The Stacks Foundation oversees accelerator programs that aim to invest in start-up teams working on the Stacks network. This network was formerly known as block stack.
to the the report CoinDesk, this 3-month program will host 10 to 20 startups in each class. The maximum investment is 50,000. Trevor Owens, chief executive of the Stux accelerator, said that 80 percent of the profits would be used to invest in newer teams, with a small portion going back to the accelerator. About $ 4 million has been earmarked for the project.
Stacks seeks to establish itself as a home for smart contracts and decentralized applications secured by the Bitcoin blockchain. Publicly available data show that developers of smart contracts on Stacks are far fewer than giants like Ethereum and even the Bainance Smart Chain (BSC).
It is said that the accelerator and other efforts of the Stex ecosystem are aimed at contributing more to the development of smart contracts, but the purpose of this ecosystem is also different from Ethereum and the Bainance smart chain. “Jenny Mith, director of one of the Stacks Foundation’s programs, said:
This [برنامه] Is about innovation and scalability and expanding the use of bitcoin; The factor that sets us apart from the rest. I think another issue is focusing on building the business that the user owns.
Stack has selected prominent people as consultants for its accelerator plan. Initially, Meltem Demirors, senior strategist CoinShares, and Eric Ries, author of The Lean Startup, will collaborate on the project. Anthony Pompliano and Sergy Nazarov, co-founders of China, are among those who will work with Steks.
In another part of his speech, Owens said:
Our goal is to create a community to build successful companies on the China Stacks block.