
What is Stacking on the Stacks?
Stacking on the Stacks network is a process where users secure their STX tokens to partake in the network’s agreement system and procure rewards. Stacking helps with securing the network and boosting the long-haul holding of STX tokens. Stacks utilizes a remarkable agreement component called Proof of Transfer (PoX), which permits clients to partake in an agreement without expecting to perform energy-intensive computations like Proof of Work (PoW) agreement systems.
Could you make money on Stacks?
Indeed, making money on Stacks is conceivable. Stacks (STX) tokens can be traded on different digital money trades, and clients can procure prizes by partaking in the organization’s mechanism through a process called stacking. In any case, it’s vital to take note that cryptographic money markets are profoundly unpredictable and putting resources into digital currencies accompanies innate dangers.
3. Decentralized Identity
Stacks gives a decentralized personality arrangement called Stacks ID, which permits users to make and deal with their digital identities on the Stacks network.
4. Stacks Wallet
Stacks offers a non-custodial wallet that permits users to store and deal with their STX tokens safely.
5. Clarity Programming Language
Stacks utilizes another programming language called Clarity, which is intended to make smart contracts safer and more straightforward to audit.
One interesting service presented by Stacks is its incorporation with the Bitcoin network, which permits developers to use the security and organization impacts of Bitcoin while building decentralized applications on the Stacks network. Furthermore, Stacks’ utilization of the Proof of Transfer(PoX) mechanism is a more energy-proficient option in contrast to the Proof of Work (PoW) utilized by Bitcoin and other digital forms of money.
What is Clarity?
Clarity is a programming language that is utilized by Stacks to compose smart contracts. Clarity is intended to be secure, predictable and straightforward. Clarity’s design guarantees that developers can undoubtedly and officially check their smart contracts to limit the risk of bugs and vulnerabilities. Its transparency and security make it simple to review and audit smart contracts, in any event, for non-specialists.
Are Stacks Safe?
Stacks, similar to some other cryptographic money or blockchain project, accompany a few intrinsic risks. Nonetheless, Stacks has executed a few safety efforts to guarantee the well-being of its clients and the network:
- Smart contract security: Stacks utilizes another programming language called Clarity which is intended to make brilliant agreements safer and more straightforward to review.
- Decentralization: Stacks is a decentralized network, and that truly intends that there is no main issue of control or failure. This can make it harder for programmers to go after the organization.
- Stacks Wallet: Stacks offers a non-custodial wallet that permits clients to safely store and deal with their STX tokens.
- Open-source software: Stacks is an open-source project, and that implies that the code is transparent and can be reviewed by anybody. This can assist with recognizing and addressing security weaknesses.
Is Stacks a Good Place to Sell NFT?
Stacks basically revolved around enabling smart contracts and decentralized applications on the Bitcoin network. While making and selling NFTs on Stacks is achievable, it may not be the most notable stage for NFTs. There are other blockchain stages, for instance, Ethereum and Solana that have a greater NFT system and are more gotten comfortable with the NFT market.
Do Stacks Have Fake NFT?
Stacks is a decentralized blockchain organization, and that suggests that anyone can make and mint NFTs on the stage. While Stacks doesn’t have fake NFTs, it’s important for users to do what needs to be done and ensure that they are buying NFTs from trusted sources. It’s moreover fundamental to observe that NFTs, as other advanced types of cash, are obligated to feature market speculation and can be subject to counterfeit activities.
Here are some factors that investors should consider before investing in Stacks.
|Cryptocurrency Features||Stacks (STX)|
|Publisher or Developers||Muneeb Ali|
|Headquarters (Registration Number)||New York|
|Published Date (CMC Registration)||2019-10-28|
|Max Supply||1,818,000,000 STX|
Reliability Score of Stacks in 2023
These are indexes mesuring the investment reliability of Stacks conducted by Coin-Labs.
|Investment Reliability Rating Items||Scores and Current Status|
|Company Activation Rate||/ 10.0 CAR|
|Communication Rate||/ 10.0 CR|
|Technology Transparency Rate||/ 10.0 TTR|
|Development Participation Rate||/ 10.0 DPR|
|Listing Status on the World's Top 10 Exchanges||Listed on 7 Exchanges|
|Number of Available Pairs Worldwide||85 Pairs|
|Market Cap of the Cryptocurrency||1,743,084,639,145 KRW (Rank #42)|
Here are the price and recent trading volume of Stacks. (Data of 2023-03-30 14:02:24)
|Price Items||Price and Trading Volume of Stacks|
|Stacks Price||1,273.900 KRW|
|Price Change 24h||-0.05%|
|Price Change 7d||-14.85%|
|Trading Volume 24h||419,062,874,729 KRW|
|Trading Volume Change 24h||52.86%|
You can check the development status and social media information of Stacks through the links in the table below.
|🌎 Official Website||https://stacks.co|
|📖 White Paper||https://gaia.blockstack.org/hub/1AxyPunHHAHiEffXWESKfbvmBpGQv138Fp/stacks.pdf|
|🛰️ Source Code (GitHub)||https://github.com/stacks-network|
|🎺 Message Board||https://blog.stacks.co/|
Where to Buy Stacks
Here are the top ten world crypto exchanges where traders can buy Stacks in 2023.
|Top10 Exchanges||Listed Status||Page URL|
Frequently Asked Questions
What is the current price of Stacks?
Stacks price today is 1,273.900 KRW. Furthermore, the price of Stacks has fluctuated by -0.05% from 24 hours ago, and by -14.85% from a week ago.
Where is Stacks listed?
Currently, it is listed on a total of 7 among the world top 10 exchanges.
What is the market cap of Stacks now?
Currently, Stacks has a market cap of 1,743,084,639,145 KRW, which is ranking 42 among cryptocurrencies worldwide.
How much is the trade volume of Stacks?
Currently, 1,368,305,227 STX coins are circulating through 85 market pairs. As a result, in the last 24 hours, 419,062,874,729 KRW of STX coins were traded in the market.