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What is STX coin? What does STX coin mean?
STX, the cryptocurrency for the Stacks blockchain, facilitates network security, smart contract execution, and governance within the Stacks ecosystem.
Oct 07, 2024 at 02:36 pm
1. What is STX Coin?
STX, or Stacks, is a cryptocurrency that powers the Stacks blockchain, a decentralized computing network built on the Bitcoin blockchain. STX tokens are used for various purposes within the Stacks ecosystem, including:
- Securing the network: STX tokens are used to reward miners who validate transactions and produce new blocks on the Stacks blockchain.
- Fueling smart contracts: Developers can use STX tokens to execute smart contracts and decentralized applications (dApps) on the Stacks blockchain.
- Governance: STX holders have voting rights in the Stacks decentralized autonomous organization (DAO), which governs the development and operation of the Stacks blockchain.
2. What does STX Token Mean?
The name "Stacks" refers to the way the Stacks blockchain is built "on top" of the Bitcoin blockchain, forming a "stack." The STX token serves as the foundation of this stack, powering the various functionalities of the Stacks blockchain.
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