What Is Blockstack (Stacks)?
Stacks(STX), formerly Blockstack, is a decentralized, blockchain-powered Internet platform launched in 2017 that provides users with complete ownership and control of their personal data. Network applications that use the data are run directly on the user’s web browser; to access all features on Stacks(STX), only a compatible browser is needed.
On January 14th, 2021, with the launch of Blockstack’s Stacks Blockchain 2.0, U.S. investors can now trade Stacks tokens on digital asset exchanges in the United States since Blockstack’s network is no longer operated by a single entity. As a result, its Stacks token will not be considered as a security in accordance with SEC regulations.
Summary
- Stacks(STX) is a decentralized computing platform, built on blockchain technology, that focuses on individual control of online data and identity.
- Through Stacks(STX) , users choose which data to share, whom to share it with, and who stores their data, while application developers can’t access the data.
- The system utilizes applications that are run locally on a user’s local machine.
- In 2019, the Securities and Exchange Commission (SEC) approved the issuance of “stacks,” (STX) tokens, raising over $23 million.
- To win the approval, Stacks(STX) had to work closely with the SEC to develop a protocol from scratch; it was the first digital token offering under Regulation A+.
Understanding Blockstack (Stacks)
Blockstack does not require users to transmit their data to a third-party platform, such as Facebook or WhatsApp. Instead, it uses decentralized applications (dApps) built on blockchain technology that enable customers to keep ownership of their information (texts, pictures, videos, documents etc.) and share it with others. These apps run directly in the user’s browser.
The decentralized security provided by blockchain technology allows Blockstack users to create their own identities on the network with digital keys. Data can be stored on their local device or with a storage provider, granting users complete control over their information.
Data processing can be carried out on a client’s computer that is linked to the network, but not through a platform’s main servers. A networked storage system, named ‘Gaia’, enables what Blockstack calls “user-managed personal data compartments”.
Users link their “data lockers” to Blockstack’s client software and the applications store data in these lockers directly. The locker works as a repository for all the data associated with a user’s account (which is also referred to as a user’s “universal ID”).
Content can be shared in a secure and encrypted way thanks to the Blockstack network. This platform supports tokens such as bitcoin and other types of cryptocurrencies, and it can be utilized for P2P exchange, payments for downloads, subscriptions, etc.
What Is Stacks (STX) Coin?
Stacks token (STX) is the digital currency powering Blockstack, a decentralized computing platform. Blockstack builds upon the advantages of Bitcoin and other cryptocurrencies by providing a second layer protocol with sophisticated smart contract functions, as well as an entire underlying infrastructure to deploy its own applications.
Max supplu of Stacks(STX) token is 1,818,000,000, and currently, the circulating supply of Stack(STX) token is 1,361,022,900. Its highest price is $2.9 on 2nd December 2021, and currently price is $0.72, obtaining
