About Stacks

Stacks is a platform that enables the use of smart contracts and decentralized applications on the Bitcoin network. It leverages Bitcoin for security and transaction finality, allowing users to build decentralized finance (DeFi) projects on top of Bitcoin. The platform operates through a novel consensus mechanism called Proof-of-Transfer (PoX), which combines the security of Proof-of-Work with the scalability of Proof-of-Stake. Participants in PoX include miners, who bid Bitcoin to add blocks and earn rewards, and stackers, who lock up their STX tokens to receive Bitcoin proportional to their stake. Unlike traditional systems, PoX does not burn cryptocurrency but transfers mined coins within the ecosystem. Due to its Bitcoin integration, Stacks benefits from high security and large capital...