Layer 2 blockchain Stacks, whose goal is to enable smart contracts and decentralised applications on Bitcoin, now also released BTC-based Non-fungible Tokens (NTF) for the first time. They want to transfer the smart contract functionality to the BTC Blockchain without the need for a fork. Therefore, there is no need to change or adapt the Bitcoin network and all applications running on Bitcoin via STX can benefit from the security and stability of the Bitcoin Blockchain. The STX token of Stacks is at the centre of this and is used for the execution of smart contracts and the processing of transactions on Stacks. With the help of the Proof-of-Transfer (PoX) consensus mechanism, the Stacks Blockchain establishes a direct connection to the Bitcoin Blockchain. This enables every transaction executed on the Stacks Blockchain to be tracked and verified on the Bitcoin Blockchain.
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