What is Stacks?
STX is the native token of Blockstack. Blockstack is a decentralized smart contract application that is integrated into the Bitcoin blockchain, which allows users to create smart contracts on the Bitcoin blockchain.
Essentially, Blockstack is like a plug-in smart contract service for Bitcoin users.Unlike other smart contract blockchains, you can’t create smart contracts on the Bitcoin network, hence why Blockstack was created. Blockstack uses of combination of miners and “stackers” (stakers) to run the Blockstack protocol. Miners “mine” blocks to earn STX token. Whereas stakers “stake” STX tokens to secure the Blockstack network and earn rewards in Bitcoin.
STX is an inflationary token, meaning there is no maximum supply. However, inflations rates are set to drop as the network grows.
