Stacks (STX) coin and BTC dApps

What are Smart Contracts?

Every blockchain is bringing their own smart contracts. Smart Contracts are algorithm that becomes functional when certain conditions are met. These conditions are defined in the contract algorithm. The codes use the functional statements of If and else. Smart contracts allow for more reliability, security, speed and ultimately reduce the cost of the whole operation of executing a transaction. This removes the need for lagging and external controlling mechanism that render the transactions traceable and irreversible.

What are dApps?

dApps are decentralized applications that run a block chain. They have no central authority. They aren’t stored on the block chain itself but they interact with the block chain using smart contracts. Different block chains have different dApps that run on the respective block chain and interact with the block chain using the native smart contracts.

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Introduction to Stacks (STX)

With new blockchains leveraging dApps and new mechanism to lift themselves up. Stacks came into play as a layer-1 blockchain solution to bring smart contracts and the development of dApps on the biggest blockchain network i.e. Bitcoin (BTC).  The smart contracts were made in such a way that none of the features of Bitcoin that make it so powerful were changed hence its security and stability were kept intact. The platform was formerly known as BlockStack but was later changed to Stacks in the last quarter of 2020. Stacks has also introduced Clarity, a smart contract-oriented programming language that is also used by Algorand (ALGO). Stacks was also the first cryptocurrency to receive SEC qualification that allowed the sale in the United States. Stack holders can also stack their tokens to earn rewards in BTC.

Native Token STX

The native token of Stacks is STX. At the time of writing STX stands at the price of $1.13 with a decrease of almost 7.99% in the past 24 hours. On coinmarketcap the coin is listed at 67 with a market dominance of 0.08%. The coin created its All Time High at the price of $2.850 in the month of April. In April the coin had shown an increase of almost 79.96% but in June, the coin completely retraced back with a drop of 54. 28%. The monthly candle of June closed below the low of April. The coin has a maximum supply of 1.8B that are ever to exist. The token can be bought and exchanged on different platforms including Binance and Kucoin.

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