Product | 08/17/2023
Stacks (STX) Joins Ledger Live: Unlock Bitcoin Capabilities Securely
Things to know: |
– You can now create a Stacks (STX) account in Ledger Live Desktop and Mobile and send and receive your STX from this account, with your private keys securely stored in your Ledger device. – Stacks is a popular layer-2 layer that aims to enhance the Bitcoin blockchain by facilitating DApps and smart contracts on the Bitcoin protocol. – Everyone is welcome to build on Ledger Live, bring their coins and make them accessible to Ledger communities. You’ll find all the resources you need here if you’re a developer. |
Stacks (STX) is an open-source protocol that aims to unlock the potential of the Bitcoin blockchain by bringing smart contracts and DApps to the Bitcoin ecosystem. Stacks works with ‘Proof of Transfer,’ a consensus mechanism that spans both chains, enabling Stacks to leverage Bitcoin’s security and Stacks apps to use Bitcoin’s state.
According to the protocol’s website: “Stacks extends Bitcoin with new functionality. Bitcoin is Stacks’ secure and robust base layer where all transactions are settled, and Stacks adds complex apps and smart contracts.” While this goal might be similar to that of Bitcoin sidechains, drivechains, or second-layer solutions, Stacks has its own nodes, network, miners, and coins.
STX, Stacks’ native token, is the cryptocurrency of the Stacks network, used to fuel smart contracts for Bitcoin, reward miners on the open Stacks network, and enable holders to earn Bitcoin by stacking. Contrary to different Bitcoin sidechains, STX is not pegged to on-chain BTC.
Manage & secure your STX coins through your Ledger Live app
The Stacks app is already available on your Ledger hardware wallet, which means you can secure your STX coins with your hardware device. In addition, managing your STX tokens through Ledger Live is easy:
- Open your Ledger Live app.
- Navigate into the accounts tab in Ledger Live and create a Stacks account.
- Verify and confirm the address to deposit your tokens.
It’s as simple as that. Your STX coins are yours, tightly secured in your hardware wallet. Learn more on how to send and receive your STX tokens with our Help Center article.
Explore the Internet of Value securely with Ledger
Ledger Live, with over 1.5 million active users, allows you to buy, sell, swap, stake, and lend your digital assets and explore the Internet of Value with ownership and security. With the Ledger Live app, you can also access an ever-expanding list of dApps in the Discover section, with your private keys automatically safeguarded on your Ledger device.
If you don’t have a Ledger device yet, check this article out to see which Ledger device suits your needs, or view our comparison page for a side-by-side comparison. You can also stay updated on our latest announcements and thought leadership publications through our blog.