over 2 years agoHey Stacks Hacker, Thanks for your interest in joining the #HackStacks Hackathon! This is a unique opportunity to build products and tools secured by Bitcoin through the Proof of Transfer (PoX) consensus mechanism. Best of all, your creations will support mining and stacking, functionality that enables all stakeholders to earn rewards on the Stacks 2.0 network. TL;DR on PoX, Mining & Stacking:
- PoX is a mechanism that uses the security of an established Proof of Work (PoW) blockchain to launch a new blockchain
- The new Stacks 2.0 blockchain will launch using the Bitcoin blockchain
- PoX will reward network participants Bitcoin for doing useful work like consensus participation
- Stacks 2.0 miners spend some Bitcoin in order to earn Stacks (STX) tokens
- Stacks 2.0 stackers earn Bitcoin rewards (from miners) for locking up their STX tokens and participating in PoX consensus
- For more technical details on PoX, mining, and stacking, go through the full whitepaper.
If you have any questions about the hackathon, please post on the discussion forum or reach out on discord if you have any questions: https://discord.gg/3STbsx7.