STX joins Flipside’s Data Cooperative to Boost Token Transparency

STX joins Flipside's Data Cooperative to Boost Token Transparency

Blockstack is an open-source network that aims at building a user-friendly network for smart contracts and decentralized apps. In its motto to make the network accessible to everyone and to explore more token flows, STX has entered a strategic partnership with Flipside Data Cooperative. Flipside Data Cooperative is a Flipside Crypto initiative formed to provide a real-time public view of a network’s on-chain activity.

Blockstack aims at creating a new decentralized network where users will have the privilege to own their data and run the apps locally, and for this, a robust browser portal was all that was needed. Partnering with the Flipside Data Cooperative provides that robust platform to Blockstack that will help to improve its token transparency.

Blockstack made its first public offering of the SEC-qualified Reg A+ token in the year 2019. Since then, the network was trying to create a secure smart contract language with Clarity, and this collaboration with Flipside will make this vision transform into reality.

Flipside Data Cooperative helps to monitor the token flows easily, thereby providing more transparency around all network transactions. Along with STX holders, everyone can monitor token flows, or tokens are moving in and out of the exchange. STX holders can now also have full access to transparent network activity. Without this partnership, it was not easy for the existing community members to witness any token ownership flows, transaction activities, or even token benchmarks. 

Staking STX tokens is completely risk-free, and therefore, holders are always interested in investing in the Blockstack platform. This collaboration with Flipside Data Cooperative is expected to add more value to the STX tokens. More than 1,00,000 STX holders can now have access to the open-chain network.

Blockstack has also expressed the company’s interest in working with Flipside in the years to come, and they are all set to launch the second version of the smart contracts program with Stacks 2.0. This partnership will help the STX holders to take part in the Testnet and will have access to a transparent STX chain data from the very beginning of the Stacks 2.0 launch.

The Flipside community will also be able to track benchmarks to its peers in the ecosystem. The Flipside Data Cooperative benchmarking now includes Flipside Data score over time and records daily trade volumes, unique addresses, and transactions.