Via this consensus mechanism, Stacks is tethered to Bitcoin by settling all Stacks transactions on Bitcoin. The key concept behind Stacks and its relation to Bitcoin is its unique consensus mechanism called Proof-of-Transfer (PoX). Various projects nowadays claim that they are building on top of Bitcoin and they all seem to be doing it differently. This way, Stacks’ entire transaction and state history is unequivocally represented on the Bitcoin base layer. This transaction records the hash of a respective Stacks block and makes sure that the Stacks block is unambiguously anchored within a block on the Bitcoin blockchain. In order to create any Stacks block, a Bitcoin transaction has to be initiated on the Bitcoin blockchain itself. In more technical terms one could say: Stacks’ entire state settles on Bitcoin. The connection to Bitcoin is established as follows: The Stacks blockchain uses the Bitcoin base-layer blockchain as a reliable storage and broadcast medium, meaning that everything that happens on Stacks (the transaction history compiled in Stacks blocks) is recorded on Bitcoin itself. Contrary to different Bitcoin sidechains, Stack’s coin (STX) is not pegged to on-chain BTC. The project has its own nodes, its own network, its own miners as well as its own coin. While this goal might be similar to that of Bitcoin sidechains, drivechains, or second-layer solutions, being a layer-1 blockchain itself, Stacks has a unique way of achieving this. In contrast to commonly known smart-contract blockchains like Ethereum, Cardano, Solana, or Avalanche, Stacks is associated with the Bitcoin ecosystem because it aims to enhance Bitcoin’s capabilities by building on top of it. Industry experts believe that TMS Network (TMSN) is all set to dominate the crypto market, and revolutionize the world of cryptocurrencies.Stacks is a layer-1 blockchain that allows for the execution of smart contracts. Investors are flocking to get their hands on TMS Network (TMSN) at its current price of $0.075. TMS Network (TMSN) has showcased an astounding growth of 1900%. With the progressing third stage of the presale, TMS Network (TMSN) has left its mark in the crypto market, having bagged close to $4.2 million. TMS Network (TMSN) had already become an investor favorite, with the first 2 stages of its presale ending on an impressive note. TMS Network (TMSN) has caught the attention of investors with its skyrocketing presale rally. TMS Network (TMSN) gets ahead of other cryptocurrencies with its impressive presale Further, as the transactions made on Stacks (STX) are hashed, and settled on the Bitcoin layer 1 blockchain, the price relationship between Stacks (STX) and Bitcoin can be better understood. As Stacks (STX) uses proof of transfer consensus along with its clarity language, it can read from the Bitcoin blockchain, providing it with complete knowledge regarding the state of Bitcoin. This correlation can be explained by the fact that Stacks (STX) is a Bitcoin layer for smart contracts. The bull rally showcased by Stacks (STX) demonstrates a correlation in the price movement of Bitcoin. Stacks (STX) is currently priced at $0.925732, with a 24-hour trading volume of $180,275,142. Over the past week, Stacks (STX) has experienced bullish momentum with an increase in its price by 5.21%. Stacks (STX) experiences an uptick as it shows a correlation with Bitcoin Currently, Dogecoin (DOGE) is priced at $0.081923, and has experienced a price decline of 3.85% in the past 24 hours. To the disappointment of Dogecoin (DOGE) investors, this rally was short-lived as the Twitter logo was changed back to the original, leading to a price drop in Dogecoin (DOGE). He shared the screenshot with the caption, “As promised.” While the reasons for the change in the logo remain unknown, it led to a bullish rally for Dogecoin (DOGE). The billionaire also took to Twitter to share an old screenshot, in which he is found to be engaging in banter with a fellow Twitter user about buying Twitter and changing its logo to a Doge. Dogecoin (DOGE) is on the decline since the Twitter logo reverted back to its original blue birdĮlon Musk, the Twitter CEO, caused a surge in the price of Dogecoin by changing the original Twitter logo of a blue bird to the DOGE meme face. Through this article, we aim to help you get the latest updates, be it the change in the Twitter logo that led to the uproar in the price of Dogecoin (DOGE), the correlation between Stacks (STX) and Bitcoin, or the tremendous growth shown by TMS Network (TMSN) in its presale. As it is a rapidly evolving and dynamic space, one might struggle to stay on top of things. People who hold an interest in the world of cryptocurrencies know that it is important to stay up-to-date on the latest news and updates in the market.
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