Is Stacks a Good Investment?

Introduction

Blockstack enables this by offering an all-new internet platform, where all decentralized apps are run locally on the user’s browser, and users continue to own their data (text, images, videos, and files). Using the power of blockchain, a Blockstack user gets digital keys to create their identity on the Blockstack network. User data can be stored locally or connected to his/her storage hosting providers, allowing the user to retain full control. Sharing of content is achieved through a secure and encrypted medium. The Blockstack network supports tokens like bitcoin and other cryptocurrencies and is available for peer-to-peer transfer or charging for downloads, subscriptions, and more.

The 3 main advantages of Stacks

The following are the three primary features of Stacks:

1.   Members of the DeFi space can enjoy the extended features of Bitcoin while executing smart contracts.

2.   The Stacks blockchain offers users the advantage of enjoying the combined features of two independent blockchains on every transaction.

3.   Some reward programs offered by the network are usually offered with Bitcoin. Members of the Stacks blockchain have the opportunity to earn rewards in Bitcoin instead of any other token that forces them to subsequently convert it into Bitcoin.

One of the project’s first features, Blockstack Authentication, connects your identity to all of the dApps in the Blockstack ecosystem. It utilizes single sign-on with your universal username, and in place of passwords, public-key cryptography that runs on your local device’s software. Authentication is entirely on-chain, maintained by the Blockstack blockchain and Blockstack Naming System.

Similar to Ethereum’s Solidity, Blockstack implements its own smart contract programming language, Clarity. Unlike Solidity, Clarity is non-Turing complete over a single transaction. However, it is Turing complete over the history of transactions. Blockstack keeps the majority of a dApp’s business logic off-chain and prevents the virtual machine (VM) from compiling smart contracts. In fact, most dApps using Blockstack aren’t actually smart contracts.

How Does Blockstack Work?

Stacks Blockchain

As you could probably guess, the Stacks blockchain is the foundation of Blockstack. It implements a leader election process with Tunable Proofs to maintain consensus. The Tunable Proofs enables Blockstack to combine native Proof-of-Work (PoW) consensus with the hash power of a more established blockchain.

Currently, the Stacks blockchain includes a combination of its own Proof-of-Work and a Bitcoin Proof-of-Burn consensus. To become a leader (miner), you burn the underlying cryptocurrency (bitcoin) and commit a set of transactions. You receive a mining reward if your transactions match the ‘winning’ chain. Once the network is large enough, the Blockstack team plans to switch the Stacks blockchain over entirely to a native PoW consensus.

Blockstack Authentication

One of the project’s first features, Blockstack Authentication, connects your identity to all of the dApps in the Blockstack ecosystem. It utilizes single sign-on with your universal username, and in place of passwords, public-key cryptography that runs on your local device’s software. Authentication is entirely on-chain, maintained by the Blockstack blockchain and Blockstack Naming System.

Gaia Data Storage

According to the Blockstack whitepaper, “[Gaia is] a user-controlled storage system that enables applications to interact with private data lockers.”

Individuals, rather than the Stacks blockchain, host these data lockers. Instead, the blockchain records pointers to a piece of data’s Gaia location. As with other forms of blockchain storage, Gaia removes the need to trust third-party cloud storage providers like Amazon and Google.

Clarity Smart Contracts

Similar to Ethereum’s Solidity, Blockstack implements its own smart contract programming language, Clarity. Unlike Solidity, Clarity is non-Turing complete over a single transaction. However, it is Turing complete over the history of transactions. Blockstack keeps the majority of a dApp’s business logic off-chain and prevents the virtual machine (VM) from compiling smart contracts. In fact, most dApps using Blockstack aren’t actually smart contracts.

Libraries and SDKs

The Blockstack developer community has a substantial (and growing) list of tools to help developers build Blockstack applications. The list includes, but isn’t limited to libraries for:

• Android
• iOS
• Javascript
• React Native

App Mining

Every month, Blockstack rewards the best apps in the ecosystem with a $100,000 prize pool. The top app receives 20 percent of the total prize ($20,000). The next best app receives 20 percent of the remaining pool ($16,000). And so on until the pool is dry.

Blockstack has partnered with four independent companies (Product Hunt, Awario, TryMyUI, Internet Labs), which rate the apps using their distinct proprietary data. Your app’s ranking depends on which Blockstack features you’ve integrated, how you’ve improved since the previous month, and how many standard deviations you are away from the average score in your category, among many other aspects.

The Stacks Token (STX)

The Stacks token is the native token of the Blockstack ecosystem. You spend STX to register digital assets, execute smart contracts, perform transactions, and anchor app chains, among other activities.

Financial Analysis

The STX coin price has seen substantial growth in the past 24 hours as the price retested the recent breakout of the $1 resistance level. The price has pumped back up from the level with an intraday jump of 22%. The token price had made a morning star pattern with a bullish engulfing candle in the shorter timeframe resulting in the ongoing uptrend.

The Stacks' ROI exceeded in the 'Infrastructure' category which had 403% growth over the past year and Stacks underperformed in the crypto market which had 3718% growth over the past year in this writing. To find out more you can take a look here.

The Stacks' Popularity shows that Twitter with a 33% growth rate has a good function in marketing and social media, However, Reddit with a 0% growth rate, and Telegram with a -7% growth rate doesn`t have good results Based on the chart, so they need better marketing strategies, asap. If you need to learn more and see the chart, use this link. All the significant EMAs are below the token price representing the strong bull run, and the EMAs are moving with a positive slope that may soon generate many bullish crossovers. 

The Stacks' market cap presently, the STX token price is trading at $1.33, with a +22.10% gain in market cap within the past 24 hours, in this writing. In addition, the coin price has faced a boom of +3.68% in the intraday trading volume, However, its liquidity score is 48% below the market's average score, which means that it would be harder to sell Stacks' if the market is falling. You can find our report about Stacks' market capitalization, price, and liquidity score here. The rising intraday profit margin and the rising intraday trading volume projects the increasing number of buyers that may soon push the price even higher.

You're saying that I should invest in Stacks Token?

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