Stacks (formerly known as Blockstack) is an open-source, developer-friendly network for building Decentralised Apps (dApps) and smart contracts. Stacks runs on the Stacks blockchain, a layer-1 blockchain that connects to the Bitcoin blockchain with a 1:1 block ratio. Built on top of the Bitcoin blockchain, the Stacks blockchain allows users to write smart contracts in Clarity and create digital assets with the Bitcoin blockchain as their foundation.

Stacks also introduces a new consensus mechanism, known as Proof of Transfer (PoX). PoX harnesses the security and durability of Bitcoin’s Proof-of-Work (PoW) consensus mechanism without the arduous and insecure process of bootstrapping a new PoW chain. Blockstack also gives users encrypted data storage with Gaia, a decentralised storage network built on the Stacks platform. Data is encrypted and stored independently, controlled by the user’s private key. The STX token is the native asset of the Stacks blockchain. It is used to fund transactions, such as executing smart contracts or creating a digital asset.