Blockchains are working hard to provide developers the maximum opportunity to bring dApps on them. Many different blockchain launched their smart contracts so that new products can be launched. Bitcoin is no doubt the king of the crypto market. Its movement define the bull and bear market. Its movement define the alt season. So what about dApps on bitcoin? This is where stacks come.
Stacks is a layer one solution that is designed to bring the decentralized application to the biggest blockchain (bitcoin) through the help of smart contracts. This is done without altering the code of bitcoin so that it remains at its maximum potential. A point of notice is that these apps are open in nature. This means that developers can build their apps on top of one another apps. This is not possible in the development of other and simple applications.
Stack has introduced a new language which is known as Clarity which has its focus on smart contracts. This same language was used by Algo to develop their algorithms.
The project was originally known as Blockstack but was rebranded to Stacks in 2020 so that in can be separated from Blockstack PBC which developed the original project. Stacks is the first cryptocurrency to receive SEC qualifications which have allowed it to launch Reg A + sale cash offering worth $28M.
The Native Token STX
The native token of Stacks is known as STX. STX has a variety of use. It is use for the execution of smart contracts. It is used for transactions and also for registering new assets on Stacks.
At the time of writing STX is being traded at the price of $2.20. The price has increased by almost 1.31% in the past 24 hours. STX created its all time high around the value of $2.850 in April 2021 before the drop to a value of $0.500. The daily trading volume has decreased by almost 64.22% in a day. The total supply of STX is around 1.352B tokens. The circulating supply is around 1.28B STX.
In the long run, STX is a good opportunity. According to the wallet investor, the price of Stacks is to reach a value of $3.194 in a year. For a five-year plan, the price will reach a value of $7.248. But the investors are even more bullish on the value and they think that it will reach even more.