Stacking is locking your STX temporarily to support the network’s security and consensus. As a reward, you’ll earn the Bitcoin that miners transfer as part of Proof of Transfer.

Bitcoin (BTC) being the first and most successful of all cryptocurrencies has won the hearts of users through the exclusive features it possesses. The coin has become the king of cryptocurrencies, considering the efficiency in its economical ability. However, there are still some loopholes with the network that many blockchain projects have proposed to tackle. One of the notable limitations faced with the Bitcoin network is the scalability issues it possesses. These major defects have geared concerns among blockchain projects and have raised innovations to curtail these issues. Stacks (STX), a layer 1 blockchain project, tackles the scalability challenges Bitcoin faces.

Stacks is a platform that facilitates the use of smart contracts and decentralized applications on the network. The blockchain platform generates its power from Bitcoin as it depends on it for security and the execution of transactions.

In other words, the Bitcoin network acts as the finality and security layer for the smart contracts contained and executed in the Stack Blockchain. Meanwhile, it is possible through the Proof of Transfer mechanism the platform adopts.

The connection between stacks blockchain and Bitcoin enables execution of transactions on the stack network as well as verification on the Bitcoin blockchain.

Stacks’ Team

The evolution of Stacks began in 2013. It initially aimed to provide a better internet system. The project was created by the founders of Blockstack – Muneeb Ali and Ryan Shea.

Years later, the project began to receive support from capital funds like Combinator, Digital Currency Group, and Winklevoss.

Thereafter, the project enjoyed further development. Some of the members of its team include leading researchers from MIT, Princeton, and Stanford.

Proof-of-Transfer

Unlike other blockchain projects that utilize the proof-of-work and proof-of-stake mechanism to secure their network, Stacks has developed a new consensus algorithm that is perfectly suitable for its operation and to secure the network. The mechanism is deduced from the Proof-of-Burn concept. Known as Proof of Transfer (PoX), it has marked the first consensus mechanism to use two blockchains. This concept ensures that already mined and existing cryptocurrencies of an existing and verified blockchain are not burnt. Instead, they secure the new blockchain.

The Proof of Transfer mechanism eliminates the system of burning cryptocurrencies. It requires that mined cryptocurrencies are transferred to other participants within the ecosystem.

The new Proof of Transfer consensus mechanism helps the network to facilitate its reward protocol. More interestingly, the system allows the network participants to receive rewards as well as transaction payouts in existing and stable cryptocurrencies. It gives these participants the opportunity to participate in the new blockchain at the same time.

This system allows Stacks to eliminate challenges that users experience with new blockchains. Thus, new users feel confident about joining the network.

Moreso, since the network is basically integrated with already existing blockchain (Bitcoin), it uses an already extremely secure blockchain to secure new chains without the need to require new Proof-of-Work chains and cryptocurrencies.

Clarity Programming Language

As said earlier, the Stacks Blockchain provides support for smart contracts, decentralized applications. It also enhances the creation of flexible virtual assets that are easily transferable.

In a bid to provide support for these smart contracts, the network uses the Clarity programming language to secure these activities.

Clarity programming language is a predictable programming language that uses no compiler. Stacks has deployed this programming language to help it bring smart contracts to Bitcoin.

More precisely, the programming language uses predictable source code for executing smart contracts while publishing them on the blockchain nodes.

The system, therefore, utilizes this tool in facilitating the security of the Stack ecosystem via the decidable programming language.

Stacks and Bitcoin

Stacks and Bitcoin are basically two interconnected blockchain networks that work hand in hand. It is quite interesting that both blockchain networks do not depend on each other. They are independent networks connected through the Proof-of-Transfer consensus mechanism.

Via this system, miners can transfer new cryptocurrencies as well as smart contracts on Bitcoin to other participants of the Stack network.

Stacks 2.0

Stacks 2.0 is an upgraded innovation from the Stack team to bring secure apps and smart contracts to Bitcoin.

The Stacks 2.0 mainnet launch allows developers to utilize the Stacks protocol to build a user-owned internet on Bitcoin. The platform allows users to earn Bitcoins.

STX Token

The STX token is the proprietary token of the Stacks Blockchain. Activities performed on the network rely on STX tokens.

STX tokens basically foster the execution of smart contracts on the Stacks network. The token functions as a tool to publish new smart contracts to the blockchain. It is also used for transaction processes such as paying fees and receiving rewards. The token follows the same successful trail with its blockchain network. It has attracted the interest of a significant number of users, especially users who crave Clarity smart contracts.

The token is available for trade at legal and leading cryptocurrency exchange companies.

Stacks’ Use Cases

Stacks (STX) has offered amazing functionality to its ecosystem,  especially to the Bitcoin network. It proposes new features to the Bitcoin network since Bitcoin is static and not flexible for adjustments. Through its integration with Bitcoin, users can initiate new features to the network without having to change Bitcoin itself.

Moreso, a major challenge for the Bitcoin network is scalability. Thus, Stacks blockchain seeks to solve the scaling issues with Bitcoin. Stacks extends the Bitcoin transaction capacity since Bitcoin has limited space for transactions.

Besides, Stacks adopts Bitcoin’s efficient security and finality to protect transactions conducted within the ecosystem. The network uses Bitcoin to settle transactions on the Bitcoin blockchain for each block generated.

Advantages of Stacks

Stacks is very beneficial to crypto users, especially members of the Stacks community.  The Stacks blockchain has offered users the advantage of enjoying combined features of two independent blockchains on every activity.

Members of the DeFi space can enjoy the extended features of Bitcoin while executing smart contracts.

Moreso, Stacks gives members the opportunity to earn Bitcoins. Certain reward programs the network provides are usually offered with Bitcoin. Stakers of the Stacks blockchain have the opportunity to earn their rewards in Bitcoin instead of any other token that would require them to later convert to Bitcoin.

Conclusion

Stacks (STX) with its unique features is a big addition to the blockchain industry. Since it allows users the benefits of merging smart contracts with Bitcoin’s functionality, it is correct to say that Stacks’ services will boost the adoption and use of Bitcoin in the crypto industry.

The outstanding functionality of the Stack blockchain makes it possible to predict a successful future for the network in the industry.

The avenue it gives users to be able to earn BTC by merely participating in the network is also a point of attraction towards the network.

By John Caroline

Request crypto is one of the latest tokens to benefit from being added to the Coinbase exchange. What’s more, the listing of this token is further proof of the big shift in Coinbase’s philosophy.

It wasn’t long ago that a listing on Coinbase equaled a major stamp of approval. To get listed on Coinbase, crypto engineers had to jump though a lot of hoops. In the process, they really had to prove to Coinbase that they were worthy of a listing. In this way, the exchange acted as a sort of crypto gatekeeper.

More recently, though, Coinbase has changed its tune… as you can see in this tweet from its CEO:

1/ Reminder about how Coinbase lists assets: our goal is to list *every* asset where it is legal to do so.

— Brian Armstrong (@brian_armstrong) June 28, 2021

He went on to mention that beyond the exchange’s listing standards (regarding safety and legality), this was a move toward freer markets. And, as he concluded, it was the way to make Coinbase the most innovative. It also happens to be a way that can make Coinbase more money. After all, the more tokens it lists, the more opportunities there are for trades. And charging trading fees is a big part of how Coinbase makes its coin.

So no complaints from the peanut gallery here. Coinbase is a publicly traded company now. It’s beholden to its shareholders. And increasing profits is one of the easiest ways to keep shareholders happy.

Now back to one of Coinbase’s most recent listings: Request crypto (REQ).

All About Request Crypto

In a nutshell, Request crypto is a utility token. It was created to ensure the stability and performance standards of the Request Network. This network is an Ethereum-based decentralized payment system. It allows folks to request a payment and receive money in a secure way. It also removed third-party oversight requirements. This is an important detail… because it’s one of the quickest ways to reduce transaction costs.

The other key benefit of the Request Network is that it works with currencies all around the world. It’s not limited to crypto. It’s not limited to fiat currencies. It transfers dollars to the Korean won and just about everything in between. It’s a robust network with an impressive amount of capabilities.

This process works by having one user create a payment request – or invoice. The invoice needs to include the address the payment should be sent and the amount it should be in. The terms of payment can also be included here for business transactions. Then, the request is delivered to the payer of the invoice. All the while, each and every step of the process is stored on the Request Network. This makes it easy to keep track of transactions, both for the payer and the payee.

The last thing worth mentioning about the Request Network – which is powered by Request crypto – is that it has incorporated laws from all around the world. This, it hopes, will keep it compliant with the various trade laws of every country around the world.

There really is some impressive engineering behind both the Request Network and the Request crypto that powers it. But as far as payment systems go, it has a lot of competition. And not just from the likes of Visa (NYSE: V), Square (NYSE: SQ) or PayPal (Nasdaq: PYPL).

The Competition Is Stiff

Beyond the legacy payment processing companies mentioned above, there are plenty of companies operating in the crypto space too. Circle, which issues the stablecoin USD Coin (USDC), has been in the payment processing game for close to a decade. Incidentally, it was the first company to receive a BitLicense from the New York State Department of Financial Services.

Request crypto also faces competition from Solana crypto and, to a lesser extent, Telcoin. Not to mention Coinbase Commerce, Electroneum, BitPay or CoinGate, among others. But specifically for business-to-business applications, Request crypto and the network it supports do stand out. What it boils down to is adoption.

This could be an exceptional tool for freelancers who pick up jobs around the world. Business consultants, writers, web designers and recruiters could all make good use of this type of payment system. And it has the possibility of cutting down on the paperwork needed for quarterly tax filings… since payments are vetted though international trade laws.

The Bottom Line on Request Crypto

As an experiment, there’s a lot to like about the Request Network. As an investment, there’s reason for both excitement and pause. It’s a penny crypto, after all…

Since its inception in 2017, it has yet to break the $1 mark. In fact, not long ago, you could pick it up for less than $0.05 a token. But trading volume has changed all of that. With the Coinbase listing came a lot of interest. Around 200% more interest than usual. If trading volume stays anywhere near that level, anything’s possible. Request crypto could launch past the $1 mark in a matter of days. But that’s pretty unlikely.

As a buy-and-hold play, Request crypto could be worth a gamble. If the Request Network does begin to catch on, you could see a slow but steady rise in value. But that’s a very big “if.” That being said, it’s a token we’ll be keeping a close eye on. A little momentum and an uplisting to Coinbase could be enough for companies to take notice of Request’s underlying capabilities.

Which products support REQ? 

What regions support REQ? 

Crypto to fiat trading pairs

Note: Coinbase Wallet does not support direct bank transactions. You’ll need to transfer your crypto to Coinbase.com or send it to an external address in order to cash out.

Crypto to crypto trading pairs 

See the full list of countries that Coinbase supports for crypto-to-crypto trading.

Note: Only assets hosted on the Ethereum blockchain can be converted through the Coinbase Wallet mobile app at this time. Learn more about trading on Coinbase Wallet.

How many confirmations are needed for REQ?

REQ requires 35 network confirmations. Learn about transaction confirmations.

Which blockchain network hosts REQ?

REQ is hosted on Ethereum. 

What are the minimum and maximum withdrawal amounts?

Coinbase has implemented safeguards to ensure a healthy and efficient network both on-chain and through our platform.  

These safeguards include both minimum and maximum amounts for each cryptocurrency we allow customers to send through the blockchain.

Minimum: 0.000000000000000001 REQ

Maximum: 250,000 REQ

By Matthew Makowski

DeFi was meant to bank the unbanked. Uproot corrupt financial systems. It was meant to allow people to opt out from the shackles of their national currencies. Yet here we are spending the last few months debating food, well food tokens. While the returns are impossible to ignore, there are immense, deep-rooted questions surrounding their sustainability and contributions to societal progress.

As part of our mission to thrust the DeFi space towards a more sustainable and equitable model, we are announcing the community-owned governance token: the Rari Governance Token, also referred to as $RGT.

We believe in fair distribution and liquidity mining is the best way to do it. We will be distributing 87.50% of the token to depositors within a short 60 day period. The remaining tokens will be reserved for the team and subject to The Rari Vesting Plan (details shortly!).

Value of the $RGT.

The $RGT will have a few different roles:

• Maintaining Governance: decisions to integrate new protocols, edit pool parameters, edit risk parameters, etc
• Passthrough Governance: if a pool accumulates other tokens like $COMP, $BAL, the token can serve as a passthrough for their governance
• Fee Discounts: the token can be used for fee discounts from the Rari Protocol

$RGT will be burned on every cent made by the protocol (70% of all revenues to be exact), decreasing the total supply of the token as the protocol succeeds. The $RGT will leverage the new Rari Protocol V2 (launching soon) which uses other projects (like Yearn, Aave, mStable, Synthetix, Chainlink) while also focusing on long-term sustainable yields.

Earn the token.

You will be able to participate in liquidity mining (alongside VC’s, other retail partners and many more) with the launch of Rari V2 on October 20th 2020. In order to begin earning $RGT, all you have to do is deposit into one of the pools! Below you will find the projected distribution curve with a speedy 60 day length to ensure maximum distribution.

Nearly half of the token is distributed within the first 15 days!

Get ready.

We are super excited to have you on our side, we hope that you will participate in the liquidity mining program. Stay tuned for more details as our launch date approaches. In the meantime follow us on Twitter and join our Telegram! Rari Governance Token (RGT) is available on Coinbase.

By Rari Capital