Credit: Original article published by Crypto Briefing Blog.

Blockstack’s soon-to-be-launched blockchain offers developers smart contracts anchored to Bitcoin and investors new ways to earn BTC. 

Delegate Tokens, Earn Bitcoin

Stacks 2.0 is a Layer-1 blockchain based on the Proof-of-Transfer (PoX) mining consensus and uses Bitcoin as the base layer for providing security to decentralized apps (dApps). 

The team behind Stacks 2.0, Blockstack, has developed a custom set of tools and a novel programming language called Clarity for the new blockchain. 

The custom tools will allow developers to build smart contracts anchored to the Bitcoin blockchain. According to Blockstack, smart contracts could unlock a new age of DeFi apps for the largest crypto asset.

STX is the native token for Stacks 2.0 blockchain, allowing holders to participate in the consensus through a staking-like mechanism called “Stacking.” 

Stacking participants delegate their STX to participate in blockchain governance and are paid in BTC rewards. This means that Stacks 2.0 gives users a new alternative to earn Bitcoin without spending money on expensive mining equipment.  

Exchanges Set to List STX

Blockstack first issued STX during the first-ever SEC-regulated security token offering. 

The token was issued as a security asset and used in the Stacks 1.0 blockchain’s governance. However, the security token was not eligible to be listed on cryptocurrency exchanges.

The core team later released a memo that clarified that STX was no longer considered security in the Stacks 2.0 chain as the network became decentralized and outside the control of Blockstack. 

Due to a recent change in the token’s legal status, STX is set to be listed on cryptocurrency exchanges soon after Stacks 2.0 mainnet goes live. 

OKCoin, a leading crypto exchange, has committed to listing STX upon the launch. OKCoin will also conduct the biggest airdrop to date for its customers, worth $1 million in STX tokens.

This article is strictly for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. CryptosOnline.com does not provide investment, tax, legal, business or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any loss or damage caused or alleged to be caused by, or in connection with, the use of or reliance on any content, goods, services or opinions mentioned in this article.

Categories:

Tags:

Comments are closed

Translate

Visit Our Other Websites

EdgyBranding.com - Premium Domain Names.

Notezi.com - Social Network

Dexize.com - Ultra-Priviate DEX.

ClassicAutomobile.org - Classic Automobile News.