Stacks (STX)
Summary
Stacks (STX) in Summary
Stacks is a layer-1 blockchain solution that is designed to bring smart contracts and decentralized applications (DApps) to Bitcoin (BTC). These smart contracts are brought to Bitcoin without changing any of the features that make it so powerful — including its security and stability.
The platform is powered by the Stacks token (STX), which is used for fueling the execution of smart contracts, processing transactions and registering new digital assets on the Stacks 2.0 blockchain.
Stacks was initially funded by a range of prominent venture capital funds, including Y Combinator, Digital Currency Group and Winklevoss Capital. It was developed by Blockstack PBC, which has its headquarters in New York.
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