Stacks/STX#83 45

What is Stacks (STX)?

Stacks (STX) is a blockchain project that was developed to introduce decentralized apps (Dapps) and smart contracts for Bitcoin to build decentralized financial (DeFi) applications and NFTs. Bitcoin(BTC) can only be used for processing transactions, but with the introduction of Stacks, now it has expanded to build smart contracts and Dapps on top of it using the Stacks programming language known as ‘Clarity’, without altering the original blockchain.

Operates on a Proof-of-Transfer(PoT) mechanism and was originally known as Blockstack, the project was co-founded by Muneeb Ali and Ryan Shea in 2017, allowing individuals to own and control their data, providing security.

Blockstack was the first company to get approval from the U.S. Securities and Exchange Commission to sell Stacks (STX) coins to raise funds in 2019. At that time, U.S. investors were not allowed to trade STX coins at U.S. exchanges. 

Blockstack’s Stack Blockchain 2.0 was launched in 2021, where it became decentralized, allowing U.S. investors to trade on U.S. crypto exchanges, and then the Stacks (STX) was no longer listed as securities.

Stacks has undergone a major upgrade known as the Nakamoto Release, which was activated on 28th August 2024 to speed up the stacks transactions. 

How does Stacks work?

Stacks transactions are settled in the Bitcoin blockchain, where both are connected by a key mechanism known as Proof-of-Transfer (PoX). 

Proof-of-burn was initially proposed to validate the transactions. The miners using this mechanism have to burn a cryptocurrency of an existing blockchain to ensure that they are committed to the network.

Instead of burning a cryptocurrency, they adopted a Proof-of-Transfer mechanism where a Bitcoin transaction is sent to a predetermined address to secure the Stacks blockchain. 

Only upon transferring the Bitcoin, the miners are selected to produce the blocks in the Stacks blockchain. To do so, the miners have to buy the bitcoins from the marketplace. To compensate for this cost, they are rewarded with STX coins. 

Stacks (STX) Coin

STX is a digital currency of the Stacks project used as a transaction fee and to publish a new smart contract on the Stacks blockchain. It was launched through an ICO in July 2019 at a base price of around $0.213, raising $23 million in funds.

As of 2024, the coin recorded an all-time high price of $3.84 on April 1, 2024, and an all-time low price of $0.04501 on March 13, 2020.

Where to buy STX Coin?

STX coin is traded on 40+ crypto exchanges in the market; some popular centralized exchanges supporting STX coin are Binance, Coinbase, OKX, Bybit, Kraken, KuCoin, and Crypto.com.

some popular decentralized exchanges supporting STX coin are ALEX, ChangeNOW, and PancakeSwap.

Wallets for STX Coin:

Security, cost-effectiveness, and user-friendliness are the important factors to consider while selecting a wallet for STX Coin. 

Some of the best wallets for STX coins are Xverse, Asigna, Blockchain.com, Orange Wallet, and Leather.

Stacks (STX) Price Prediction 2024-2030:

Stacks (STX) has seen an increase in value in recent years due to its growing usage and demand. 

As per Coinpedia, Stacks (STX) is going to experience a bullish trend by the end of 2024. The coin will reach a potential high price of $3.22 and a potential low price of $1.23.

Stacks (STX) Price 2025:

For 2025, the Stacks (STX) price is projected to range between $4.01 and $2.33.

Stacks (STX) Price 2026:

For 2026, the Stacks (STX) price is projected to range between $5.24 and $3.12.

Stacks (STX) Price 2027:

For 2027, the Stacks (STX) price is projected to range between $6.76 and $3.99.

Stacks (STX) Price 2028:

For 2028, the Stacks (STX) price is projected to range between $8.81 and $4.67.

Stacks (STX) Price 2029:

For 2029, the Stacks (STX) price is projected to range between $10.57 and $5.46.

Stacks (STX) Price 2030:

Finally, for 2030, the Stacks (STX) price is projected to range between $13.93 and $6.35.