11/18/2023 0 Comments Stacks crypto![]() ![]() This allowed the team to receive another $6.8 million in investment. And only in January 2020, an independent commission confirmed the achievement of the second key milestone – a millionth user registered in the Stacks 1.0 network. The first step was the launch of the Stacks 1.0 main network and crypto wallet in October 2018 – the team gained access to $25 million. However, the project's ICO was designed in such a way that 80% of the funding was blocked until the project reached certain development milestones. In November 2017, Blockstack held the first STX token sale (ICO), which raised $47.5 million from 800 accredited investors. The team started developing the Stacks 1.0 blockchain platform. In November 2014, the Blockstack team held a seed funding round, during which they managed to raise $1.3 million in investments. This idea was implemented in the blockchain platform designed to run smart contracts and decentralized applications. Such applications cannot store or modify user data or transfer it to third parties. This way, applications will only be able to access the data they need to function. Involved in the development of the Blockstack project, it subsequently released the Stacks platform.ĭevelopers sought to create a protocol for a decentralized parallel Internet, functioning independently of the main one Instead of storing all the necessary information on the servers of different applications (for example, using Google to store emails, and WhatsApp for messages), they suggested storing data locally, that is, on the user’s device. ![]() In 2013, two crypto enthusiasts founded the non-profit organization Blockstack PBC in New York.
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