Why it was an easy decision to build on Stacks Blockchain

Written By Nova


It’s 2022 and there are dozens of functional Blockchains and more coming out every single day, however, Ethereum has continued to dominate the smart contracts market even though plenty of projects have claimed to be ‘Ethereum killers’.

It is extremely difficult to build a functional Blockchain that is fast enough, scalable, and cheap. Plenty of chains are quite cheap and fast, but crumble once enough people start using them. Others are simply not decentralized enough leaving room for security issues. The bottom line is that most chains are functional but not optimal.

Despite the recent aversion to Proof of Work Blockchains, Bitcoin remains the king of crypto and is regarded by many as the safest Blockchain. Even with the entire market suffering a significant blow in the past 8 months, the Mining Hashrate of Bitcoin has continued to climb to new all-time highs.

Stacks leverages Bitcoin’s security

The Stacks team has developed an innovative consensus algorithm that utilizes Bitcoin’s Blockchain to enhance its security. ‘Proof-of-transfer (PoX) is an extension of the proof-of-burn mechanism. PoX uses the proof-of-work cryptocurrency of an established blockchain to secure a new blockchain.

However, unlike proof-of-burn, rather than burning the cryptocurrency, miners transfer the committed cryptocurrency to some other participants in the network.’ Basically, Stacks records all of its blocks on the Bitcoin Blockchain. Stacks is not a layer-2 chain but has integrated smart contracts through a new language called Clarity.

In a way, Stacks allows Bitcoin to have extra functionalities and practically creates decentralized apps on its chain. As any other chain, Stacks incentivizes users to stake their STX tokens, or ‘stack’ them to support the consensus method which guarantees that all blocks created are settled on Bitcoin.

Anything on Stacks is simply more secure

Anything built on Stacks whether it’s NFTs, DeFi protocols, or DEX’s is inherently just as secure as Bitcoin. In a way, Stacks has created Bitcoin DeFi already and hundreds of other applications are being built on the Blockchain right now.

There are numerous learning resources made for Stacks to allow new developers to jump in. The community of Stacks is already quite united and everyone helps each other through the creation of open-source protocols. Once we learned about Stacks, we knew immediately that it should be the main chain of the Miningverse. Our main idea for the games that we are creating has always been to leverage Bitcoin in some way.

Play-to-Mine is a new concept that we have created to reward users with Bitcoin while they play games. The Miningverse, built on Stacks leverages Bitcoin’s security and stability. All the Bitcoin that we mine is used to reward players in our ecosystem which means no more reward token crash disasters.

We are grateful for the Stacks Community and Team and their help so far and we hope to help them as well through the creation of open-source protocols.

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