The Blockstack Ecosystem has a mission to bring a new internet where users control the access to, and use of, their own identity and data. With this mission in mind, three independent entities were formed:
These three affiliated entities drive the advancement of the Blockstack mission. In this section, you learn about the mechanisms each entity uses to advance the overall mission.
Blockstack Public Benefit Corp (PBC)
Blockstack Public Benefit Corp. (PBC) started development of the Blockstack platform in 2014 and launched an alpha of the platform in early 2017. The platform’s development philosophy followed two simple principles. First, create backend facilities that allow blockchain applications to be both performant and scalable. Second, provide simple, familiar development interfaces to blockchain technology. The result of this effort is a technology platform that allows developers to:
Access the Blockstack’s Naming System (BNS). The system has over 70K users that can immediately start using your application.
Scale quickly to large, performant production systems. Blockstack’s GAIA storage system gives fast, scalable performance on a level comparable to Amazon S3, Google Drive, or Azure.
Using Blockstack’s technology developers can start building immediately on the blockchain with the knowledge you have today. You won’t need to spend time or effort developing expertise in specialized languages or technologies.
Blockstack Signature Fund
In 2017 Blockstack announced the Blockstack Signature Fund. The Signature Fund is aimed at growing an ecosystem of decentralized applications on Blockstack. The fund releases funds through a Signature Bounty program. This is a global bounty program using a contest model. Teams from all over the world submit products and a set of judges determine who wins the prize for the best product.
In addition to the bounty program, Blockstack supports an application mining program. This is an early stage program for developers. In this program, application developers register their application on App.co. Then, each month, application developers get paid depending on their application quality ranking. The ranking is determined by a set of application reviewers.
Application mining differs from the venture model or the app studio model because the rewards are in cryptocurrency. Blockstack PBC administrates both the review and delivery of these monthly payments.
Blockstack Token LLC
Through the 2017 Blockstack token offering, Blockstack Token LLC created the Stacks token. This year’s hard fork is an especially exciting milestone for the ecosystem because it distributes the first Stacks tokens to existing purchasers and recipients. This hard fork launches the Stacks blockchain v1, and enables the following two features for the Blockstack network:
Registration of all digital assets and smart contracts for registering digital assets with the Stacks token.
A genesis block that distributes Stacks tokens to existing purchasers.
A full technical description of the upgrade is available on the Blockstack forum.
In future upgrades and hard forks, the blockchain will expand to introduce a new scalable consensus algorithm to increase the number of transactions it can process. This consensus algorithm is planned to be introduced in additional hard forks in 2019.
Addtionally, a future Stacks blockchain will support truly decentralized mobile applications by removing the need to trust a remote Blockstack Core node. Instead, it will be possible for light clients to calculate the economic weight of different Stacks blockchain forks, and identify the fork with the most economic activity. Today, light clients rely on other trusted sources for fork selection and cannot make that decision independently. For mobile apps this enables functionality like looking up names without having to rely on a remote Blockstack Core node.
Finally, Blockstack currently supports relatively simple smart contracts that are used to register digital assets on the network. The Stacks blockchain v2 will support general-purpose smart contracts written in a non-Turing-complete language currently under development.
This webpage contains forward-looking statements, including statements regarding Blockstack PBC’s plans for the Blockstack Core and blockchain. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially, and reported results should not be considered as an indication of future performance. Potential risks and uncertainties that could change our actual results include, but are not limited to, risks associated with: the failure of Blockstack to successfully implement proof-of-burn mining; the failure of Blockstack to successfully launch the genesis block; technical obstacles in further developing the Stacks blockchain and potential failure of its underlying technology; the failure of App Mining Program to successfully incentivize the development of applications for the Blockstack network; risks associated with potential attacks on the Stacks blockchain, its mining mechanisms and the App Reviewers; technical difficulties in the transition from a centralized to a decentralized administration of the App Mining program; and the ability of Blockstack to develop the Blockstack Core. These forward-looking statements speak only as of the date hereof. Blockstack PBC disclaims any obligation to update these forward-looking statements.