Stacks tokens are the native cryptocurrency of the Stacks blockchain. They are used to power all applications on the Stacks ecosystem and fuel smart contract execution.
STX is also the staking currency of the Stacks network, used to secure the network and earn rewards.
The Stacks token (STX) is a utility token that gives holders voting power over the future of the Stacks network and provides them with access to a variety of services built on top of it. The total supply of STX is 10 billion, with 5% of that released each year for mining and 5% held in reserve by Blockstack PBC, the organization responsible for developing and maintaining the Stacks blockchain.
STX was designed to give holders a direct say in how the Stacks ecosystem develops. Through a process called “Stacktivism”, token holders can vote on key decisions that determine the future of the network.
NOTE: Warning: It is important to note that “Stacks” is not an Ethereum token. The Stacks blockchain is a separate blockchain from Ethereum. Users should be aware of this fact before investing in any tokens or digital assets related to the Stacks blockchain. Investing in tokens or digital assets related to the Stacks blockchain may be highly risky and could result in significant losses.
For example, they can vote on which applications should be built on top of Stacks, or what changes should be made to the protocol.
The other major use case for STX is as a currency for paying transaction fees on the Stacks blockchain. All transactions on the Stacks blockchain require a small amount of STX to be spent in order to execute.
This “gas” fee goes to the miners who validate and confirm blocks on the chain.
So, in conclusion – Yes, Stacks is an Ethereum Token.
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