From trustless token exchanges to Bitcoin price oracles, we’ve seen what you can achieve with the Clarity smart contract language. Now, it’s time to build with another key piece that makes the Stacks 2.0 blockchain so powerful: Proof of Transfer or PoX (whitepaper), a Bitcoin-secured consensus mechanism that links Stacks (STX) tokens to Bitcoin (BTC) and offers stakeholders opportunities to earn rewards in both cryptocurrencies.
#HackStacks is a virtual hackathon that gives developers their first shot at leveraging the power of PoX by building tools that make it easier and more profitable to participate in the Stacks 2.0 consensus mechanism. A foundational aspect of this is the new STX Mining and Stacking functions, which work together to link the network to Bitcoin and secure the blockchain. Mining on Stacks 2.0 allows miners to mint new Stacks (STX) tokens by simply forwarding (BTC) to the network, while Stacking enables “Stackers” to earn that BTC by locking up their STX tokens on the network.
#HackStacks begins on September 9th!
In essence, STX Mining and Stacking offer all stakeholders the opportunity to share in value creation on the Stacks 2.0 network. The #HackStacks event will support and reward developers for building tools and products that make STX Mining and Stacking more accessible to the Stacks community.
Formally, the two categories you can submit in are:
- Mining: Tools and products that make it easier to onboard Stacks 2.0 miners.
- Stacking: Tools and products that make it easier for anyone to participate in stacking.
What might you build?
Check out ideas submitted by community members themselves to kickstart your imagination:
- Directory where STX hodlers can self identify and interact with developers
- “Proof of Stacking” login/authentication
- Stacking “social network” where users can log in with Proof of Stacking and meet other STX hodlers
- “Autostacker” product that enables users to automatically mine and stack more STX by forwarding BTC earnings into mining
- Stacking wallet
- Kickstarter for Stacking products (Stackers request products from the dev community)
- A mining bot that automates much of the miner onboarding process
- Arbitrage bot
- Dynamic and interactive diagram that illustrates the PoX process
- User friendly web app that simplifies the miner onboarding process
- “Proof of Mining” login/authentication
See more ideas from the community here.
Overall, winning submissions will be judged based on how well they serve the Stacks community. In other words, building with community and business potential in mind is a must.
In terms of more specific criteria, submissions will receive a score from 1-5 on each of the following aspects and these scores will be combined for a final total score. (The highest total score will place 1st, the second-highest score will place 2nd, and so on.)
- User Experience: Is the product/tool accessible to a broad audience? In other words, could a user with minimal technical skills use and enjoy using it?
- Technical Functionality: How powerful or robust is the functionality that the product/tool provides? How much can users do with it?
- Real World Viability: How applicable is the tool to use in real-world situations? Is there potential to grow or build on top of it?
- Originality/Creativity: How unique or innovative is the product/tool?
- Documentation: Does the project come accompanied by comprehensive documentation or README? Is the code commented thoroughly so anyone could read through and discern its functionality?
Applications must integrate Blockstack authentication for login. Finished apps should be available for public use. Apps must use registered domain names and should be hosted at a URL belonging to the domain. The app website must also use a secured (https) connection.
As we’ve said before, we believe Web 3.0 will emerge on top of blockchains. PoX represents the most native and sound possible way to do this on Bitcoin, the world’s most secure foundation. We can’t wait to see how all your submissions end up leveraging this incredibly powerful new toolset to innovate.
- Community Utility & Business Potential: Sean Li, Patrick Stanley, Muneeb Ali
- Product Viability & User Experience: Mark Hendrickson
- Technical Functionality: Aaron Blankstein
- Proof of Transfer Whitepaper
- Realizing Web 3.0: Proof of Transfer Mining with Bitcoin
- User Staking & Business Model Innovation with Joel Monegro
- Stacking & Mining One-Pager
This communication contains forward-looking statements that are based on our beliefs and assumptions and on information currently available to us. In some cases, you can identify forward-looking statements by the following words: “will,” “expect,” “would,” “intend,” “believe,” or other comparable terminology. These statements involve risks, uncertainties, assumptions, and other factors that may cause actual results or performance to be materially different. We cannot assure you that the forward-looking statements will prove to be accurate. These forward-looking statements speak only as of the date hereof. We disclaim any obligation to update these forward-looking statements.