Viewing profile — muneeb

I'd argue the inverse. It's easier to build more complex things on top of simpler primitives than vice versa. So a simpler base layer (say TCP/IP for the internet) opens the doors …

Ethereum 2 is very different. It is proof of stake (PoS). This reuses the proof of work of Bitcoin (so very different properties for how hard it is to change blockchain history). A…

What you are describing is similar to what Stacks 1.0 was i.e., directly on top of the Bitcoin chain -- a virtualchain. Every Stacks 1.0 transaction was a Bitcoin transaction. The …

The design can be thought of similar to a side chain but it's not really a side chain. It uses a new type of consensus, called Proof of Transfer (PoX). Stacks miners have visibilit…

Muneeb here, Stacks co-founder. So it does not use Bitcoin as oracle. It uses Bitcoin as a settlement layer. (Oracles like Chainlink can be, and are being, built using Clarity lang…

Good question! Bitcoin has limited scripting language (Bitcoin script) for security reasons. Having a general smart contract language could open up a larger attack surface area for…

The Clarity smart contracts have direct visibility into Bitcoin state and developers can write logic around it. I do not think the headline implies you are changing Bitcoin to do t…

99% of Bitcoin remains passively outside of smart contracts. Only about 5B on Ethereum. This can be a fairly large market and we're in early days. More use cases don't need to take…

We received some push back for Stacks 1.0 as well! And for similar reasons i.e., you don't want to put a lot of additional data into the Bitcoin blockchain (makes it much harder to…

The smart contracts part comes with Clarity lang: https://clarity-lang.org/ Clarity contracts have direct visibility into Bitcoin state and can write logic against that.

Muneeb here, Stacks co-founder. Great question. You are right that Clarity smart contracts have direct visibility into Bitcoin, so you can write a contract that has logic triggered…

Can decentralized (i.e., user owned) storage help here? Instead of keeping data only at user device, it can be backed up in an encrypted and private way. Gaia is one example: https…

See reply above. Thanks,

The pay outs are in Stacks (STX) tokens. Only the pilot phase was in USD/BTC which came from a developer growth/marketing budget that Blockstack PBC funded. See this post for detai…

The point is global coordination without going through a big company like Facebook. Take the Dmails app for example, you can email me there on muneeb.id -- this will not be possibl…

Muneeb from Blockstack here. The Stacks blockchain is needed to anchor user identities in a system that is not controlled by any single company. The App Mining rewards are incentiv…