Stacks
About Stacks
Stacks is a Layer 1 blockchain solution designed to bring smart contracts and decentralized applications (DApps) to the Bitcoin (BTC) network. These smart contracts are added to Bitcoin without sacrificing any of the features that make it so robust, including its security and stability. Stacks operates by its native cryptocurrency STX, which is used for facilitating smart contract implementation, transaction processing, and registration of new digital assets on Stacks 2.0 blockchain. The platform was known as Blockstack in its early phase, however, it was rebranded as Stacks in 2020.
In the last hour, Stacks's price has seen a change of -0.95%, and over the past 24 hours, its price has moved by +1.99%. Over the previous week, Stacks's price has moved by +8.76%. The current price of Stacks is ₺16.35, accompanied by a trading volume of 1.646B in the last day. Stacks's price is currently 91.30% below its all-time high of ₺187.97, which remains the highest price Stacks has achieved since its launch. The circulating supply of Stacks stands at 1.815B, translating to a total market capitalization of 29.68B.
Market stats
Frequently asked questions
What is the Stacks network?
The Stacks network and its trading symbol (STX) is a decentralized blockchain network and a Layer 2 project developed to scale decentralized applications (dApps) and integrate them with Bitcoin (BTC). Stacks uses Bitcoin as a settlement layer and aims to integrate decentralized finance (DeFi) into the Bitcoin network by providing a smart contract-compatible infrastructure. This allows developers to build a fully integrated ecosystem of decentralized applications and services on Stacks while maintaining Bitcoin’s robust security. The Stacks token, STX, is classified as a utility token. Such projects focus on improving the functionality, efficiency, and security of the blockchain (in this case, Bitcoin). More specifically, STX is used as a medium of exchange on the Stacks network to pay transaction fees. STX tokens are also paid to miners in exchange for validating transactions on the Stacks network.
How does the Stacks network work?
Stacks functions as an execution layer on top of Bitcoin, leveraging the security of the Bitcoin network to run smart contracts and decentralized applications. The network also relies on a Proof of Transfer mechanism that directly links Stacks with Bitcoin. Bitcoin miners transfer Bitcoin to participants who perform Stacking in exchange for the opportunity to produce a new block and receive Stacks rewards in the form of STX tokens. Meanwhile, STX tokens are locked to the network for a specified period in exchange for Bitcoin rewards. In this way, Stacks utilizes Bitcoin’s security features without the need to establish an independent mining network, The Nakamoto Upgrade has also accelerated block production to seconds rather than being entirely tied to Bitcoin’s block production time, while strengthening the network’s resistance to transaction reordering and manipulation.
How do you buy STX on Rain?
Buying STX on Rain involves clear steps:
- Make sure you have funds in your fiat account or your card is added in the payment methods section.
- Select the cryptocurrency you want to buy from the home or portfolio page.
- Click Trade and choose Buy.
- Enter the amount you wish to buy in your preferred fiat currency.
- Select your payment method, either by selecting your card or using the funds in your fiat account.
- Click Next to review your transaction details.
- Click Buy Now to complete the purchase.
STX will be added to your wallet once the transaction is executed. At Rain, we use cold storage to keep the majority of our customers’ assets offline.
Rain is licensed by the Central Bank of Bahrain (CBB) and the Abu Dhabi Global Market Financial Services Regulatory Authority (ADGM FSRA). This provides customers with a regulated framework for trading digital assets in the region.
Risks and considerations
Before buying STX, it is important to understand the associated risks:
• Price volatility risk: the token may be subject to sharp price fluctuations.
• Selling pressure risk: a significant portion of the supply is concentrated in the portfolios of early investors, which may expose the token to significant selling pressure and affect its market value.
• Liquidity risk: liquidity may affect the token’s price movement.
• Governance and regulatory risk: the token’s value may be affected by legislation and regulation.
• Security risks: you must protect your account with a strong password and two-factor authentication, and choose an appropriate storage method after thoroughly researching your options.
You should not purchase STX based solely on price predictions. Instead, you should study the whitepaper, the currency’s use cases, the project’s vision, and your risk tolerance before making any decision.
What are the uses of STX tokens?
Paying gas fees, executing smart contracts, registering digital assets, and participating in network consensus.
How does the staking mechanism work on the network?
Users temporarily stake STX tokens to support network security and earn real Bitcoin (BTC) as a reward.
What is the STX supply?
There is no maximum supply for STX.
What is Stacks (STX)?
Stacks (STX) is a layer-1 blockchain that connects to Bitcoin, enabling decentralized apps and smart contracts without modifying Bitcoin protocol. Stacks uses Bitcoin as a secure base layer, bringing apps and smart contracts to the Bitcoin network.
How does Stacks differ from other cryptocurrencies?
Unlike other cryptocurrencies, Stacks (STX) doesn't compete with Bitcoin. Instead, it enhances the Bitcoin network by enabling new features and functionality through stacks 2.0, providing a way to build on top of Bitcoin without changing its core protocol.
What is the purpose of the Stacks (STX) token?
The Stacks (STX) token is used for Clarity smart contracts and PoX mining. Holders can earn Bitcoin by locking their STX tokens in the mining process, securing the network, and participating in consensus while supporting a more decentralized and secure Bitcoin network.
How can users earn rewards with Stacks (STX)?
Users can earn Bitcoin rewards by participating in the PoX (Proof of Transfer) mining process on the Stacks network. By locking their STX tokens and supporting the network, participants can earn BTC rewards for their contribution to securing the network.
How to invest in Stacks?
Rain offers you a number of ways to start investing in Stacks, including buying Stacks through bank transfers or by using your bank card. To purchase Stacks on Rain, you can select Stacks in your Rain account, then click Trade and select Buy. Enter the amount you wish to buy and click Next to review and confirm your purchase.
How to buy Stacks with card?
Once you add your bank card to your Rain account, you can use it to buy Stacks directly. You can start by adding your card to your payment options on your Rain account. To purchase Stacks using your bank card, you can select Stacks, click Trade then select Buy. Enter the amount you wish to buy and choose your card from the payment options. Click Next to review and complete your purchase by following the instructions on the screen.
note: The purchase option with debit or credit card is not available for our users in Turkey
How to buy Stacks through bank deposit?
Rain enables you to buy Stacks using your local currency. You can deposit funds through bank transfer, a process which takes 1-4 business days depending on your location. You can start by depositing funds to your Rain account from your bank account. Simply click on Deposit and enter the amount you would like to transfer. Click next and copy the instructions that will appear on your screen to complete the transfer from your bank account. Note that Rain does not automatically pull funds from your bank account and you will need to manually transfer the funds from your bank account to Rain's banking information.
Within 1-4 business days, the funds will be available in your Rain account and you will be able to use them to complete purchasing Stacks. To do that, you can select Stacks in your Rain account, click Trade and select Buy. Enter the amount you wish to buy with and click Next to review and confirm your purchase.
How to sell Stacks?
This is an easy process that requires only a few clicks. Here are the steps needed to sell Stacks successfully:
On your Rain account, select Stacks then click Trade and select Sell. Enter the amount you wish to sell and click Next to review and confirm your sell transaction by entering an OTP. You will receive a confirmation email once the transaction is done with the details.
How to convert Stacks into cash?
Rain gives you the opportunity to sell Stacks and withdraw your funds from your Rain account to your local bank account. First, you need to add your personal bank account to your Payment Methods option on your Profile.
Once your bank account is added, you can sell Stacks and withdraw the funds to your bank account by clicking on Withdraw and entering the amount you wish to withdraw. Click Next to review and confirm your withdrawal information by entering an OTP.
Once the withdrawal request is submitted, you will receive a confirmation email that the withdrawal is being processed. Processing your withdrawal request can take between 1-4 business days.
How to receive Stacks?
If you would like to receive Stacks in your Rain account, simply click on Receive and select Stacks from the list at the top of the page. You can then either copy the address visible at the botom of the screen or share the QR code to to complete your receive transaction.
Make sure that you are using the correct network when receiving Stacks to avoid possible loss of funds.
How to send Stacks?
You can easily send your Stacks from your Rain account to any external wallet by clicking on Send and selecting Stacks from the list at the top of the page. Enter the amount you wish to send and add the external wallet address you are sending to. Click Next to review and confirm your send transaction by entering an OTP.
Why buy Stacks with Rain?
When you buy Stacks with Rain, you ensure that your assets are going to be safely stored on a regulated platform that follows strict compliance standards and is subject to periodic audits. Rain also uses bank-grade security measures like Cold Storage systems. Trading and storing Stacks on Rain also means that your asset is going to be stored on 1:1 basis, which means your assets will always be available to you.
What is a Stacks wallet?
A Stacks wallet is where you can securely store Stacks. A wallet helps you maintain ownership of your asset as well as enable you to trade, send or receive crypto-assets.
What is a Stacks address?
A Stacks address is a string of unique characters that is tied to your Stacks wallet. The address functions just like a bank account number and it is what you use in order to send Stacks from your wallet, or to receive Stacks to your wallet.
What trading pairs available for Stacks?
There are over 200 currency pairs available on Rain for you to trade with. You can trade Stacks with Bahraini dinar, Kuwaiti dinar, Emirati dirham, Omani rial or US dollar, depending on your location. Additionally, you can swap Stacks with 200 other assets like BTC, LTC, XRP, ETH. You can explore your options by visiting the market page on your Rain account: https://www.rain.com/market
What is the minimum order size to buy Stacks?
You can trade Stacks with any amount above $30 or equivalent in your account's currency. You can start trading Stacks now by clicking the Trade button on your Rain account.
What are the most popular cryptocurrencies besides Stacks?
Besides Stacks, you can find over 150 assets available on Rain for you to start trading such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), USDC, Ripple (XRP), DOGE, Tether (USDT), Chainlink (LINK) or BCH. You can explore these options by going to the homepage of your account and scrolling through the available assets. When you are ready to start trading, simply click on the asset of your choice and click Trade.
What blockchain is Stacks built on?
Stacks is built on the STX blockchain. This determines how transactions are verified, fees are structured, and how compatible it is with wallets and other decentralized applications (dApps).
How do I keep my Stacks safe?
To keep your Stacks safe, make sure to use trusted wallets that support STX. Enable two-factor authentication (2FA), store long-term assets in cold wallets, and never share your private keys with anyone. You can always refer to our Security & Policies section for more tips.
What will the price of Stacks be in next 5 years?
Price predictions for Stacks over the next five years are highly speculative and depend on crypto market conditions, adoption, and broader crypto trends. We encourage you to do your own research and make informed decisions.
Is trading Stacks taxable?
Trading Stacks may be considered taxable in some countries with varying tax rules, so we recommend checking with your local tax authority or financial advisor for specific guidance.
What is Stacks's ATH?
Stacks’s all-time high (ATH) was ₺ 187.97 on 01 Apr 2024. This represents the highest recorded market price of the asset to date.
What is the market cap of Stacks?
With a market capitalization of 29.68B, Stacks is ranked 80 among other crypto assets.
What is the all-time high of Stacks?
The highest valuation of Stacks since its launch was at ₺187.97, marking its all-time high.
What is the 24-hour trading volume of Stacks?
The trading activity of Stacks over the last 24 hours was at 1.646B, highlighting its liquidity in the market.
How many Stacks are there in circulation?
There are approximately 1.815B units of Stacks currently in circulation, affecting its market dynamics.
What is the relative popularity of Stacks?
Stacks market cap is around 29.68B.
Website
White paper
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