Guide: Do you Know Stacks Blockchain?

Bitcoin blockchain is one of the most trusted and well-known blockchains at present. However, it does have its limitations. Now, developers are trying to make use of bitcoin’s secure blockchain technology and add new functions at the same time. This is the case with stacks blockchain.

It is proved that the first layer of stacks is connected with the blockchain through its consensus transfer mechanism. This enables stacks to use the security and capital of bitcoin to realize decentralized applications and smart contracts.

At this point, there are so many blockchains that it may be difficult to track them. With this, the stacks blockchain is completely different from any other blockchain at present. Let’s see what’s different.

Definition of Stacks

A popular misconception about stacks blockchain is that it is the second layer side chain of bitcoin blockchain. However, this is not true. Stacks has its own first layer blockchain, similar to Ethereum and Cardano, which are their own blockchains, except that stacks blockchain uses the first proof of transfer (POX) consensus mechanism to connect with bitcoin blockchain. This type of blockchain runs in parallel with another blockchain – an example of stack – bitcoin blockchain.

How does Stacks Blockchain Work?

Stacks’ unique mining algorithm ensures that the history of all blocks once created is solved on bitcoin. Each bitcoin block can mine at most one stack block. If there is competition, a winning stack block is randomly selected through the cryptographic sorting process.

Pox is a unique mining system in which block producers choose another cryptocurrency by sending another cryptocurrency to a preset address list on another blockchain. It sends bitcoin to the bitcoin address regularly specified by the STX token holder in the stacks 2.0 version of pox.

Pox mining, like POW mining, is a single leader mining. Each block is created by a miner, and each miner can select any existing block as its parent block.
Why are stacks important?

The importance of stacks blockchain stems from its purpose to bring new functions to the main network blockchain of bitcoin. However, since the blocks of stacks are anchored on the blockchain of bitcoin, the time for mining the blocks of stacks is still the same as that of bitcoin, about 10 minutes.