Stacks 2.0 Blockchain set to launch on Mainnet
The year 2021 has started on an incredibly good note for the crypto industry, as Bitcoin and others hit all-time highs. Taking that momentum further is the groundbreaking Stacks project (you may recognize it as Blockstack) launching its Stacks 2.0 blockchain on January 14. Stacks 2.0 is a layer 1 blockchain that uses the Bitcoin blockchain as a secure foundation on which developers can create secure applications and smart contracts in Bitcoin.
With the launch of the Stacks 2.0 Blockchain, the Stacks project will move Bitcoin from just being digital gold into a vehicle of innovation, while also providing participants with a new way to earn BTC. The Stacks network comes complete with the necessary set of tools, including the new Clarity language for creating complex smart contacts anchored to Bitcoin. Unlike the standard proof of work (PoW) with the Bitcoin blockchain, the Stacks 2.0 blockchain uses a novel proof of transfer (PoX) mining mechanism that makes building in Bitcoin possible. This mechanism also allows STX holders to earn BTC in a process called Stacking, where they support the PoX consensus and earn regular BTC rewards.
PoX makes use of the Proof of Work consensus of an established blockchain, in this case Bitcoin, to secure a new blockchain, while allowing network participants to earn rewards in the base cryptocurrency. With PoX, new blockchains can be anchored to a single stable PoW blockchain instead of creating new PoW chains.
The Stacks project is supported by a strong community that includes independent entities, developers, investors, and more than 300,000 STX holders, all working towards creating a user-owned Internet in Bitcoin. Some of the participants include Stacks Foundation, New Internet Labs, Hiro, Freehold, and Daemon Technologies.
Earlier last year, Stacks co-founder Dr. Muneeb Ali was quoted as saying: “We believe that the new Stacks 2.0 blockchain, currently on testnet, has a solution to make Bitcoin the basis for smart contracts on the Web. 3.0. With the Clarity smart contract programming language and proof-of-pass mechanism, developers can create smart contracts in a much more secure, predictable and highly appropriate language. “
Now, with the Stacks 2.0 blockchain up and running on the mainnet, everything planned for the project will soon become a reality. The Stacks 2.0 launch event will take place online on January 14, 2021 and those interested in being a part of the moment can register at https://stacks2.com/
The event will witness the participation of some of the most prominent members of the crypto industry as speakers and guests. The list of speakers includes:
Anthony Pompliano, Co-Founder and Partner of Morgan Creek Digital, Host of The Pomp Podcast
Muneeb Ali – Co-founder, Stacks and CEO of Hiro PBC
Peter Smith – CEO and Co-Founder of Blockchain.com
Brittany Laughlin – Executive Director of the Stacks Foundation
Haider Rafique – CMO at OKCoin
Diwaker Gupta – Head of Engineering at Hiro PBC
Patrick Stanley, Founder and CEO of Freehold
Xan Ditkoff – Founder and CEO of Daemon Technologies
Larry Salibra, Founder and CEO of New Internet Labs
Joseph Bender – Hiro PBC Developer Evangelist
Ken Liao – Engineer at Hiro PBC
Dan Trevino – Founder and CEO of Boom
Jenny Mith – Hiro PBC Digital Community Manager
Mohamed Abdou – Founder and CEO of Pravica
Harini Anantha Rajan and Wilson Bright – Founders Blocksurvey
Phutureprimitive – American electronic music producer from San Francisco
The detailed launch schedule is available here.
Join the Stacks 2.0 release at – https://stacks2.com/
This is an opportunity for innovators, creators, developers, who want to venture into bitcoin smart contracts, the possibilities are given and taken advantage of, blockchain technology has enough potential to generate wealth from cryptography
Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.