Due to the completion of STX maintenance, CoinEx has resumed STX withdrawal on January 19.
· Stacks (formerly Blockstack) seeks to power a new kind of decentralized internet, one that gives users more control over their data and makes it harder for content to be censored.
· It has properties such as built-in Privacy, where data in Stacks apps, such as photos, messages, health records, are encrypted by default. Apps will not be able to see, access, or track your activity. All data is owned to 100% by the user instead of the apps. Furthermore, users are free to move their data and to trade and transfer your assets — no permission from any app or company required.
· Stacks’s smart contracts, based on their programming language Clarity, enable new kinds of digital assets, such as tokens and digital collectibles, to be created, owned, and traded. By using Stacks apps, creators can also have a share of the value that they help create.
· Stacks uses a hybrid consensus mechanism, which Stacks calls Proof-of-Transfer ("PoX")
· Besides regularly storing a hash of the Stacks blockchain on Bitcoin's, many of the node participants in the blockchain will receive rewards in BTC, a more reliable source of value than rewards in a Stacks' native token, STX.
· PoX uses miners and stackers. Miners log transactions, much as miners on the Bitcoin or Ethereum blockchains do, while stackers keep a copy of the blockchain, signaling which fork to mine on. Miners earn new STX from inflation and they pay to participate in BTC. That BTC gets distributed to stackers who have to stake STX.
January 19, 2021
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