“Stacks is a Decentralized Blockchain Project for the powering Bitcoin Innovation. Stacks is NOT a company.”
Introduction:
There is a world of misconceptions surrounding the Stacks ecosystem, often misunderstood as a company or a centralized project. In this article, my aim is to provide newcomers with a comprehensive understanding of the decentralized structure of the Stacks ecosystem. By delving deeper into Stacks, I aim to clarify any confusion and offer insights into this exciting blockchain project.
Understanding Stacks: A Decentralized Blockchain Project
At its core, Stacks is an open-source blockchain project that enables developers to build applications on the blockchain. But it goes beyond that — Stacks serves as a Bitcoin Layer for fully expressive smart contracts, allowing smart contracts and decentralized applications (dapps) to utilize Bitcoin as an asset and settle transactions on the Bitcoin blockchain. In essence, Stacks acts as a programming layer for Bitcoin. It uses a unique consensus mechanism called Proof of Transfer (PoX) which enables Stacks blockchain to leverage the security of the Bitcoin network while still enabling developers to build smart contracts and dapps with native Bitcoin functionality.
Dispelling the Misconception: Stacks is NOT a Company
One of the key reasons why Stacks is not a company is its decentralized management structure. There is no centralized entity called “Stacks.” Unlike traditional companies with boards of directors and executives making decisions, Stacks operates as a truly decentralized ecosystem.
As one of the Stacks community members put it:
The Journey of the Stacks Ecosystem
The project inception dates back to 2013 when Muneeb Ali and Ryan Shea co-founded a company called Onename, which focused on decentralized identity. The experience gained from Onename laid the foundations for the Stacks layer for Bitcoin. Muneeb completed his PhD in 2017, further contributing to the development of the Stacks ecosystem. Early visions of the project were presented in a TEDx talk.
Between 2018 and 2020, the team dedicated their efforts to building the Stacks infrastructure, which serves as a programming layer for Bitcoin. This infrastructure operates as a blockchain with cross-chain consensus in conjunction with Bitcoin. Additionally, they developed Clarity smart contract language, a secure programming language.
The Stacks project gained significant traction in 2019 with the first-ever SEC qualified token offering, allowing public participation, including individuals from the United States. The complete offering material provided comprehensive details about the project, company, and individuals involved, as highlighted in a WSJ article. Notable investors like Union Square Ventures, Harvard Endowment, and Winklevoss Capital demonstrated their confidence in the project.
In January 2021, the Stacks mainnet was launched, marking a significant milestone in its development. During this period, the branding transitioned to “Stacks” from “Blockstack” to differentiate the Stacks open-source project from any associated company.
Decentralized Governance: Shaping the Future of Stacks
Ensuring that no single entity exerts dominance over the direction of the Stacks ecosystem is a key principle of its governance model. Stacks network is governed by a decentralized community comprising various stakeholders, including smart contract developers, wallet developers, token holders, investors, exchanges, and app users. Together, they engage in open debates and participate in decision-making processes using the Stacks Improvement Proposal (SIP) governance framework to shape the network’s trajectory.
Similar to the Bitcoin network, where individuals and entities can submit Bitcoin Improvement Proposals (BIPs) for review and discussion, in the Stacks network, anyone is welcome to propose Stacks Improvement Proposals (SIPs) freely, which are then evaluated by the community. Through this inclusive approach suggested in SIP-000, operational and governance decisions in the Stacks ecosystem are not dictated by centralized entities or influential individuals. Instead, they emerge from collective decision-making within the community.
In addition, the core developers of the Stacks network are not solely affiliated with a single entity. Instead, they come from diverse entities within the ecosystem, each bringing their unique perspectives, expertise, and interests to the table. This multi-entity composition of core developers ensures a broad range of insights and ideas that contribute to the overall development and innovation of the Stacks network.
Permissionless Contributing to the Stacks Ecosystem
Participation in discussions about the direction of the Stacks network does not require permission from any specific entity. In other words, individuals are not bound by the approval of a particular entity to engage in the governance process. Being an employee of a specific entity is not a prerequisite for involvement in shaping the network’s future. This open and inclusive approach allows anyone interested in the Stacks ecosystem to contribute their perspectives and ideas, fostering a diverse and accessible governance process.
Reaching out in the Stacks Ecosystem
As a decentralized ecosystem, reaching out to relevant entities in the Stacks ecosystem can be challenging. It’s crucial to understand their mission and goals. Do thorough research to familiarize yourself with their background and initiatives. When contacting them, be clear, concise, and respectful in your communication, even if you disagree. Remember, the Stacks ecosystem thrives on diverse perspectives and collaboration.
Entities in the Stacks ecosystem
Here are just a few examples of other independent entities within the Stacks ecosystem, and there are many more:
- Stacks Foundation — a non-profit, neutral organization supporting awareness for and development of the Stacks ecosystem.
Website: https://stacks.org
Twitter: https://twitter.com/stacksorg
- Trust Machines — a team of engineers, builders, researchers, and operators banding together for one mission: growing the Bitcoin economy. Believe that by unlocking the true potential of Bitcoin layers, we can take Bitcoin to a billion users.
Website: https://trustmachines.co
Twitter: https://twitter.com/trustmachinesco
- Hiro Systems — a company for developers, built by developers. Enabling developers to innovate and put the future back in the people’s hands. with best-in-class tools and services.
Website: https://www.hiro.so
Twitter: https://twitter.com/hirosystems
- SecretKey Labs / Xverse Wallet — a software R&D lab that specializes in mobile applications and open source tools for web3 on Bitcoin
Website: https://www.secretkeylabs.com https://www.xverse.app
Twitter: https://twitter.com/secretkeylabs https://twitter.com/xverseapp
- Bitcoin Frontier Fund — Investing in outstanding teams building new use cases for Bitcoin.
Website: https://www.btcfrontier.fund
Twitter: https://twitter.com/btcfrontierfund
- Bitcoin Startup Lab — Bitcoin Startup Lab enables founders to transform into champions on your Web3 Bitcoin startup journey
Website: https://btcstartuplab.com
Twitter: https://twitter.com/btcstartuplab
- ALEXGO — next Gen Decentralized Applications on Bitcoin that Bring your Bitcoin to Life: launch new projects, earn interest, rewrite finance, reinvent culture.
Website: https://alexgo.io
Twitter: https://twitter.com/alexlabbtc
- Arkadiko — Arkadiko is a decentralized and transparent DAO. We believe in building in the open. All our code is licensed with GPLv3. Contribute to the future of finance on Stacks and Bitcoin.
Website: https://arkadiko.finance
Twitter: https://twitter.com/arkadikofinance
- Boom Wallet — The original Stacks NFT platform. Receive and Send STX and NFTs | Create NFTs | Custom Tokens
Website: https://boom.money
Twitter: https://twitter.com/boom_wallet
- Mechanism — designing and building distributed systems.
Website: https://www.mechanism.so
Twitter: https://twitter.com/mechanismhq
- New Internet Labs — building a new, user-owned internet built on bitcoin.
Website: https://www.newinternetlabs.com
Twitter: https://twitter.com/newinternetlabs
- StacksOnChain — a platform with comprehensive blockchain analytics services, offering in-depth insights, transactions, events, token transfers and much more. Our platform is designed to deliver real-time and custom reports based on real-time smart contract usage.
Website: https://stacksonchain.com
Twitter: https://twitter.com/anononchain
- Gamma.io — a Bitcoin NFT marketplace and creator launchpad.
Website: https://gamma.io
Twitter: https://twitter.com/trygamma
- TradePort — Multichain trading platform aggregating NFTs from all marketplaces across various blockchains.
Website: https://www.tradeport.xyz
Twitter: https://twitter.com/tradeportxyz
- Daemon Technologies — is driving the adoption of Stacks technology in Asia. Focusing on providing strategic consulting to projects in the Stacks ecosystem, mentoring and advising projects building on top of the Stacks Network, with a special focus on Asia.
Website: https://daemontechnologies.co
Twitter: https://twitter.com/stxdaemon
- NeoSwap — NeoSwap is an AI-powered economic engine that uses blockchain technology to offer users a personalized, efficient, and accessible trading experience.
Website: https://neoswap.ai
Twitter: https://twitter.com/NeoSwap_ai
Conclusion:
The Stacks ecosystem is not controlled by a single marketing or development department. It is a decentralized network of independent entities and individuals working together to shape the future of blockchain technology. By understanding the decentralized nature of Stacks, you can become an independent contributor to its growth and core development. Let’s empower each other through permissionless collaboration and embrace the opportunities presented by the Stacks ecosystem.
If you would like to contribute to the development of the Stacks ecosystem, one of the many ways to get involved is by joining a working group. You can find a list of working groups and participate in discussions on our GitHub page: https://github.com/stacks-network/stacks/discussions
Fun fact: I wrote this article independently, without seeking permission or affiliating with any marketing team in the ecosystem. My aim is to share knowledge and provide insights on the Stacks ecosystem, helping newcomers gain a deeper understanding.
You can do the same — contribute freely, no permission needed.
HeroGamer
If you need further help or clarification, you can find me on Twitter: https://twitter.com/herogamer21btc
or
find me in Stacks Discord server: https://discord.com/invite/b5xFc7bpnk my user name is: Hero Gamer ⚡#0001
FAQ
Question: What are the differences between Stacks the ‘project’ and ‘community’, and ‘Stacks the Foundation’?
Answer: Stacks Foundation is an entity, a non-profit; one voice amongst others. Stacks community is the people, many of these hold STX but that’s not a requirement to be active in community. Stacks project is the code, anyone can fork/copy this, create mirrors of code, or propose SIPs.
