Blockstack project introduces a new economic model based on rewarding STX holders with Bitcoin
The content site is one of the sites that provide the service of answering general questions and solving puzzles and crossword puzzles
Where the content site is primarily interested in answering your questions in all areas, including solving puzzles and crossword puzzles
Answer Blockstack project introduces a new economic model based on rewarding STX holders with Bitcoin
Blockstack Project is an open source blockchain platform that offers a set of libraries and software tools for developers to build their own decentralized applications.
Spread Mr. Munib Ali, CEO and co-founder of Blockstack project yesterday set a new profit model.
In his post, Ali explains how STX holders can estimate the potential profits when Stacks 2.0 is officially launched.
Ali added that Stacks 2.0 will continue to use the Proof of Transfer (PoX) consensus protocol, which is currently in use in its beta release.
The POX algorithm allows Stacks users to get bitcoin rewards for “stacking” or locking in STX coins.
Read:The decentralized finance project “DeFi100” deceives and pulls the rug out from under the legs of investors!
Proof of Stake allows you to win more of the same assets by betting.
PoX enables you to earn Bitcoin.
Watch this economic model for different scenarios and profits:
– Muneeb October 9, 2020
According to the proposed economic model, users who contribute to the growth of the network will be able to earn these rewards, which are estimated between 0% to 18% on STX tokens.
The rewards will be given after the STX tokens are locked for two weeks.
In terms of details, it has been estimated that STX holders will be able to earn an annual rate of 9.2%, depending on the size of the user’s participation and the mining pool involved.
It is important to note that the annual bonus will be paid in Bitcoin, with a bonus of 1,5063 Bitcoin each year, which is approximately $16,419.
Ali adds and clarifies simplistically that STX holders and holders will essentially earn Bitcoin by locking in their STX coins.
He further clarified in the report that STX holders will receive a “sort of discount” on mining operations that allows them to shut down STX and try mining as well.
Read:Ex-Finance Minister: Bitcoin Cannot Replace Money
Regarding the pairing between STX and Bitcoin, Ali commented that the rewards were in Bitcoin for the following reasons:
We are already connected to Bitcoin, and we offer smart contracts that revolve around Bitcoin, so it is only natural to have more financial products related to Bitcoin as a common asset.
At the time of writing, Bitcoin is on an uptrend and was worth $11,312 at the time of writing, rising again from its previous range of $10,000 after Square bought about 4,700 BTC.
Read also:
The ten biggest financial scandals of this century, including scandals related to cryptocurrency … Get to know them
Ripple introduces its first product in the field of XRP digital currency lending
And you can ask questions on the content site through the word “Ask a question” at the top of the site, where we answer your questions in a short time