Cryptocurrency Q&A
How does Stacks coin work?
How does Stacks coin work?
CryptoMystic
Thu Oct 24 2024
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5 answers
1454
Stacks coin works through a unique consensus mechanism called Proof of Transfer (PoX), which allows miners to earn block rewards and transaction fees by transferring already-mined Bitcoin to Stacks token holders, instead of converting electricity and computing power. This process, known as 'stacking,' enables Stacks token holders to earn BTC while supporting network security and consensus.
5 answers
Rosalia
Sat Oct 26 2024
An intriguing aspect of the Stacks blockchain is that miners do not engage in traditional mining activities.
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IncheonBeautyBloomingRadianceGlow
Sat Oct 26 2024
The operation of Stacks revolves around the engagement of two distinct entities: miners and stackers.
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amelia_jackson_environmentalist
Sat Oct 26 2024
It's important to note that stackers are not stakers. These two groups interact within the Stacks ecosystem in a unique way.
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SakuraSpirit
Sat Oct 26 2024
The interplay between miners and stackers is governed by a specialized consensus mechanism known as Proof of Transfer, abbreviated as PoX.
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Valentina
Sat Oct 26 2024
PoX serves as the foundation for the smooth functioning of the Stacks blockchain.
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