All you need to Know About Stacks

Stacks makes Bitcoin programmable, enabling decentralized apps and smart contracts that inherit all of Bitcoin’s powers.

Features of Stacks

UnstoppableOnce deployed on Stacks and settled on Bitcoin, code can’t be taken down. This is essential for critical internet infrastructure.

Data ownershipDecentralized apps don’t store user data on centralized servers. Instead, data is owned by the user and can be taken from app to app.

Open to anyoneAnyone with an internet connection can use or build Stacks apps. You don’t need anyone’s permission and you can’t be blocked from Stacks.

ModularDecentralized apps are open and connected by default. This enables developers to build on top of each other’s apps and prevents users from getting locked in.

New business modelsTokens enable developers to monetize open-source protocols, incentivize contribution and come up with business models that weren’t possible before.

The best of BitcoinAll Stacks transactions settle on the Bitcoin blockchain, making apps and transactions as secure as a Bitcoin transaction. Apps on Stacks can include Bitcoin-based logic.

The Technology used by Stacks

Bitcoin

Bitcoin is used for settlement and security and is the reserve asset of the Stacks network. Stacks makes no modification to the Bitcoin design. It uses Bitcoin to settle transactions on the Bitcoin blockchain every block. This makes all Stacks transactions inherit Bitcoin’s finality and settlement because Stacks transactions can be verified on the Bitcoin blockchain.

Proof of Transfer

Proof of Transfer (PoX) is the consensus mechanism between Stacks and Bitcoin. Proof of Transfer is a mining mechanism that provides a new take on consensus, allowing for a Proof of Work chain (in this case, Bitcoin) to be leveraged and extended in important new ways. All Stacks transactions settle on Bitcoin, and this enables Stacks transactions to benefit from Bitcoin’s security.

Stacks blockchain

The Stacks blockchain is a flexible layer on top of Bitcoin that enables decentralized apps, smart contracts, and digital assets. Like Bitcoin, Stacks is a layer-1 blockchain. Proof of Transfer connects it to Bitcoin with a 1:1 block ratio.

Clarity

Clarity is a safe and predictable language for smart contracts. Clarity smart contracts have visibility into the Bitcoin state and can include Bitcoin-based logic. Clarity is an upgrade to existing smart contract languages that are rife with features that cause more harm than good. Bugs or malice in smart contracts causes large-scale and irreversible harm.

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Dislcaimer

this news and reviews blogs are only to educate, inform and deliver information to the public and is not an investment advice. Nothing should be taken as an offer to buy, sell or hold any cryptocurrency