2021 got off to an incredibly good start for the crypto industry as Bitcoin and others hit all-time highs. Driving that dynamic further is the revolutionary Stacks project (you can recognize it as a Blockstack), which launches its Stacks 2.0 blockchain on January 14th. Stacks 2.0 is a Layer 1 blockchain that uses the Bitcoin blockchain as a secure base on which developers can build secure apps and smart contracts over Bitcoin.
With the launch of Stacks 2.0 Blockchain, the Stacks project will turn Bitcoin from purely digital gold into a vehicle of innovation and offer participants a new opportunity to earn BTC. The Stacks network comes with the tools it needs, including the new Clarity language for building complex intelligent contacts anchored in Bitcoin. In contrast to the standard proof-of-work (PoW) with the Bitcoin blockchain, the Stacks 2.0 blockchain uses a new type of proof-of-transfer mining mechanism (PoX) that enables building on Bitcoin. This mechanism also enables STX holders to earn BTC through a process called stacking, where they support the PoX consensus and earn regular BTC rewards.
PoX uses the Proof of Work consensus of an established blockchain, in this case Bitcoin, to secure a new blockchain and give network participants the opportunity to earn rewards in the basic cryptocurrency. With PoX, new blockchains can be anchored in a single stable PoW blockchain instead of creating new PoW chains.
The Stacks project is backed by a strong community that includes independent companies, developers, investors, and more than 300,000 STX owners, all of whom are working towards creating a personal internet on Bitcoin. Some of the attendees are the Stacks Foundation, New Internet Labs, Hiro, Freehold, and Daemon Technologies.
Early last year, Stacks co-founder Dr. Muneeb Ali, quoted as saying, “We believe the new Stacks 2.0 blockchain currently on testnet contains a solution to make Bitcoin the basis for smart contracts in Web 3.0. With the Clarity Smart Contract programming language and the Proof of Transfer mechanism, developers can create smart contracts in a much more secure language that is predictable and decidable. “
Now that the Stacks 2.0 blockchain goes live on the mainnet, everything envisaged for the project will soon become a reality. The kick-off event for Stacks 2.0 will take place online on January 14, 2021. Interested parties can register at https://stacks2.com/.
The event will be attended by some of the most prominent members of the crypto industry as speakers and guests. The list of speakers includes:
- Anthony Pompliano – Co-Founder and Partner at Morgan Creek Digital, Host of the Pomp Podcast
- Muneeb Ali – Co-Founder, Stacks, and CEO of Hiro PBC
- Peter Smith – CEO and Co-Founder of Blockchain.com
- Brittany Laughlin – Executive Director of the Stacks Foundation
- Haider Rafique – CMO at OKCoin
- Diwaker Gupta – Chief Engineer at Hiro PBC
- Patrick Stanley – Founder and CEO of Freehold
- Xan Ditkoff – Founder and CEO of Daemon Technologies
- Larry Salibra – Founder and CEO of New Internet Labs
- Joseph Bender – developer evangelist by Hiro PBC
- Ken Liao – Engineer at Hiro PBC
- Dan Trevino – Founder and CEO of Boom
- Jenny Mith – Digital Community Manager at Hiro PBC
- Mohamed Abdou – Founder and CEO of Pravica
- Harini Anantha Rajan and Wilson Bright – Block Survey founders
- Phutureprimitive – American electronic music producer from San Francisco
You can find the detailed schedule for the launch here.
Participate in the launch of Stacks 2.0 at – https://stacks2.com/