Bitazza Token Listing Announcement: STX — Get to Know Stacks

We’re excited to announce that Stacks (STX) is now listed on Bitazza! 

You can now buy, sell, and trade Stacks along with over 80 different cryptocurrencies!

We’ve added STX alongside four other tokens which you chose during Freedom DAO Vote #4. In addition to STX, we’re listing Filecoin (FIL), Celestia (TIA), Space ID (ID) and Fetch.ai (FET).

What is Stack (STX)?

Stacks (STX) is a token developed by Stacks, the decentralized computing network, and app ecosystem, launched in 2017. Stacks aims to create a decentralized internet where users have more control over their data and identities.

Stacks serves as the native token within the Stacks ecosystem, facilitating transactions and smart contracts on the network.

Stacks became the first company to receive approval from the Securities and Exchange Commission (SEC) to sell STX digital tokens in an initial coin offering (ICO) in 2019. However, the tokens could not be traded in the US at the time because of the SEC’s Regulation A+ exemption.

Since the introduction of Stacks Blockchain 2.0 on January 14, 2021, US investors can trade STX on US digital asset exchanges, as Stacks’ network is no longer controlled by any single entity. Therefore, STX can no longer be considered a security under SEC regulations.

What does Stacks do?

Stack serves several purposes and plays a vital role within the Stacks ecosystem. These include payments for digital goods and services, execution of smart contracts, incentives and rewards for developers for building and contributing to the network, and participation in the governance of the Stacks ecosystem

How do Stacks consensus and network validation work?

Stack operates on a unique consensus mechanism known as proof-of-transfer (PoX). PoX is designed to ensure network security and enable decentralized validation while also incentivizing participation and distribution of STX holders

Stacks also leverages the security of the Bitcoin blockchain by periodically anchoring (or recording) Stacks transactions onto the Bitcoin blockchain. This process ensures that the security of Bitcoin, with its robust proof-of-work (PoW) consensus mechanism, indirectly contributes to the security of the Stacks network.

Under PoX within the Stacks ecosystem, participants can earn STX by transferring Bitcoin to a designated mechanism. This Bitcoin is effectively burned (made unspendable) in this process. By transferring Bitcoin, participants demonstrate their commitment to the Stacks network’s security and decentralization.

Moreover, the incentivized participation of STX holders requires consensus and validation mechanisms from validators in the Stacks network in order to process transactions. This maintains the integrity of the blockchain and achieves a high level of security and decentralization within the ecosystem.

What is the maximum token supply of STX?

Stacks is limited to a maximum of 1.8 billion STX. 

Trade Stacks Today!

You can now trade Stacks along with over 80 other cryptocurrencies on Bitazza Global, in both the application and the website.

Learn how to trade Stacks and other cryptocurrencies effortlessly on the Bitazza Global website. ➡️ https://trade.bitazza.com/gl/exchange 

Source

• https://docs.stacks.co/ 
• https://www.investopedia.com/terms/b/blockstack.asp 

---

Disclaimer

Cryptocurrencies and digital tokens involve high risks; investors may lose all investment money and should study information carefully and make investments according to their own risk profile. 

Past performance does not guarantee future performance.

 

You might also like

---

More from Blockchain

---