STX is the native cryptocurrency of the Stacks blockchain. Here's a clear breakdown:
Blockchain: Stacks
Stacks is a layer-1 blockchain that connects to Bitcoin. It allows developers to build smart contracts, decentralized apps (dApps), and DeFi protocols while leveraging Bitcoin’s security.
Purpose of STX:
Transactions: Used to pay for transactions and smart contract operations on the Stacks network.
Staking: Users can lock $STX to earn Bitcoin($BTC) rewards through the network’s consensus mechanism called Proof of Transfer (PoX).
Governance: Helps participate in network decision-making.
Key Feature:
Unlike Ethereum or Solana, Stacks anchors to Bitcoin, giving smart contracts and apps built on Stacks the security of Bitcoin.
Ticker Symbol: $STX
In short, STX is not just another crypto—it’s the fuel that powers the Stacks ecosystem and connects decentralized applications to Bitcoin ( $BTC ).
