About Blockstack Ico
Stacks makes Bitcoin programmable, enabling decentralized apps and smart contracts that inherit all of Bitcoin’s powers. The Blockstack Ico community encourages the introduction and use of decentralized programs via way of means of taking a full-stack approach, in different words, making it less complicated for builders to create consumer-pleasant programs that recognize users’ virtual rights via way of means of presenting a default set of gear for every layer of software program required for the improvement of an app, from its consumer interface to its lower back end, all constructed on pinnacle of the community’s personal blockchain.
| ICO | DETAILS |
|---|---|
| Company Name | Blockstack Ico |
| Token Symbol | STX |
| Accepts | BTC, ETH, USD |
| Token Type | Utility token |
| Initial Token Price | 1 STX= $0.12 to $0.3 |
| Hard Cap | $ $25.2 million |
| Soft Cap | N/A |
| Starting Date | July 11th, 2019 |
| Ending Date | September 9th, 2019 |
| Status | Past |
| Participation Restrictions | N/A |
| KYC | YES |
| Website | Homepage |
Mining
Mining is the process of adding new blocks to the Stacks blockchain. With Proof of Transfer, miners spend Bitcoin to mine new blocks — no special hardware is required.
Stacking
Blockstack Ico is locking your STX temporarily to support the network’s security and consensus. As a reward, you’ll earn Bitcoin that miners transfer through Proof of Transfer.
Build apps and smart contracts on Bitcoin
Stacks connects to Bitcoin, enabling you to build apps, smart contracts, and digital assets that are integrated with Bitcoin’s security, capital, and network.
Earn Bitcoin by Stacking
Lock your STX temporarily to support the network’s security and consensus. As a reward, you’ll earn Bitcoin that miners transfer as part of Proof of Transfer.
Reimagine financial system on Bitcoin
Blockstack Ico makes Bitcoin’s $760B of capital programmable with smart contracts. Build a better financial system on top of Bitcoin that’s open, composable, and without intermediaries.
Clarity, for safer smart contracts
Run your app’s logic on the blockchain with Clarity smart contracts. Clarity is a more secure and predictable language that prevents many bugs and exploits. Perfect for high-stakes code where bugs are not an option.
Clarity Smart Contracts
Clarity is a new programming language for smart contracts. The Clarity language optimizes for predictability and security. Stacks 2.0 anchors clarity smart contracts to Bitcoin making it possible for smart contracts to operate based on actions seen on the bitcoin blockchain. Well-designed smart contracts can prevent bugs, but poorly designed contracts can exacerbate problems. This is especially important given smart contracts are meant to keep digital money on them. With Clarity, Blockstack Ico took the what you see is what you get approach. Clarity makes the behavior, cost, and performance of smart contracts transparent both for developers and for automated verification and introduces post-conditions for added safety.
Stacks Cryptocurrency
Stacks cryptocurrency (STX is designed primarily to be used as “fuel” to execute Clarity smart contracts. Stacks are also used for other network functions like registering digital assets, paying for transaction fees, and to publish Clarity contracts on the blockchain. Stacks can be locked by STX holders to participate in consensus and earn Bitcoin rewards. This process is called Stacking. To participate, STX holders run a full node, lock their STX, and publish useful information periodically on the network.
The annual earning rate of Bitcoin rewards depends on several factors. For example, if 50% of the liquid supply participates, along with other assumed parameters, then the earning rate can be approx 9%. See details [5. Stacks cryptocurrency was distributed to the general public through the first-ever SEC-qualified token offering in US history with 4,500 people/entities participating. PoX consensus mechanism establishes a native exchange pair between STX and BTC and makes STX a unique asset in that you can lock it to get earnings in Bitcoin. This is different from traditional proof of stake assets that give a yield in the same cryptocurrency.
Token Economics
Blockstack Ico cryptocurrency has 1.32 billion (1,320M STX in the genesis block [14. These STX were distributed through various offering in 2017 and 2019. The 2017 offering distributed STX at a $0.12 price, the 2019 Reg S offering at $0.25, and the 2019 SEC qualified offering at $0.30. Figure 1 below gives the breakdown of the genesis block tokens.
The Stacks cryptocurrency has a predefined future supply that reaches approx 1,818M STX by year 2050 (a reduction from the earlier 2,040M number. By end-Jan 2021, approx 1,006M of the 1,320M genesis block STX will be liquid and the remaining will unlock monthly following various locks.