Stacks 2.0 will revolutionize the internet itself by enabling a decentralized and user-owned ecosystem based on the most secure blockchain in the world. It does this by anchoring apps and smart contracts in Bitcoin. The innovation will also create a brand new way for users to earn BTC without buying mining infrastructure or trusting faulty DeFi protocols.
Smart contracts, decentralized apps and the use of BTC
When the internet was young, visionaries described how it could create a future of endless possibilities, free exploration, uncensored communication, and unlimited creation. Instead, what remains today is constant surveillance and a handful of huge companies, all of which are making profits from selling your personal information. Fortunately, a big change is on the horizon.
Bitcoin has the potential to free humanity from the shackles of centralized banking systems and in many places from corruption. It is already revolutionizing money because of its decentralized nature, the elimination of the need for a trusted third party, and the fact that it is a verifiable and reliable store of value. Now it can do the same for the internet.
Stacks 2.0 will reinvent the internet by enabling an entirely new ecosystem of services and applications in which users own their personal data and everything is secured by Bitcoin.
Technologically speaking, Stacks 2.0 is a Layer 1 blockchain that uses the BTC blockchain as its base layer. Proof-of-Transfer enables consensus between two blockchains, Bitcoin and Stacks, and creates a native connection that enables Bitcoin to innovate without ever changing it. Along with Stacks 2.0 there is also a new programming language called Clarity that allows developers to securely create complex smart contracts where the code itself clearly shows what the program will do when it runs (hence the name).
Stacks 2.0 creates a brand new way to earn BTC
In addition to these important technological innovations, users can make money with Stacks 2.0 BTC in a brand new way that is currently missing from the scene. For the first time ever, you can lock in an asset (STX) and earn rewards from the log in a reserve currency (BTC). This is known as “stacking” and is a key aspect of the “proof-of-transfer consensus mechanism” mentioned above. Forklifts support consensus on the blockchain by locking or delegating their STX and are rewarded with BTC payouts every cycle.
Currently, DeFi users are forced to stake all types of tokens and usually earn the same real value that they usually convert to BTC for safe storage. With Stacks 2.0, STX holders can directly earn the world’s most valuable and sought-after cryptocurrency without any additional effort. Plus, you don’t have to trust the seedy, buggy-code projects that the current DeFi landscape is unfortunately crammed with.
STX was originally distributed to the public via the first SEC qualified token offering in US history and the project recently published a legal memo Explain how STX can exit the security status and be traded on US exchanges. Actually, OKCoin has committed to listing STX in the United States when starting Stacks 2.0.
Stacks 2.0 builds on the success of Blockstack, which has raised over $ 75 million from equity investments and token offerings for the Stacks 1.0 ecosystem, which currently includes over 400 apps. The new mainnet launch is expected on January 14, 2021. To learn more about the upcoming Stacks 2.0 launch, visit the project website and make sure to register to secure your place for the event.
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