Stacks has rolled out an upgrade to Dual Stacking, completing the migration from the previous V1 version. Users who had already enrolled were automatically migrated and do not need to take any action.
However, participants who were earning bitcoin only through partner applications are required to enroll directly in Dual Stacking to continue receiving rewards. Stacks recommends verifying enrollment via the official Stacks application to ensure uninterrupted participation.
STX Info
Stacks, previously recognized as Blockstack, is an innovative layer positioned atop Bitcoin, specifically engineered to facilitate smart contracts and decentralized applications (DApps). Its distinct proposition is to capitalize on Bitcoin’s robustness and security, enabling these applications and contracts to interact with Bitcoin as a foundational asset and commit their transactions directly to the Bitcoin blockchain.
The operational mechanics of Stacks are underpinned by several key components. Primarily, it integrates the “Proof of Transfer”, a novel consensus model that harnesses the robustness of Bitcoin’s Proof of Work, achieving both scalability and decentralization without amplifying the environmental footprint. In tandem with this, Stacks incorporates “Clarity”, a predictable and security-centric smart contract language. Additionally, sBTC, another major element, fortifies smart contracts on Bitcoin, leveraging the immense hash power of the Bitcoin network and offering an avenue for direct contract interactions with the Bitcoin blockchain.
The Stacks token (STX) is the central element of the platform, it can be used to activate smart contracts, process transactions and register new digital assets on the Stacks 2.0 blockchain.
