Stacks

Halal Rating :
Comfortable
Last Price $1.5 Last updated:
Rank 55
1D Change -0.26 %
Market Cap $2.33b
Circulating supply 1,509,565,966
Maximum supply 1,818,000,000
Crypto Overview Crypto Impact

Crypto Overview

Categories
  • Mineable
  • Platform
  • Collectibles & NFTs
  • DeFi
  • Smart Contracts
  • Metaverse
  • Arrington XRP Capital Portfolio
  • Blockchain Capital Portfolio
  • DCG Portfolio
  • Fabric Ventures Portfolio
  • Hashkey Capital Portfolio
  • Huobi Capital Portfolio
  • USV Portfolio
  • Web3
  • Injective Ecosystem
  • Bitcoin Ecosystem

Overview

Stacks (STX) is a layer-1 blockchain designed to bring smart contracts and decentralized applications to Bitcoin. It uses a unique consensus mechanism called Proof of Transfer (PoX) that anchors to Bitcoin's security while enabling smart contract functionality.

Purpose and Utility

The primary purpose of Stacks is to extend Bitcoin's functionality by enabling smart contracts and DApps while leveraging Bitcoin's security and network effect. STX tokens are used for: 1) Executing smart contracts and transactions on the Stacks blockchain, 2) Participating in network consensus through PoX mining, 3) Governance participation in protocol decisions.

Current Usage and Adoption

The Stacks ecosystem has seen significant development activity and adoption: 1) Multiple active DApps built on the platform, including NFT marketplaces and DeFi applications, 2) Growing developer community with regular updates and improvements, 3) Active mining ecosystem with participants stacking Bitcoin to earn STX rewards.

Token Distribution and Governance

The token distribution shows a relatively balanced allocation with vesting schedules for early investors and team members. The project maintains transparent documentation of token allocations and regularly publishes development updates.

Technology and Revenue Model

The core technology focuses on extending Bitcoin's utility through smart contracts. The revenue model is based on transaction fees and mining rewards, which represent legitimate value exchange rather than interest-based returns.

Crypto Impact

To assign a comfort level investing in Stacks from a halal perspective we need to determine whether it has a net positive or negative impact.

Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Stacks.

If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.

We will review your contribution for accuracy before publication.

Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.

You only have one vote per asset so use it wisely.

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