Stacks Price in India (STX)

Stacks is a Layer-2 solution built on top of Bitcoin. The platform was created with the goal of bringing smart contract and dApps functionality to the Bitcoin network, extending its utility to more than just a cryptocurrency. Stacks uses a Proof of Transfer (PoX) consensus mechanism to secure its network. The platform is powered by its native token, STX, which has established itself as a top crypto. 

Stacks was founded by Muneeb Ali and Ryan Shea, both Princeton University alumni. It was originally called Blockstack, but the project was later rebranded to Stacks in 2020.

• STX token: STX tokens have multiple utilities in the Stacks ecosystem such as a medium of exchange to pay for transaction fees in the Stacks network. The token is used to pay miners in return for their contribution in verifying transactions.

• Proof of Transfer (PoX): STX uses a unique consensus mechanism called PoX, which connects the Stacks blockchain to Bitcoin. PoX miners earn STX by transferring Bitcoin, which ensures that Stacks applications can leverage Bitcoin’s security.

• Clarity language: Stacks uses its own smart contract language, Clarity. This unique language enables developers to set up their own conditions for transactions.

• Extends Bitcoin functionality: Stacks brings smart contract functionality, dApps, and DeFi to Bitcoin, while retaining its underlying security and core features.

Stacks (STX)  is one of the few cryptos approved by the US Securities and Exchange Commission (SEC). With such a solid footing on the regulatory front, STX has managed to capture the attention of crypto traders. With a market cap of $2,895,855,616, as of September 2024, the STX token ranks #33 in the overall crypto market cap and #57 in terms of trading volume. The token hit an all-time high of $3.84 on April 01, 2024, and technical experts anticipate the token to trade between $22.80 to $29.20 by 2030.

Download the CoinSwitch app to invest in STX.

• STX can be exchanged, bought, and sold from crypto exchanges like CoinSwitch.

• STX is used as a medium of exchange on the Stacks platform. 

• It is used to pay miners in return for their contribution in verifying transactions. 

• STX token holders can stake their tokens for a period of time and earn staking rewards.

• Stacks brings DeFi to the Bitcoin network, offering a new layer of financial products.

• Stacks enable smart contracts and dApps functionality on Bitcoin.

• With the Proof of Transfer (PoX) consensus mechanism, Stacks leverages the Bitcoin network’s security and decentralization.

• Like other cryptos, STX is subject to volatility which may impact its price.

• Being built on top of Bitcoin, the Stacks platform’s operation is closely tied to Bitcoin’s performance.

• Stacks as a smart contract platform is yet to attain mainstream adoption like Ethereum.

• To trade in Stacks (STX), download the CoinSwitch app.

• You can start with as low as ₹100.

• With CoinSwitch, users can trade in over 200+ cryptos including STX in a safe and secure environment.

Stacks (STX) initial coin offering (ICO) was notable as it was the first token sale to receive SEC approval in the US, allowing it to offer a compliant public token sale under Regulation A+. During the ICO, Stacks sold 440 million STX tokens. In addition, a strong community, including large investors like Union Square Ventures and Winklevoss Capital, supports the ecosystem.