Stacks is a layer 1 blockchain which is built on top of bitcoin blockchain, to enable smart contacts and decentralized application to support staking and defi services using all bitcoin blockchain features.
Stacks want change this misconception that bitcoin blockchain cannot be used for any other thing except store of value. Because it is possible to innovate around bitcoin blockchain and enable smart contracts and decentralized applications capabilities. Stacks Consensus Model is Proof Of Transfer, which is also known as PoX. It is an Extension Of Proof Of Burn Consensus Model.
To cover everything, I created a detailed video on Stacks, in which i talked about its use cases, features, tokenomics, demo on stacking STX and more
It is my request, please have a look and share your feedback either here in comment section or on video comments. It will help me improving myself in my upcoming videos.
Video Timestamps
- 00:00 Introduction
- 00:52 Bitcoin doesn't support smart contracts
- 01:18 What is Stacks Blockchain?
- 02:50 Explaining Proof Of Transfer
- 04:34 Stacks Fundamentals
- 05:58 STX Tokenomics
- 06:24 DEMO - Things to remember
- 07:47 DEMO - Friedger's Pool Details
- 09:35 DEMO - Stacking STX
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