The stacks project is an open-source platform to build smart contracts and Dapps. It works with Bitcoin’s blockchain technology. Developers use the Clarity programming language to develop smart contracts and dapps on the stacks blockchain. Users can use the stacks project to issue NFTs.
Muneeb Ali and Ryan Shea started the stacks project as Blockstack. They raised $75 million through venture capital and an ICO to kickstart the project. The Stacks blockchain main net launched in January 2021. Nowadays they are working on the creation of Trust Machines. These will increase the Bitcoin blockchain’s potential as a settlement layer by speeding up transactions.
The stacks token (STX) is the native cryptocurrency of the stacks blockchain. Users pay gas fees denominated in this token to execute smart contracts and conduct transactions.
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