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What is Stacks? How to Buy STX in India?

Stacks (STX) Technical Analysis

Snapshot:


What is Stacks (STX)?

Stack, which was previously known as Blockstack was initially launched in 2017. Users completely owned and control their personal data within the network. The network’s applications that use the data are run locally on the user’s browser. All that is needed to access everything available on Blockstack is a compatible browser. It was after getting approval from the SEC that Blockstack introduced its native token Stacks (STX) in an ICO in 2019. The STX token became available for investing after Blockstack introduced Stack Blockchain 2.0 in January 2021. 

Stacks; an open-source blockchain network, leverages the security and capital of Bitcoin for decentralized apps and smart contracts. All of these smart contracts are brought to Bitcoin along with their powerful features of security and stability. 

Stacks’ layer-1 blockchain solution that enables bringing smart contracts and decentralized applications onto Bitcoin (BTC) is open and modular. Developers are able to build on top of each other’s apps in order to produce features that are generally not possible in a regular app. Since Stacks uses Bitcoin as a base layer, everything that happens on the network is decided on arguably the most secure blockchain in operation; i.e. Bitcoin.

Who are the founders of Stacks?

Stacks, developed by Blockstack PBC,  was initially funded by an array of prominent venture capital funds, which included:

Blockstack PBC, which now operates under the name Hiro Systems PBC was founded by Muneeb Ali and Ryan Shea. 

How does Stacks Work?

Stacks, which utilizes the opportunities that make Bitcoin so powerful and includes additional functionality to make it more suited, without needing to fork or change the original Bitcoin blockchain. Being the first cryptocurrency to receive SEC qualification for a sale in the United States, Stacks introduced a new smart contract programming language called Clarity, also used by the Algorand (ALGO) blockchain is designed to be both secure and easy to build programs with. 

Key Features of Stacks: 

How to Buy Stacks?

Use these three-step processes to buy your first Stacks at the CoinDCX crypto investing app

  1. Sign Up for the CoinDCX account 

Enter a valid email address and a user name on the sign-up page. Once the Email Id has been verified, set a strong password to secure your account.

  1. Verify the account

You need to complete your KYC, to buy XMR on the CoinDCX platform. All you need to do is upload the documents and your account will be set up in 15 minutes. 

  1. Buy Stacks

After the account has been verified, you can deposit any amount of fiat currency you are comfortable with and start your crypto journey!


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