Wait, Bitcoin is only a cryptocurrency, peer-to-peer money, right? It’s only a store of value and a hedge against inflation?
Not so fast. Stacks is building the Internet of Bitcoin.
Blockchains are essentially secure networking protocols running on nodes (nodes are much like what servers used to be, but secured through a blockchain). And while the current internet is highly insecure, hackable, and owned by Big Tech… an internet that runs on blockchains, will be highly secure through cryptography and owned by us.
Stacks (STX) is a smart contract protocol running on the Bitcoin blockchain that is enabling what we’re already expecting from the Internet 3.0 (NFTs, Decentralized Finance, tokens, and even decentralized applications)… this will be made possible on the Bitcoin network through Stacks.
The recent run-up in STX (Stack’s native coin) has been impressive. This past week it moved from $1.75 and is currently trading at 2.79.
Why the run-up?
Some have speculated that Jack Dorsey, by stepping down as Twitter’s CEO, will now be able to focus on building out the Bitcoin network, and how better to do so than through Stacks’ protocol and its programming language called Clarity? Another reason for the price jump may be the upcoming Stacks’ upgrade that will allow for better scalability across its network.
The Stacks protocol is also behind City Coins, which has already been adopted by Miami’s mayor Francis Suarez and New York City’s mayor elect, Eric Adams. And with NFT projects like Bitcoin Monkeys being traded through Stack’s smart contract platform, people are catching on.
Bitcoin is not some antiquated crypto platform. It’s far more capable than perceived by the general public.
Arguably, Bitcoin is a much more decentralized and secure blockchain than other platform coins like Ethereum, Cardano, Polkadot, and Solana. With Stacks helping Bitcoin to host smart contracts and dApps… Stacks is building the Internet of Bitcoin.
For more information on the upcoming revolutionary internet, check out Crypto is the Internet 3.0.
For another platform coin focused on building out a truly decentralized internet, check out our Qortal section.