Stacks blockchain – Wikipedia
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Bitcoin smart contract platform
Stacks, formerly Blockstack, is an open-source platform to enable smart contracts, DeFi, NFTs, and apps for Bitcoin.[1] Stacks blockchain is a “layer” for Bitcoin similar to the Lightning Network.[2] In addition to smart contracts, the Stacks project provides open-source software for authentication, and data storage.[3]
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Concerns around internet privacy, security, and data breaches brought attention to the Stacks project.[4] Software developers have used the Stacks software to build decentralized alternatives to popular services.[5][6][7] Stacks (STX) token is the native cryptocurrency of the Stacks blockchain, which is used as gas fee for executing smart contracts and processing transactions.[8]
History[edit]
Stacks project was originally started by Muneeb Ali and Ryan Shea as Blockstack.[9] STX became the first SEC qualified token offering in 2019.[10][11] Blockstack PBC, a company working on the Stacks technology, raised around $75 million through a mix of venture capital and token sales.[9] The main Stacks blockchain launched in Jan 2021.[12]
Applications[edit]
Blockchain Naming System (BNS)[edit]
The Blockchain Naming System is an application used to register human-readable, globally unique names with accounts on the Stacks blockchain. A BNS name consists of a namespace, the name and optionally a subdomain.[13] Examples are muneeb.id, muneeb.btc and muneeb.id.blockstack.
CityCoins[edit]
The CityCoins project has launched fungible tokens for the cities of Miami and New York City.[14][15] In September 2021, Miami’s city commissioners voted to accept the protocol treasury,[needs context] valued at $21 million at the time.[16] MiamiCoin’s value crashed, and so Stacks donated $5.25M to the City of Miami.[17]
References[edit]
- ^ Crawford, Max (2022-04-27). “Bitcoin Ecosystem: An Overview of Bitcoin Smart Contracts and How They Work”. Hiro.so. ISSN 0029-7712. Retrieved 2022-10-11.
- ^ “Blockstack anchors to Bitcoin network with new mining algorithm”. ZDNet.
- ^ Mühle, A.; Grüner, A.; Gayvoronskaya, T.; Meinel, C. (November 2018). “A Survey on Essential Components of a Self-Sovereign Identity”. Computer Science Review. 30: 80–86. arXiv:1807.06346. Bibcode:2018arXiv180706346M. doi:10.1016/j.cosrev.2018.10.002. S2CID 49867601.
- ^ Singh, Harminder (1 October 2017). “‘New internet’ looks to keep user data away from tech giants and bypass China censorship”. South China Morning Post.
- ^ Fung, Brian (23 March 2018). “The new technology that aspires to #DeleteFacebook for good”. The Washington Post.
- ^ Dillet, Romain (5 September 2018). “Stealthy wants to become the WeChat of blockchain apps”. TechCrunch`.
- ^ Simonite, Tom (5 March 2018). “The Decentralized Internet Is Here, With Some Glitches”. Wired Magazine.
- ^ Daly, Lyle (10 Jun 2022). “What is Stacks (STX)?”. The Motley Fool. Retrieved 28 September 2022.
- ^ a b “Blockstack raises $52 million to build a parallel internet where you own all your data”. VentureBeat. 2017-12-04. Retrieved 2021-06-22.
- ^ SEC. “PART II — INFORMATION REQUIRED IN OFFERING CIRCULAR”. www.sec.gov. Retrieved 2021-06-22.
- ^ Vigna, Paul (2019-07-11). “SEC Clears Blockstack to Hold First Regulated Token Offering”. Wall Street Journal. ISSN 0099-9660. Retrieved 2021-06-22.
- ^ Chavez-Dreyfuss, Gertrude (2020-12-07). “Blockstack’s digital currency ‘Stacks’ to be tradable in U.S. once new blockchain arrives”. Reuters.
- ^ “sebis TU München : Master’s Thesis Martin Schäffner”. wwwmatthes.in.tum.de. Retrieved 2023-01-22.
- ^ Brown, Dalvin (2021-09-30). “Crypto tax: ‘MiamiCoin’ has made the city $7 million so far, a potential game-changer for revenue collection”. Washington Post.
- ^ Chen, Elaine (2021-11-03). “Eric Adams Aims to Make NYC Crypto-Friendly With Coin Similar to Miami’s”. Bloomberg.
- ^ Greely, Brendan (2021-11-03). “MiamiCoin, a currency without sovereignty”. Financial Times.
- ^ Benavides, Cristian (February 3, 2022). “Miami Announces It Cashed Out Some MiamiCoin as Crypto Markets Are Down”. NBC 6 South Florida. Retrieved 2022-04-13.
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