Blockstack is a decentralized network that allows you to create dApps and maximize user data control. The creators of the platform position it as an alternative to traditional cloud computing. The project has already received about 100 thousand dollars of financing and has become one of the most successful and developing in 2019. We’ve aggregated several price predictions to find out the Blockstack project’s future.
Blockstack (STX) Fundamental Value
The idea of building a decentralized platform for creating various applications appeared long ago. Theoretical research began back in 2013, and Princeton University participated in the creation of the project.
Princeton University is indirectly linked to Blockstack. In 2014, under his leadership, work was ongoing on Oname, and later this project expanded to Blockstack. In the process of evolution, the scale has changed. If Onename was conceived as a tool for reducing the addresses of blockchain wallets, then Blockstack is an entire ecosystem with a set of services. Blockstack allows users:
Not to worry about storing information when creating databases. DApps developers can fully focus on working out the logic of their application. Network members themselves will provide a place to store information.
solve the problem of scaling. In a traditional client-server model, you have to increase the number of servers to scale. Using Blockstack will allow each network user to allocate part of the space for data storage and part of the processing power for the necessary calculations;
use smart contracts;
implement decentralized user authentication. It will be possible to abandon the traditional methods used in 2-factor authentication; instead, a cryptographic signature is used;
use STX tokens as domestic currency.
Blockstack consists of the following elements:
Stacks Blockchain is the blockchain. Initially, the Bitcoin blockchain was used. Now another one was created;
Gaia is essentially a gigantic file system, anyone can use it to store data. At the same time, the user himself encrypts his data and selects exactly where they will be stored – in the cloud, on local or remote media. Increased security is ensured by the fact that only hashes are available to applications, but the user can block access to them at any time;
Blockstack Authentication. While using the platform, the client receives a universal name that is common for all applications. You do not need to come up with a unique username and password for everyone, as it happens with regular applications. Blockstack Auth protocol provides user verification;
Blockstack Libraries and SDK is a set of tools for developers. The project depends on the community, so everyone can create their own applications.
In 2020, Blockstack developers introduced a new Proof-of-Transfer consensus mechanism. PoX can help solve the initial launch problem for new blockchains. Rewards for participating in a separate, potentially more stable, base cryptocurrency may be a better incentive to encourage initial participation than offering rewards in a new cryptocurrency.
Miners create blocks and earn STX tokens in exchange for their BTC – at the rate of 500 STX per block. This BTC will be distributed among the stakers who will keep a copy of the blockchain, and will also vote on which version of the chain the miners should get.
During ICO, Blockstack (STX) crypto coin price was 0.12 USD. Blockstack (STX) appeared in Binance trading list in October 2019. The exchange launched trading in pairs STX/BNB, STX/BTC and STX/USDT on 10/25/2019.
As you can see, the major price rise was not so long ago. The all-time maximum happened in February 2020, and the price was $0.258708. Now, the price of one coin is $0.079218.
Blockstack (STX) Technical Analysis
Well, there is not actually any technical analysis expertise of STX cryptocurrency. However, here is the aggregate rating for STX from several traders & analysts on TradingView.
Blockstack (STX) Price Prediction for 2020-2025
We found only two Blockstack price predictions based on computational algorithms. If you want to invest in the coin, we recommend you to make a whole technical investigation.
#1. Wallet Investor Blockstack Price Prediction for 2020-2025
According to Wallet Investor, STX is a bad long-term (1-year) investment. The price of Blockstack may drop from 0.0858 USD to 0.0115 USD. The change will be -86.599%. In 2022, the price of one coin may change up to $0.00273. By the beginning of 2025, STX coin price will reach $0.000079.
#2. Digital Coin Blockstack STX Price Forecast for 2020-2025
According to the source, Blockstack (STX) is a profitable investment and it can reach $0.162 in one year. In the next few years, the price of the coin will increase and go up to $0.3 in 2025.