Blockstack Upgrade Introduces Smart Contracts for Bitcoin | Crypto Briefing

A new blockchain from Blockstack will allow STX token holders to delegate tokens and earn Bitcoin.

Key Takeaways

  • Blockstack will roll out its new blockchain, Stacks 2.0, on Jan. 14 and bring smart contracts to Bitcoin.
  • With Stacks 2.0 mainnet, STX holders can participate in network consensus and earn BTC.
  • Due to a change in the token’s security status, STX will be listed on crypto exchanges.

Blockstack’s soon-to-be-launched blockchain offers developers smart contracts anchored to Bitcoin and investors new ways to earn BTC.

Delegate Tokens, Earn Bitcoin

Stacks 2.0 is a Layer-1 blockchain based on the Proof-of-Transfer (PoX) mining consensus and uses Bitcoin as the base layer for providing security to decentralized apps (dApps).

The team behind Stacks 2.0, Blockstack, has developed a custom set of tools and a novel programming language called Clarity for the new blockchain.

The custom tools will allow developers to build smart contracts anchored to the Bitcoin blockchain. According to Blockstack, smart contracts could unlock a new age of DeFi apps for the largest crypto asset.

STX is the native token for Stacks 2.0 blockchain, allowing holders to participate in the consensus through a staking-like mechanism called “Stacking.”

Stacking participants delegate their STX to participate in blockchain governance and are paid in BTC rewards. This means that Stacks 2.0 gives users a new alternative to earn Bitcoin without spending money on expensive mining equipment.

Source: Blockstack Upgrade Introduces Smart Contracts for Bitcoin | Crypto Briefing