Buying Stacks (STX) is easy!

Why buy Stacks (STX)? 

The benefits buying in Stacks (STX) offers unique benefits. It was the first Layer 1 to bring smart contracts, and thus the universe of programmability invented by Ethereum in the crypto world, onto the Bitcoin blockchain. This means that thanks to Stacks, it is possible to exchange NFTs and use decentralised applications and exchanges on Bitcoin’s network.

To decide whether to buy Stacks (STX), you also need to know about Stacking, which, although similar, differs from the more popular ‘staking’. By stacking STX tokens—the term comes from this blockchain’s very name—you receive Bitcoin rewards. They derive from this network’s particular consensus mechanism, made secure by the BTC transfers made by its validators.

What it is and how it came into being 

To evaluate whether to buy Stacks (STX), you need to know that it is a Layer 1 blockchain that relies on Bitcoin to secure its network. To do so, it uses a particular consensus mechanism called Proof-of-Transfer. In contrast to networks that use a PoS-type consensus mechanism, it is unnecessary to stake STXs to participate in transaction validation. Instead, one must make BTC transfers to specific addresses predetermined by the network.

Furthermore, Stacks uses Bitcoin’s blockchain as a database and a means of communication, storing all historical transaction information – in jargon, the state – on it. In other words, Stacks exploits Bitcoin as a kind of ‘hard disk’. An auction mechanism chooses the miner who will validate the block (block leader), which is won by whoever transfers the most considerable value.