Why Blockstack(STX/USD) is Super undervalued ? Ready to Pump!!The project has backing from venture capitalist mainstays like Union Square Ventures, Digital Currency Group, and 20 others. It’s secured $75 million in funding to date... including $23 million via the first Regulation A+ token offering ever. (A Regulation A+ deal allows non-accredited investors to invest in private projects.)
The Blockstack network launched in November 2018. It started with 38 apps but has grown to over 500 since then.
Like Google and Apple, you can access your Blockstack apps through one username.
However, unlike Google and Apple, it doesn’t store your data. Instead, your data is stored on the blockchain and controlled by your private key. Your private key is an encrypted code that allows you to access your data on the blockchain.Only the person holding your private key can access your information.
As Blockstack adds more apps, we’ll see its ecosystem continue to grow. And since it’s an open- source network, any developer can build on it... That’s unlike Apple or Google, which charge developers exorbitant fees to build on their platforms.
Looking forward, we see two massive catalysts ready to propel Blockstack higher.
The first will happen within weeks. It’s called Blockstack 2.0. That’s when the PoX protocol goes live. When it launches, we’ll see STX holders lock up their tokens for staking.
Staking is when token holders can lock their crypto assets (i.e. their stake) to help secure a blockchain network. And in exchange, they earn rewards.
Staking crypto tokens locks them away and reduces market supply. And the introduction of staking is coming right before the second catalyst – STX’s countdown timer.
By October 31, 2021, Blockstack’s code will reduce the rate of inflation by 96%. It’s the mega catalyst we think will keep pushing prices higher. Combined with staking, we’re about to see a dramatic drop in the supply of STX coming to market.
