Stacks (STX) Price Skyrockets by 43% as \'Code for Stacks\' Hackathon Brings More Developers to Bitcoin Layer

Stacks, the Bitcoin Layer for smart contracts, has succeeded in bringing more developers to the Bitcoin ecosystem.

Stacks, the Bitcoin Layer for smart contracts, has brought more developers to the Bitcoin ecosystem. Following the introduction of "Code for Stacks" by the Stacks Foundation, developers are sharing their code improvements and earning the STX token, which is up by over 11% at the time of writing. Each month, an eligible developer can win the 2500 STX jackpot. 75 other developers are getting 100 STX for participating, despite the STX price dip after June 6.

STX price outlook

Stacks is the 31st crypto by market cap. The STX price is up by over 11% today and an impressive 43% over the past week. According to CMC data, the STX price established support at $1.50 and is set to cross $2.78, the next target. A recent STX price rally helped achieve substantial profit growth. The majority of oscillators and moving averages currently indicate a "buy."

About Stacks and "Code for Stacks"

Stacks enables smart contracts and dApps to settle transactions on the Bitcoin blockchain. Stacks can read from Bitcoin at all times thanks to its Proof of Transfer consensus mechanism and Clarity language.

All Stacks transactions are automatically hashed and settled on the Bitcoin blockchain. Bitcoin hashpower secures all Stacks blocks. A malicious agent would need to reorganize Bitcoin to reorder Stacks blocks and transactions.

How to become eligible for "Code for Stacks"

Stacks is looking for a "meaningful" project that meets one or more of the following criteria:

Fix a bug

Add a new Clarity contract with meaningful functionality

Optimize a contract function

Add a new UI element or page

Add a test suite

Enhance the security of your contract

Meaningful UI enhancement

Refactor that enhances performance or functionality

The code must be publicly accessible via GitHub and open source. Examples of valid projects are projects containing a new set of Clarity functions for depositing liquidity into a protocol, a UI to connect to those functions, a set of Clarinet tests to test that functionality, or an interface improving user experience.

Invalid projects would involve:

Adding a single read-only function for pulling variable data.

Basic styling changes (colors, fonts).

Reformatting code style.

Adding a single button to call a contract function.

The Stacks Foundation is rewarding the best projects and the STX price is correspondingly affected.

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