STX is the native cryptocurrency of the Stacks blockchain, which is designed to bring smart contracts and decentralized applications (dApps) to Bitcoin. Unlike Ethereum, where smart contracts run natively, Stacks enables these functions to operate on a separate layer but settle on the Bitcoin blockchain for security.
Key Features of STX:
Smart Contracts on Bitcoin: Stacks uses its own smart contract language called Clarity that is secure and predictable.
Proof of Transfer (PoX): STX uses a unique consensus mechanism that connects the Stacks blockchain to Bitcoin by transferring BTC to earn STX rewards.
Bitcoin Security: All transactions and states on Stacks are anchored to Bitcoin, benefiting from its strong security.
Stacking Rewards: STX holders can “stack” their tokens (not staking, but similar) to earn Bitcoin as rewards.
Use Cases:
Powering smart contracts and dApps
Paying transaction fees on the Stacks network
Participating in governance and stacking to earn BTC
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