Cryptocurrency has taken the world by storm, and the original cryptocurrency, Bitcoin, has been instrumental in this. Bitcoin is without a doubt the “King” of the market, with a price of $47,723.08 at the time of writing. However, bitcoin is not without flaws. Along with the desire to have their inventiveness recognized by the general public, the majority of other developers have strayed from the Bitcoin path and attempted to carve out their own niche in the market. This is exemplified by Ethereum. Stacks (STX) thinks Bitcoin will lead the future.
Stacks 2.0 (STX), on the other hand, feel that Bitcoin is the cryptocurrency of the future. Bitcoin will gradually be used to build decentralized applications and use cases. This, they say, can be compared to the early Internet boom, when, despite the presence of other competing protocols, TCP/IP emerged as the winner, and everything on the Internet was eventually built on it. The same is true for Bitcoin.
Stacks (STX) is a consensus algorithm developed by Princeton and MIT academics that is distinct from any previous consensus algorithm. It is a consensus mechanism between two blockchains. This is the Proof of Transfer (PoX) protocol, which connects the Bitcoin and Stacks blockchains and enhances Bitcoin’s capabilities. The basic Bitcoin chain elects a new leader, after which new blocks are put on the related Stacks chain.
The Stacks 2.0 (STX) is a layer-1 blockchain that will introduce Bitcoin smart contracts and decentralized apps. It promises two blockchain benefits: first, scalable transactions, and second, general-purpose smart contracts that use the Bitcoin blockchain without modifying it. Stacks miners can use Bitcoin to mine freshly created Stacks. Stacks holders, on the other hand, can lock their STX in consensus to earn Bitcoin.
Price Movement
At the time of writing STX is being traded at the price of $2.15 with a decrease of almost 13% in the last 24 hours. STX is a really strong token fundamentally. The maximum and minimum today are $2.48 and $2.14 respectively. The daily trading volume has decreased by almost 42%. STX had created its ATH in December 2021 and reached a price of almost $3.26. After the reversal, STX has a circulating supply of almost 1.29B coins and a total supply of almost 1.81B. It is listed on coinmarketcap at rank 54th. It can be exchanged on Binance, KuCoin, OKEx.
Price Prediction – Stacks (STX)
According to wallet investor thinks that STX is a good investment. According to them, in one year, STX would be worth around $3.813. In five years, the price is expected to reach a value of $9.156.
