"A completely separate network and separate blockchain, yet it shares CPU power with Bitcoin."
- Satoshi Nakamoto
Bitcoin Creator
"The world will ultimately have one currency, the internet will have one currency. I personally believe that it will be Bitcoin."
- Jack Dorsey
CEO of Twitter & Sauare
STX - Is what you get when you bring together independent entities, developers and community members working together to build a user owned internet on bitcoin. Because of the now obviously broken internet it's been a concern of cyber safety, for this reason developers have started projects involving blockchain for more secure internet surfing. This was previously not possible.
The project was started way back in 2013 by Princeton scholars, Maneeb Ali and Ryan Shea to solve underlying problems of web and mobile apps. They have been busy on a lot of projects including the blockchain based decentralised identity DID in 2014, blockstack browser, decentralised storage system amongst other projects.
Just yesterday (14 January 2021) the stacks ecosystem launched a mainnet, stacks 2.0, promising to bring secure apps and smart contracts to Bitcoin. The motive here is the believe in that bitcoin can be the foundation for the new user owned internet.
With stacks as the connected chain and bitcoin as the base chain, Stacks is happy to present Proof of transfer as the first consensus algorithm between two blockchains. Instead of burning electricity on proof of work, PoX reuses the already minted bitcoins as proof of computation and miners present their cost of mining in bitcoin directly.
There is more on mining for STX and stacking to earn BTC. More info available on stacks
