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Crypto News

Blockstack joins forces with Staked to enable STX holders to earn Bitcoin

Nicholas Say
Nicholas Say

Decentralized computer networking platform and biological systems application Blockstack and infrastructure services provider Staked announced they have entered into a strategic partnership to enable STX holders to earn Bitcoin for stacking STX. The Blockstacks-Staked partnership will make it simple for STX holders to earn BTC, which demonstrates Staked’s work to innovate in the staking marketplace. The new Proof-of-Transfer (PoX) algorithm from Stacks enables STX token holders to fulfill a complex minimum obligation to obtain BTC for assisting in securing the Stacks network. The Blockstack stacking approach provides new earning opportunities to BTC as a multi-asset model.

Blockstack PBC Co-Founder, Muneeb Ali, showed his thoughts on the collaboration,

Anchored by the time-tested security of Bitcoin, Stacks brings apps and smart contracts to Bitcoin and enables users to earn the most valued crypto asset, bitcoin. Several STX holders, especially institutional players, will likely participate in consensus through service providers; Staked was a clear choice as a launch partner with their reputation as a leading staking provider with the most available tokens and long track record of success.”

Stacked's CEO, Tim Ogilvie, believes this partnership will allow Stacked to provide “a new crypto asset earning model,” a dynamic and groundbreaking model in which “customers can earn bitcoin.”