$STX , the native token of the Stacks network, has several interesting features. First, it is used to pay transaction fees and deploy smart contracts in a network designed to expand Bitcoin's functionality, allowing the creation of decentralized applications (dApps), smart contracts, and NFTs based on Bitcoin. Second, STX can be staked, meaning it can be locked in the network to participate in the PoX consensus mechanism, receiving Bitcoin rewards in return. Third, STX plays an important role in the Stacks ecosystem, facilitating the operation of smart contracts and decentralized applications integrated with the Bitcoin blockchain.
Learn more:
Expansion of Bitcoin functionality:
Stacks is a blockchain platform that allows developers to create smart contracts, decentralized applications (dApps), and non-fungible tokens (NFTs) based on Bitcoin.
Staking and rewards in Bitcoins:
STX can be staked by locking tokens in the network to participate in the Proof-of-Transfer (PoX) consensus mechanism. Within PoX, Stacks miners transfer part of their reward in Bitcoins to the holders of staked STX tokens, making STX staking an attractive way to earn passive income in Bitcoins.
Transaction payments:
STX is used to pay transaction fees on the Stacks network, as well as for deploying and interacting with smart contracts.
Stacks ecosystem:
STX is an integral part of the Stacks ecosystem, ensuring its operation and supporting decentralized applications and services integrated with Bitcoin.
Overall, STX is an interesting example of a cryptocurrency that not only provides functionality for its own network but also serves as a bridge connecting it to the Bitcoin blockchain.
