Stacks Research Hub | STX information, history and analysis
Stacks was launched on October 25, 2019, and was developed by Blockstack PBC, headquartered in New York. Stacks is a decentralized network using blockchain technology that creates the infrastructure and provides tools for developers to efficiently deploy their applications. Stacks is designed to be a platform focused on ease of use, scalability, privacy, and user data security, allowing users to control their data and identity.
The platform allows users to control their information thanks to code stored on the blockchain system by operating directly on users’ devices and independently keeping information. This code has the role of:
- Providing the ability to hold individual data in the media of the user’s choice
- Transferring data from one application to another within the ecosystem
- Removing the need to log into their data through a password as before.
Stacks token (STX) is a utility token belonging to the Stacks ecosystem and is used for the following purposes:
- Pay registration fees, create an account, and pay for services within the Stacks network.
- Pay to access the dApp and download applications from the dApp to your device.
- Publish the smart contract and execute its functions on the network.
- Reward miners who mine a new block.
Stacks poised to rise with Bitcoin: Stacks (STX) enhances Bitcoin with smart contracts. Analysts predict that STX’s price will increase, provided it maintains trading above 3.80 USD. A rise in Bitcoin’s dominance, attributed to ETF approvals, could further support STX.
Ethereum’s potential price surge: Ethereum is currently testing a resistance level at 4,100 USD. If this Threshold is surpassed, analysts anticipate a potential price rise to 6,000 USD, signaling an optimistic view on altcoin performance alongside Bitcoin.
STX rises significantly in value: STX reached a peak at 2.38 USDT, highlighting the asset’s volatility. Currently priced at 2.36 USDT, this Movement underscores the active changes in the cryptocurrency market, urging traders to adapt their strategies accordingly.
Traders must stay alert to market changes: This recent performance of STX emphasizes the need for investors to monitor ongoing developments and trends. As fluctuations can reveal both opportunities and risks, awareness in trading strategies is essential for navigating the crypto landscape.
Stacks (STX) is demonstrating bullish divergence, signaling a possible price increase. Critical support levels identified through technical analysis further reinforce this, as market sentiment remains favorable, attracting investors interested in opportunities within the cryptocurrency sector.
STX shows potential growth ahead: Analyst Quinten highlights STX’s chance for gains of up to 88%, with critical targets of 2.78 USD and 3.84 USD. Support from the Fibonacci retracement and the 20-day Simple Moving Average suggests a bullish breakout is possible.
BTC and SOL maintain investor interest: Following a price drop, BTC may bounce back to around 120,000 USD as more investors engage. Meanwhile, SOL retains strong community support, with key price points near 220 USD indicating possible upward Movement in the future.
Catzilla stands out in the meme coin world: Catzilla is positioning itself as a potential factor in the meme coin market. Investors are anticipating a combination of meme culture with financial growth, promising significant profits.
Stacks (STX) demonstrating strong growth potential: Stacks recorded a 25% increase in the past week, indicating an upward trend. With the nearest resistance at 2.42 USD, if broken, the price may continue to rise significantly.
Cosmos (ATOM) impressive growth amidst the altcoin frenzy: Cosmos has increased nearly 79% over the past month. If it surpasses resistance at 11.89 USD, the price could reach 15.79 USD, providing a potential profit of 50%.
Uniswap (UNI) ready for a big move: Uniswap is showing positive signs with the price fluctuating between 9.14 USD and 12.01 USD. If it surpasses the 13 USD level, the price could continue to increase up to 16 USD.
The main focus of the Nakamoto Upgrade is to decouple Stacks’ block generation from Bitcoin’s, enabling faster transactions and paving the way for more advanced blockchain functionality.
In addition to improving transaction speed, the upgrade will introduce a Bitcoin virtual machine (BTC-VM), allowing developers to build dApps and smart contracts that are natively tied to Bitcoin.
The Nakamoto upgrade aims to significantly enhance security and speed by increasing transaction throughput, achieving ‘100% Bitcoin finality,’ and reducing Bitcoin miner extractable value (MEV).
Additionally, the project plans to launch the non-custodial, programmable 1:1 Bitcoin-backed asset sBTC on the mainnet within four weeks following the Nakamoto hard fork.
Originally set for completion by July 15, the Nakamoto upgrade is now undergoing internal and external reviews, testing, and bug fixes.
The Stacks Nakamoto upgrade aims to achieve transaction speeds of approximately 5-10 seconds, representing a 100-fold improvement over the current transaction speed.
The U.S. Securities and Exchange Commission dropped a three-year-old investigation into Hiro Systems, a blockchain software developer (formerly known as Blockstack) that raised $70 million in token sales from 2017 to 2019, according to a Friday filing.
The probe’s conclusion is another win for the crypto industry in its years-long struggle with the regulator.
Stacks has reported that the Nakamoto upgrade is progressing smoothly. The new code necessary for activation has been successfully completed, leading to the restoration of the Primary Testnet.
These developments demonstrate the team’s commitment to enhancing the network’s capabilities and preparing it for future growth and innovation.