STX

Stacks is a layer-1 blockchain network designed to bring smart contracts and decentralized applications to Bitcoin without altering the foundational security and stability of the Bitcoin blockchain itself. Launched originally as Blockstack before rebranding, the project introduces a novel consensus mechanism known as Proof of Transfer, which links the Stacks network directly to Bitcoin and allows the network to settle transactions natively on the Bitcoin blockchain. The native utility token, STX, plays a central role within the ecosystem by being used to pay transaction fees, incentivize network participants through mining processes, and participate in stacking, a mechanism where holders lock up their tokens to earn native Bitcoin rewards. By utilizing Clarity, a decidable smart contract language, Stacks enables developers to build sophisticated applications, decentralized finance protocols, and non-fungible tokens that leverage Bitcoin's massive economic capital and robust network security.