What is Stacks (STX)
Stacks (STX) is the native token of the Stacks blockchain, a layer-2 that brings smart contracts and decentralized applications (dApps) to Bitcoin, taking advantage of its security. Utilizing Proof of Transfer (PoX) consensus mechanism, it allows the creation of smart contracts and dApps. The STX token holders can use it to pay for transaction fees, execute smart contracts, and participate in governance decisions. Additionally, through "stacking," STX holders can lock their tokens to support network consensus and, in return, earn rewards in Bitcoin, thereby fostering active community involvement and enhancing the network's security.
For more information on Stacks transactions, please see our guide: How to use a memo/tag/Payment ID when making a deposit or withdrawal on Bitfinex
Discover more about STX on the Bitfinex Blog.
Supported Transport Protocol
- Mainnet
Supported Blockchain
- Stacks
Useful links