On January 4, Stacks (STX) was launched on HotsCoin. Stacks is a public chain project dedicated to building upper-layer applications based on Bitcoin. It was established in 2015. STX is currently open for trading on HotsCoin.
1. Basic information
Stacks is a public chain project dedicated to building upper-layer applications based on Bitcoin. It was established in 2015. Through the iteration of two versions, Stacks has made great progress in the development of smart contracts on the Bitcoin chain. The mainnet version Stack 2.0 was successfully launched on January 14, 2021. Currently, the project is performing well in terms of funding, code iteration, and ecological construction, attracting the participation of many developers.
2. Technical characteristics
Consensus mechanism and smart contract language: Stack 2.0 adopts the new consensus mechanism PoX, using Bitcoin as the basic chain and Stacks 2.0 as the connecting chain, realizing the combination of the security of the Bitcoin network and the smart contract development of the Stacks network. The smart contract uses Clarity language, which has built-in SPV and can read data on the Bitcoin chain while optimizing predictability and security.
Transaction volume and DApp ecology: After the launch of Stack 2.0, DApp store, App Mining and other functions have been launched. There are currently more than 500 DApps. Some of the more practical applications such as BlockSurvey and Pravica have already gained a certain user base.
Scalability and security: Stack 2.0 is optimized relative to Ethereum in terms of scalability and the way BTC participates. Throughput and speed are improved through technologies such as microblocks, with a focus on reducing the likelihood of smart contract errors and attacks.
3. Economic Model
Token supply and demand: STX is the token of Stack 2.0. The initial supply is 1.32 billion. It is issued at a certain inflation rate every year and is expected to reach 1.842 billion by 2050. The main uses of STX include paying smart contract fees, transaction fees, and as an incentive for miners and developers.
Token distribution and release: The distribution of STX has gone through multiple rounds of issuance, and the current total supply is 739,781,894 STX. The release of tokens starts from the Genesis block. A larger amount of STX will be released in 2021, and will gradually stabilize thereafter. The additional issuance of tokens is mainly through mining and is carried out according to a floating issuance rate.
4. Future Outlook
The Stacks project has unique technical advantages in the field of Bitcoin smart contracts, and its ecological construction is gradually enriched. Future development directions include improving network performance through micro-blocks, improving smart contract language, and attracting more developers and users to participate. Overall, Stacks 2.0, as a newly launched mainnet, has demonstrated good product iteration and development trends and is expected to play an important role in the Bitcoin ecosystem.
5. Risk factors
Token supply: As the years go by, the total supply of STX will gradually increase, which may have a certain impact on the long-term value of the token.
Ecological development: Although there are currently many DApps online, ecological development is still in its early stages, and it is necessary to pay close attention to the speed and quality of ecological construction.
Competition risks: Competition in the field of Bitcoin smart contracts is fierce, and technological and ecological advantages need to be continuously improved to cope with competitive challenges.
6. Summary and suggestions
As a pioneer of Bitcoin smart contracts, Stacks has demonstrated strong technical strength and ecological potential. On the basis of a good technical foundation, it is recommended to pay attention to the expansion of its ecology, the construction of the developer community and the deep integration with the Bitcoin network. At the same time, we should pay close attention to the supply of tokens, carefully evaluate investment risks, and recommend that investors make wise investment decisions based on their own risk tolerance.
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