Bitcoin secured Stacks NFTs
The Stacks blockchain is the first to offer a scalable approach to Bitcoin NFTs. The Stacks network allows for the creation of smart contracts using the Clarity programming language, dApps and DeFi apps, and provides an open-source API. The ecosystem is growing and NFTs are trending. Let's take a look at the reasons for the hype.
Non-fungible tokens (NFTs) are unique digital items that are issued on a blockchain such as Ethereum (ETH), Stacks (STX) or Solana (SOL). NFTs have unique traits and metadata, and have many use cases: they can represent artworks, grant ownership rights to a real-world asset such as a house, or provide utility in the metaverse, and more.
The Stacks ecosystem allows for the creation of Bitcoin-secured NFTs thanks to clarity, an interpreted language (which means the code is human-readable). By design, Clarity requires smart contracts to publish their source code on the blockchain giving users the ability to verify that code, and developers more tools with which to build and innovate.
Why Bitcoin NFTs on Stacks?
Every NFT on the Stacks blockchain is secured by Bitcoin. Bitcoin (BTC) is the most well-known blockchain, and biggest cryptocurrency. However, its smart contract use cases have been limited due to its scalability, speed and syntax limitations.
The Stacks blockchain aims to change this, by providing a blockchain technology that uses Bitcoin's high security while allowing the creation of smart contracts and increased functionality.
Stacks uses a consensus mechanism called Proof of Transfer (PoX). It relies on the Bitcoin blockchain, like a layer 2 would, but it is distinct from Bitcoin and is maintained by and for Stacks nodes. Stacks has its own rules and its transactions are separate from Bitcoin transactions. This is by design, as Stacks developers want to enable programmability of Bitcoin without changing Bitcoin itself. So, the Stacks blockchain leverages the Bitcoin network as a secure medium for storing and broadcasting, through its Proof of Transfer consensus mechanism. Stacks blocks are recorded on the Bitcoin base-layer blockchain, making them extremely secure.
Ordinal NFTs have brought more attention to the Stacks network, which is starting to get more recognition. This could lead to further adoption and gains in the STX token as well as the upcoming sBTC token, which will allow for a much faster chain that will still benefit from finality on the Bitcoin main layer. sBTC will be pegged to Bitcoin, like a stablecoin is pegged to a commodity.
What is the difference between Stacks NFTs and Ordinal NFTs?
In short, Ordinal inscriptions are Bitcoin-native NFTs. Data can be inscribed onto individual Satoshis (the smallest unit of Bitcoin), directly on the Bitcoin blockchain. Users can transact Ordinals NFTs like Stacks NFTs, but the data (whether it is an image, a text, a memo...) is completely immutable and stored directly on the Layer 1 Bitcoin blockchain.
Because Ordinals live directly on Bitcoin blocks, their size is limited. Stacks NFTs live on the Stacks blockchain and are secured by Bitcoin, but the data lives off-chain (on decentralized services such as IPFS) and can be updated if necessary, giving more flexibility to creators with their projects.
Where to buy Stacks NFTs
The most popular NFT platforms on Stacks are Gamma, the leading NFT marketplace on STX, Byzantion, Superfandom and Stacksart.
Gamma, formerly known as STXNFT, is an open NFT marketplace, a home for creators and collectors, a hub for the world's Web3 social identity. We specialize in collectibles and digital art.
The Gamma platform offers three core products, offering options for minting, selling, buying and auctioning NFT tokens. Gamma helps collectors discover incredible NFT collections and helps promote curated works from unique creators who share their story.
A user-first marketplace to find, explore, and collect extraordinary Bitcoin NFTs, the most trusted and decentralized blockchain technology for digital assets.
A creator-first launchpad for artists to deploy their own NFT collection with fully tested, creator-owned, no-code smart contracts in minutes. Creators can sell their art at a fixed price or auction it.
A social platform, bringing together creators and collectors in an engaging and Web3-native way.
The platform also facilitates the transfer of NFTs through blockchain name service domains (BNS) rather than long alphanumeric addresses, which can be traded on the BNS marketplace. Gamma's Discord Bots also help creators engage and connect with their communities.
Gamma offers the highest liquidity and user base on Stacks, making it the leading NFT marketplace in the Stacks ecosystem.
What if I don't have any crypto?
Before you can start buying Stacks NFTs, you'll need a digital wallet compatible with the Stacks blockchain as well as STX (the Stacks cryptocurrency). If you are interested in minting Ordinal inscriptions, you will need some BTC. STX and BTC can be purchased on cryptocurrency exchanges such as OkCoin, Binance and Coinbase.