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project icon for blockstack

Blockstack

STX
$0.005313
4.63%
Positive delta icon

Blockstack is an open-source blockchain project supporting a decentralized web through its decentralized alternatives to DNS and HTTP, and methods for integrating blockchains with existing cloud storage networks.

Overview

Project Stage

Live status icon

Amount Raised

$73,100,000.00

Market Cap

$271K

Sector

Data Storage

Blockchain

Native token icon

Blockstack

Funding Source

Token Sale

Project Profile

Blockstack is a decentralized alternative to basic web protocols and services, such as DNS and HTTP, that enables blockchains to integrate with existing cloud storage networks. Blockstack’s multi-layer protocol is currently built on top of Bitcoin which it uses as a base blockchain. Core services offered through Blockstack include BNS, a blockchain-based alternative to DNS, Atlas, a network protocol for data transfer and encryption, Clarity, a decidable and interpreted smart contracting language, and Gaia, a network of hash-pointer-storing hubs that maps user data locations. Blockstack’s founders participated in Y Combinator in 2014 and secured investment from Union Square Ventures and Naval Ravikant before the decision to launch a meta token on Ethereum in order to incentivize network participation and raise funds. In September 2019, the project raised a further $23 million in an SEC-regulated token sale. A public alpha of the Blockstack browser was released in Q4 2017 with a DApp store, App.co, released in Q2 2018.

Project Details

The Atlas Peer Network is a protocol that replaces HTTP for data transfer and encryption. Gaia is a high-performance distributed storage system featuring a network of hubs storing hash pointers mapping the locations of users data, such as hashes of data stored in AWS of Microsoft Azure. The Blockchain Name Service removes the central intermediaries the internet has thus far required to hold a comprehensive registry. BNS associates blockchain addresses to human-readable names, which are globally unique and owned by the person with the associated ECDSA private key. Blockstack developed Clarity as a Turing-incomplete language that is decidable and interpreted, meaning that developers know precisely how code will run before it is executed, theoretically increasing security and reducing the attack surface of contracts. Blockstack introduced the abstraction of a virtualchain in their whitepaper as a means to separate complicated logic from data storage on the Blockstack base blockchain. Bitcoin functions as Blockstack’s base blockchain and stores the BNS. Most operation types on the network, such as retrieving and reading data, need not interface with the base blockchain, helping Blockstack to scale. Other operations, like registering a name or changing its information, will require transactions on the base blockchain with any associated costs. The project is currently preparing for its transition to the new Stacks 2.0 blockchain and as of now, the team plans to use a novel mining protocol, called Proof of Transfer (PoX) that will leverage the security of the Bitcoin blockchain.

Asset Details

Originally, the Blockstack initiative was funded by VCs before a sale of Stack Tokens (STX) was conducted to raise funds and incentivize network participation. STX is used as a means of payment for services on the network, for voting in governance decisions, and as a reward for contributing to the network. STX can be spent to register names and applications on Blockstack. Associating costs to network operations helps prevent spam and reflects domain names’ scarcity. The stacks token also entitles holders to a say in key governance decisions moving forward.

During the Blockstack token sale, a maximum of 440 million tokens were up for sale. The remaining tokens were generated and distributed in three different “mining” processes. The total supply of STX is expected to reach 4.7 billion in ~10 years.

project icon for blockstack

Blockstack

STX
$0.005313
4.63%
Positive delta icon

Blockstack is an open-source blockchain project supporting a decentralized web through its decentralized alternatives to DNS and HTTP, and methods for integrating blockchains with existing cloud storage networks.

Overview

STATUS

MARKET CAP

BLOCKCHAIN

TOKEN TYPE

Live status icon
Live
$271K
Native token icon

Blockstack

N/A

FUNDING SOURCE

AMOUNT RAISED

SECTOR

Token Sale

$73MM

Data Storage

Project Profile

Blockstack is a decentralized alternative to basic web protocols and services, such as DNS and HTTP, that enables blockchains to integrate with existing cloud storage networks. Blockstack’s multi-layer protocol is currently built on top of Bitcoin which it uses as a base blockchain. Core services offered through Blockstack include BNS, a blockchain-based alternative to DNS, Atlas, a network protocol for data transfer and encryption, Clarity, a decidable and interpreted smart contracting language, and Gaia, a network of hash-pointer-storing hubs that maps user data locations. Blockstack’s founders participated in Y Combinator in 2014 and secured investment from Union Square Ventures and Naval Ravikant before the decision to launch a meta token on Ethereum in order to incentivize network participation and raise funds. In September 2019, the project raised a further $23 million in an SEC-regulated token sale. A public alpha of the Blockstack browser was released in Q4 2017 with a DApp store, App.co, released in Q2 2018.

Project Details

The Atlas Peer Network is a protocol that replaces HTTP for data transfer and encryption. Gaia is a high-performance distributed storage system featuring a network of hubs storing hash pointers mapping the locations of users data, such as hashes of data stored in AWS of Microsoft Azure. The Blockchain Name Service removes the central intermediaries the internet has thus far required to hold a comprehensive registry. BNS associates blockchain addresses to human-readable names, which are globally unique and owned by the person with the associated ECDSA private key. Blockstack developed Clarity as a Turing-incomplete language that is decidable and interpreted, meaning that developers know precisely how code will run before it is executed, theoretically increasing security and reducing the attack surface of contracts. Blockstack introduced the abstraction of a virtualchain in their whitepaper as a means to separate complicated logic from data storage on the Blockstack base blockchain. Bitcoin functions as Blockstack’s base blockchain and stores the BNS. Most operation types on the network, such as retrieving and reading data, need not interface with the base blockchain, helping Blockstack to scale. Other operations, like registering a name or changing its information, will require transactions on the base blockchain with any associated costs. The project is currently preparing for its transition to the new Stacks 2.0 blockchain and as of now, the team plans to use a novel mining protocol, called Proof of Transfer (PoX) that will leverage the security of the Bitcoin blockchain.

Asset Details

Originally, the Blockstack initiative was funded by VCs before a sale of Stack Tokens (STX) was conducted to raise funds and incentivize network participation. STX is used as a means of payment for services on the network, for voting in governance decisions, and as a reward for contributing to the network. STX can be spent to register names and applications on Blockstack. Associating costs to network operations helps prevent spam and reflects domain names’ scarcity. The stacks token also entitles holders to a say in key governance decisions moving forward.

During the Blockstack token sale, a maximum of 440 million tokens were up for sale. The remaining tokens were generated and distributed in three different “mining” processes. The total supply of STX is expected to reach 4.7 billion in ~10 years.

Recent News

Blockstack releases updated consensus mechanism including BTC rewards for miners.

In version 2 of the Stacks blockchain, miners are required to post a BTC bond in order to mine a block. This Proof of Transfer mechanism has two classes of user: miners and stackers. Miners produce blocks and earn STX tokens in exchange for their bonded BTC at a rate of 500 STX per block. The submitted BTC will then be distributed amongst stackers as another reward. This approach differs from Proof of Stake in that submitted BTC cannot be lost through a slashing mechanism. CEO Muneeb Ali estimates that $10k worth of STX will be required to participate as a staker.

February 6, 2020

Sources:

CoinDesk

Law firm behind Blockstack and Props' Regulation A token offerings offers commentary on the process.

Regulation A is a securities registration exemption that allows firms to raise up to $50m per year, includes non-accredited investors, does not create restrictions on resale, and preempts state registration and qualification of the offering. Issuing firms are required to file regular financial statements with the SEC, and cannot concurrently distribute and receive tokens. Following approval from the SEC, Blockstack and Props completed successful offerings earlier this year. Reg A offerings may be particularly appropriate when the entity aims to distribute tokens to a very broad user base in an ongoing manner.

October 19, 2019

Sources:

more

Blockstack has raised $23M in an SEC-approved token sale.

The company sold $15.5M and $7.6M worth of tokens to U.S. and Asian investors, respectively, at a general offering price of $0.30. Stacks tokens purchased during the sale will be released in equal amounts each month over a two year period. Blockstack previously held a token sale in 2017, during which tokens were sold at a general offering price of $0.12; tokens sold during the 2017 sale are to be distributed in the same manner, with the exception of 50 million tokens subject to a four-year time lock.

September 11, 2019

Sources:

CoinDesk
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project icon for blockstack

Blockstack

STX
$0.005313
4.63%
Positive delta icon

Blockstack is an open-source blockchain project supporting a decentralized web through its decentralized alternatives to DNS and HTTP, and methods for integrating blockchains with existing cloud storage networks.

Overview

STATUS

MARKET CAP

BLOCKCHAIN

TOKEN TYPE

Live status icon
Live
$271K
Native token icon

Blockstack

N/A

FUNDING SOURCE

AMOUNT RAISED

SECTOR

Token Sale

$73MM

Data Storage

Project Profile

Blockstack is a decentralized alternative to basic web protocols and services, such as DNS and HTTP, that enables blockchains to integrate with existing cloud storage networks. Blockstack’s multi-layer protocol is currently built on top of Bitcoin which it uses as a base blockchain. Core services offered through Blockstack include BNS, a blockchain-based alternative to DNS, Atlas, a network protocol for data transfer and encryption, Clarity, a decidable and interpreted smart contracting language, and Gaia, a network of hash-pointer-storing hubs that maps user data locations. Blockstack’s founders participated in Y Combinator in 2014 and secured investment from Union Square Ventures and Naval Ravikant before the decision to launch a meta token on Ethereum in order to incentivize network participation and raise funds. In September 2019, the project raised a further $23 million in an SEC-regulated token sale. A public alpha of the Blockstack browser was released in Q4 2017 with a DApp store, App.co, released in Q2 2018.

Project Details

The Atlas Peer Network is a protocol that replaces HTTP for data transfer and encryption. Gaia is a high-performance distributed storage system featuring a network of hubs storing hash pointers mapping the locations of users data, such as hashes of data stored in AWS of Microsoft Azure. The Blockchain Name Service removes the central intermediaries the internet has thus far required to hold a comprehensive registry. BNS associates blockchain addresses to human-readable names, which are globally unique and owned by the person with the associated ECDSA private key. Blockstack developed Clarity as a Turing-incomplete language that is decidable and interpreted, meaning that developers know precisely how code will run before it is executed, theoretically increasing security and reducing the attack surface of contracts. Blockstack introduced the abstraction of a virtualchain in their whitepaper as a means to separate complicated logic from data storage on the Blockstack base blockchain. Bitcoin functions as Blockstack’s base blockchain and stores the BNS. Most operation types on the network, such as retrieving and reading data, need not interface with the base blockchain, helping Blockstack to scale. Other operations, like registering a name or changing its information, will require transactions on the base blockchain with any associated costs. The project is currently preparing for its transition to the new Stacks 2.0 blockchain and as of now, the team plans to use a novel mining protocol, called Proof of Transfer (PoX) that will leverage the security of the Bitcoin blockchain.

Asset Details

Originally, the Blockstack initiative was funded by VCs before a sale of Stack Tokens (STX) was conducted to raise funds and incentivize network participation. STX is used as a means of payment for services on the network, for voting in governance decisions, and as a reward for contributing to the network. STX can be spent to register names and applications on Blockstack. Associating costs to network operations helps prevent spam and reflects domain names’ scarcity. The stacks token also entitles holders to a say in key governance decisions moving forward.

During the Blockstack token sale, a maximum of 440 million tokens were up for sale. The remaining tokens were generated and distributed in three different “mining” processes. The total supply of STX is expected to reach 4.7 billion in ~10 years.

Recent News

Blockstack releases updated consensus mechanism including BTC rewards for miners.

In version 2 of the Stacks blockchain, miners are required to post a BTC bond in order to mine a block. This Proof of Transfer mechanism has two classes of user: miners and stackers. Miners produce blocks and earn STX tokens in exchange for their bonded BTC at a rate of 500 STX per block. The submitted BTC will then be distributed amongst stackers as another reward. This approach differs from Proof of Stake in that submitted BTC cannot be lost through a slashing mechanism. CEO Muneeb Ali estimates that $10k worth of STX will be required to participate as a staker.

February 6, 2020

Sources:

CoinDesk

Law firm behind Blockstack and Props' Regulation A token offerings offers commentary on the process.

Regulation A is a securities registration exemption that allows firms to raise up to $50m per year, includes non-accredited investors, does not create restrictions on resale, and preempts state registration and qualification of the offering. Issuing firms are required to file regular financial statements with the SEC, and cannot concurrently distribute and receive tokens. Following approval from the SEC, Blockstack and Props completed successful offerings earlier this year. Reg A offerings may be particularly appropriate when the entity aims to distribute tokens to a very broad user base in an ongoing manner.

October 19, 2019

Sources:

more

Blockstack has raised $23M in an SEC-approved token sale.

The company sold $15.5M and $7.6M worth of tokens to U.S. and Asian investors, respectively, at a general offering price of $0.30. Stacks tokens purchased during the sale will be released in equal amounts each month over a two year period. Blockstack previously held a token sale in 2017, during which tokens were sold at a general offering price of $0.12; tokens sold during the 2017 sale are to be distributed in the same manner, with the exception of 50 million tokens subject to a four-year time lock.

September 11, 2019

Sources:

CoinDesk
Load More