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TIMESTAMPS
0:00 Intro
2:20 History Of Blockstack
5:40 What Is Blockstack?
7:06 How Does Blockstack Work?
9:50 STX Cryptocurrency
12:19 Token Price Analysis
14:13 Blockstack Roadmap
16:20 Conclusion

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⛓ Useful Links ⛓
► TEDx Talk By Blockstack CEO Muneeb Ali:    • Welcome to the new internet | Muneeb ...  
►Muneeb’s PhD Thesis On Blockstack: https://muneebali.com/thesis
►Blockstack Updated Whitepaper: https://uploadsssl.webflow.com/5e7b1...
► STX Tokenomics In Detail: https://uploadsssl.webflow.com/5e7b1...
► Updated STX Token Emission Schedule: https://forum.stacks.org/t/poxconsen...
► STX Cryptocurrency Wallet: https://wallet.blockstack.org/

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⏳History Of Blockstack⌛

Blockstack was founded by Muneeb Ali and Ryan Shea in 2013 at Princeton University. Muneeb is the current CEO of Blockstack and holds a PhD in computer science from Princeton University. Ryan is an entrepreneur with a bachelor’s in Mechanical Engineering and Computer Science from Princeton University. Ryan left Blockstack in 2018 to start his own company which has yet to be named

Blockstack was the subject of Muneeb’s PhD thesis, and had been in development for 4 years with the help of Princeton and Stanford scholars before launching its first ICO. Blockstack has hosted multiple conferences which featured key public figures inside and outside of the crypto space including Andreas Antonopoulos and even Edward Snowden

‍♂‍What Is Blockstack?‍♂‍

Blockstack is a cryptocurrency project which aims to be the decentralized computing platform for the next generation of the internet. You can think of Blockstack as the application layer of the internet, the layer which is currently owned and operated by companies like Google and Facebook

Unlike these tech giants, Blockstack makes it possible to build applications where privacy can be preserved and where users are always in control of their data. It does this using the Bitcoin blockchain for security. Around 500 applications have been built on Blockstack to date, including a browser which was built by the Blockstack team in 2016

How Does Blockstack Work?

Blockstack uses a novel consensus mechanism called Proof of Transfer or PoX. PoX consists of two parties: miners and stackers. Minters commit Bitcoin to the Blockstack blockchain for a chance to mine a block and earn STX tokens. Stackers lock up their STX tokens for a 10day period to earn a cut of the Bitcoin commitment by miners as a reward for securing the network

Each block on the Blockstack blockchain only stores user identity and transactional metadata associated with that identity. This user identity is used to interact with all the applications on the Blockstack ecosystem. All data generated by user identities is stored on the Gaia Storage System and is controlled by the user the data belongs to

STX Cryptocurrency

STX is Blockstack’s native cryptocurrency token. It is burned to register digital assets to the Blockstack blockchain. This includes user identities and smart contracts. However, STX mining rewards are paid for using inflation and there is no maximum supply. Block rewards are cut in half every 4 years due to STX’s halving cycle

STX Price Analysis

The STX token has seen some relatively unimpressive price performance since its release. However, with the launch of the Blockstack main net around the corner, the STX mining rewards and BTC stacking rewards could be lucrative enough to dive serious demand for the STX token and raise price

Blockstack Roadmap

Blockstack expects to launch the final phase of its 2.0 testnet and then its main net by year’s end. Both Blockstack and Blockstack PBC, the company which develops the project, rebranded to Stacks and Hiro PBC in October

This was to reduce confusion between the project and company. It also marked a shift in focus to building the Blockstack ecosystem and signaling a commitment to values such as decentralization and privacy

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Disclaimer

The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.

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