What is Stacks Foundation?
Stacks is a layer built on Bitcoin that allows for the creation of smart contracts and decentralized applications (dApps). It enables functionalities such as Decentralized Finance (DeFi) and Non-Fungible Tokens (NFTs) on the Bitcoin network.
The Stacks layer uses a consensus mechanism called Proof of Transfer, which connects Stacks and Bitcoin, allowing applications to benefit from the security of Bitcoin. It also introduces a concept called ‘Stacking’, where users can hold and temporarily lock STX, Stacks’ native currency, to support the network’s security and consensus, and earn Bitcoin in return.
For developers, Stacks provides a platform to build powerful apps secured by Bitcoin. Transactions on the Stacks layer automatically settle on Bitcoin, enhancing the security of these applications.
The smart contracts on Stacks are powered by Clarity, a language designed to prevent bugs and exploits prevalent in smart contract programming. It is predictable, decidable, and secure.
The Stacks project aims to enable a better internet through decentralized apps by expanding the Bitcoin economy and enabling more functionality as a Bitcoin layer.
Stacks Foundation Grant Program
The Stacks Grants program is an initiative aimed at fueling the builders, doers, and leaders who are working towards a safer, more equitable, and more open internet powered by Bitcoin. The program funds infrastructure development, tools, research, education, and other initiatives that enable the growth of the Stacks Ecosystem.
In addition to the grants, the Stacks Foundation also runs a Residency Program. This program fuels subject matter experts to take on open-ended research, experimentation, and other long-term projects. The goal is to provide support for in-depth exploration and development within the Stacks ecosystem.
The Grants program is designed to support builders on a mission to activate the Bitcoin economy through broader adoption. The Stacks Foundation believes that Bitcoin and adjacent open-source technology ecosystems will become the foundation for a safer, more equitable, more open internet.
Application Process
Those interested in applying for a grant or becoming a resident can do so through the application forms provided on the website. The Stacks Foundation encourages innovative ideas and projects that align with their mission of building a user-owned internet on Bitcoin.