When was STX coin issued? Learn about the origin of STX coin in one article

The innovative STX coin, the native token of the Stacks Protocol, originated in 2017 and was launched in 2020, bridging the gap between Bitcoin and smart contracts.

Oct 01, 2024 at 01:59 pm

1. Unveiling the Origins of STX Coin: A Comprehensive Overview

2. Inception: Birth of the Stacks Protocol

• The genesis of the STX coin lies in the inception of the Stacks Protocol in 2017.
• Founded by Muneeb Ali, it aimed to bridge the gap between Bitcoin and smart contracts.

3. 2019: Pre-Launch Primer Sale

• In February 2019, Stacks conducted a pre-launch primer sale, raising $25 million to fund its development and adoption.
• This sale attracted early investors and enthusiasts who believed in the potential of the Stacks Protocol.

4. 2020: STX Coin Launch

• On November 12, 2020, Stacks launched the STX coin, the native token of the Stacks Protocol.
• STX coins provide rewards to network participants for securing the protocol through Proof-of-Transfer (PoX).

5. STX Coin's Role in the Stacks Ecosystem

• STX coins are essential for the functionality of the Stacks Protocol:

  • Securing the Proof-of-Transfer consensus mechanism.
  • Providing rewards to miners and validators.
  • Facilitating transactions and smart contract execution.

6. Conclusion

The STX coin has its roots in the innovative Stacks Protocol, bridging the worlds of Bitcoin and smart contracts. Its launch in 2020 marked a significant milestone in the evolution of the blockchain landscape, enabling a seamless transition between the two major technologies.