THE TECHNOLOGY BEHIND THE STACKS BLOCKCHAIN

Have you heard about Stacks ?and how it uses proof of transfer to solve building new features on bitcoin which was a paradox before since bitcoin is secure because it’s stable and resistant to change. It’s secure because it has a very limited scripting language with a small attack surface, and limited space for transactions. Introducing new features to the Bitcoin core protocol is hard and not desirable as these features add complexity.

Stacks solves this with Proof of Transfer, micro blocks, and Clarity (https://docs.blockstack.org/write-smart-contracts/counter-tutorial). It is designed so that builders can benefit from Bitcoin’s properties without modifying Bitcoin itself.

Proof of Transfer is a mining mechanism that provides a new take on consensus, allowing for Bitcoin to be leveraged and extended in important new ways. All Stacks transactions settle on Bitcoin, and this enables Stacks transactions to benefit from Bitcoin’s security. Every Bitcoin block, Stacks transactions are batched and hashed on the Bitcoin blockchain. Miners transfer Bitcoin, a proof-of-work currency, to holders of Stacks Token. This enables holders of Stacks Token to earn Bitcoin from consensus. This process is called Stacking. Leader election happens on Bitcoin and new blocks are written on the Stacks blockchain.

Learn about the stacks technology here: https://www.stacks.co/technology

Also learn what is stacking here https://www.stacks.co/stacking here you can learn and see the works of the technology we discussed above and experience the Stacks wallets and pools provided. Happy earnings don’t miss out !