Stake STX to earn BTC

By Baxpian | My crypto dreams | 24 Sep 2022

Stacks is an open-source blockchain network that leverages the security and capital of Bitcoin for decentralized apps and smart contracts.

What is Stacks?

A layer-1 blockchain

tacks is a blockchain linked to Bitcoin by its consensus mechanism that spans the two chains, called Proof of Transfer. This enables Stacks to leverage Bitcoin’s security and enables Stacks apps to use Bitcoin’s state, despite being a separate blockchain.

A network of decentralized apps

What if Bitcoin’s values of trustlessness and permissionlessness could apply to software too? Stacks powers decentralized apps: Apps that run on the Stacks blockchain instead of a centralized server, enabling new use cases that couldn’t exist before.

An open network

Like Bitcoin, Stacks is a decentralized network. There are many individuals and companies from all over the world that contribute to and build on Stacks. Join us in building a better internet on Bitcoin.

Proof of Transfer

Proof of Transfer is the consensus mechanism that runs between Bitcoin and Stacks. It recycles Bitcoin’s Proof of Work to achieve both high levels of decentralization and scalability without additional environmental impact. Proof of Transfer’s other half is called Stacking, which enables holders of Stacks Token to earn Bitcoin.

Stacking

Stacking is locking your STX temporarily to support the Stacks network. As a reward, you’ll earn bitcoin.

How to start your stake

There are multiple ways to stack and earn bitcoin: on an exchange, in a non-custodial pool, or by yourself. Which way is right for you, depends on how experienced with crypto you are and how much STX you have available.

I am staking mine STX on binance because I have got only 200 stx for now but I have a plan to buy more before new year, and at the end some stats for you.