Within its first year, after its launch stacks ecosystem managed 140,000 NFTs minting on its platform. It has shown its potential within a year. And with its incredible potential stacks ecosystem marked its name as the Best Web 3.0 project on Bitcoin.
Best Perfomance Of Stacks Ecosystem Within A Year:
In just the first year of Stacks Blockchain’s introduction in the crypto world. The stacks ecosystem (STX), which focuses to develop bitcoin configurable. It has successfully gained up to 350 million monthly API requests, 40,000 Hiro wallet installation ( a tool used for development by stacks to make applications on bitcoin), and 2,500 transparent smart contracts. Also, a report by electric capital told that these high statistics made Stacks ecosystem the best Web 3.0 project on Bitcoin. The Electric Capital is a venture capital company, centered on cryptocurrencies and financial technology.
Over 11,000 users gained up to 100 BTC rewards within a month on stacks. Because of its rare proof-of-stake, or PoX consensus, mechanism. Additionally, the miners seek bitcoin to authenticate transactions, execute smart contracts, and mining new blocks on Stack blockchain and achieve STX in form of rewards.
While Bitcoin bids are delivered to STX owners as a reward, for functioning on jobs. Such as running nodes. So far, the system has sent up to $50 million value Bitcoin as a reward. And excelled at $1 billion in total value locked.
As per updates, there was a DeFiance development on Bitcoin created by Stacks. And, these incorporate the introduction of wrapped BTC(BTC), the Arkadiko borrowing and lending protocol, and bitcoin lightning decentralized swaps, that enable users to exchange STX for bitcoin, Stablecoin, and altcoins.
Moreover, the first two projects that take place on the Stacks ecosystem were Newyork city and Miami’s Citycoin. That makes $50 million for their own city treasuries. The executive director of the Stack, Brittany Laughlin word on its accomplishment.
Words By Stacks EcosystemExecutive Director Of Stacks:
“The Stacks community has proven the incredible potential of smart contracts for Bitcoin. From DeFi to NFTs, city coins to philanthropic efforts, portable identity to new infrastructure, all in a single year. The technology and resources are all here. What happens next is dictated by visionary builders.”
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The news source is Cointelegraph.
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