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Blockstack Token — Blockstack is a new internet for decentralized apps
Blockstack Token is a utility token for the Blockstack network. It enables users to access decentralized apps on the Blockstack ecosystem.
The Blockstack Token introduces incentive mechanisms, decentralized governance, and new features like support for truly independent mobile clients. The token will be launched in a new genesis block.
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An important effort from some of the smartest entrepreneurs on the planet — good luck yall, go Blockstack go
Intrigued enough to learn more and participate in this.
Pros:I love the goal of a secure decentralised system.
Cons:Still a bit too "technical" for me.
Great potential. Excited about the whole concept. Looking forward to see some groundbreaking products on the platform.
@kkrupareliya We're already seeing some really interesting apps! Our $25M Signature Fund for app developers is one funnel from where developers are reaching out and getting started: https://blockstack.org/funding
Congrats, guys. I know you've been working on this field for 6 years, Muneeb, so really pumped for you and Ryan.
@marcbhargava Thanks, Marc. Excited to have you and Kal as one of the early backers of the project!
I dreamed of this. It’s finally happening. Super excited to see the BlockStack soaring. How can anybody not feel like getting involved? Nothing but love and the very best of luck for this project.
Excited to see this on PH! Super interesting project, and the token whitepaper was a good read; I'm working on a post about it that I'd love to run by you guys.
One thing that didn't get elaborated on much in the paper but that I've been thinking about - what do you expect users to SPEND Stacks on? I would assume namespaces and possibly storage; anything else? Will Stacks be used in Blockstack ecosystem apps, or will they be usable when interacting with the layer 2 chain only?
@nneuman Thank you! Good question. You spend stacks on registering IDs (buying domains like muneeb.id for your IDs) and developers spend them on registering apps. That's like having an app store without Apple or Google! The stacks that are used to "pay" for these transactions are destroyed because we can't have some centralized party that takes all the stacks.
@nneuman Domain names, usernames and namespaces! Every Blockchain ID (user identity) needs a username and every application needs a domain name. And you can create new namespaces for very specific use-cases, like software licensing, ID'ing physical devices, etc. Stacks will also be able to be used for payments in applications, but that will not be required.
Psyched to see and contribute to this differentiated ‘thinking from first principles’ type of undertaking. Massive kudos to Muneeb, Ryan, the core team and early backers for their vision esp for the co-founders’ courage to do things the right way even if it is the harder way and despite the odds.
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