They were able to hold an SEC-qualified sale of STX tokens in July 2019.īy October 2019, there were more than 300 applications built on Stacks. They also worked with the SEC for almost a year to meet its qualifications for a token sale. The testnet was followed by the release of the mainnet in October 2018. They launched the first testnet for the blockchain, called the Stacks network, in the second quarter of 2018. The Blockstack team spent years on research and development and securing funding. They originally named it Blockstack and released the platform design for it in 2015. Co-founders Muneeb Ali and Ryan Shea started working on the idea in the Princeton University computer science department. Stacks has a lengthy development history dating back to 2013. An advantage of Clarity over other smart contract languages is that users can set up their own conditions for transactions and aren't limited to preprogrammed conditions. It has its own smart contract language called Clarity.Stacks is limited to the same block times as Bitcoin, but, by dividing blocks into microblocks, it can reduce processing times from minutes to seconds. It uses microblocks to speed up transaction processing.Proof of transfer makes Stacks highly scalable and decentralized without causing additional environmental impact. It uses a consensus mechanism called “proof of transfer” that recycles Bitcoin's proof-of-work system.Here are a few that are worth mentioning: Stacks has several interesting features that make it stand out. Stacks' dApps can also interact with Bitcoin even though it's a separate blockchain. This means Stacks leverages Bitcoin's high level of security since Stacks' transactions are settled on Bitcoin. Most programmable blockchains, such as Ethereum ( CRYPTO:ETH), start from scratch. The unique thing about Stacks is that it links to Bitcoin and turns the Bitcoin blockchain into a programmable base layer. Like other programmable blockchains, Stacks has smart contract functionality, meaning it can be used for dApps and non-fungible tokens (NFTs). Source: Getty Images What makes Stacks unique?
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