Main navigation

Stacks Announces Mainnet Launch Event

News
Mon, 01/11/2021 - 13:09
article image
Alex Dovbnya
Stacks is set to celebrate the launch of Its mainnet with an upcoming event
Stacks Announces Mainnet Launch Event
Cover image via stock.adobe.com
Read U.TODAY on
Google News
Contents

In celebration of the upcoming launch of the Stacks mainnet (Stacks 2.0), Hiro Systems PBC (formerly known as Blockstack PBC) will be hosting a global event that will take place on Jan. 14. You can register now to secure your spot.    

The list of speakers will include many prominent influencers such as Morgan Creek Digital co-founder Anthony Pompliano and Blockchain.com co-founder Peter Smith. 

Hiro PBC CEO Muneeb Ali says that the mainnet launch will mark an “exciting new chapter” for the entire ecosystem: 

We look forward to celebrating all the hard work you all have put into Stacks 2.0 and kicking off an exciting new chapter as we continue our mission to build a user-owned internet on Bitcoin together.

Getting the SEC’s blessing

In 2019, Blockstack achieved a major feat by holding the very first token sale that was qualified by the U.S. Securities and Exchange Commission (SEC). 

In December, Reuters reported that its Stacks utility token could become tradable on U.S exchanges with the launch of Stacks 2.0 because, at that point, the cryptocurrency is expected to be decentralized enough to no longer be considered a security by the U.S. watchdog.

Such regulatory clarity is of paramount importance. Last month, the SEC sued Ripple, the company behind XRP, together with two of its executives, and rumors started circulating that the blockchain decacorn was only the first shoe to drop. 

Unleashing Bitcoin’s full potential 

While Bitcoin is undoubtedly the most robust, and valuable blockchain, its use cases are limited. 

Many view the largest cryptocurrency as merely a gold alternative. Stacks aims to bring new functionalities to the Bitcoin ecosystem such as smart contracts and apps.

The Stacks blockchain relies on the novel Proof-of-Transfer (PoX) mechanism to achieve consensus between itself and Bitcoin. Among other things, this mechanism enables tools for developers with which they could build things like DeFi, typically found on Ethereum.

The end goal is to activate the immense value and security of Bitcoin as a foundation for a better internet where ownership by its users is the default.      

article image
About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.