What is STK:The instant Cryptocurrency payments

The biggest problem that people have with cryptocurrency is that they don’t think that there’s anything backing most coins.

And when you can’t really use coins to make everyday purchases, it can be hard to see what the value of them truly is.

But what if something could change all of that?

STACK allows you to use crypto for contactless payments that are completed instantly at the point of sale.

The STK token is the coin behind the technology that makes it all possible.

Does that mean it’s the next 50x coin?

To find out, we’re going to talk about STK’s potential and whether or not it’s undervalued. Let’s dive into the dirty details of what the STK token is first.

What is The STK Token?

Most transactions when shopping or banking go through several different payment rails.

For example, credit card companies enable banks to transmit money to one another securely and quickly.

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But one of the biggest issues with cryptocurrency is that it can’t really be used to complete purchases in the same way.

The STK token is an ERC20 token on the Ethereum blockchain created to allow users to do just that.

With STK, you can use cryptocurrency to pay for things using your phone, just like Apple pay.

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There is a huge lack of merchant acceptance of cryptocurrency. But with the STK token, you can pay with your cryptocurrency wallet at over 39 million merchants in 200 countries.

This is all made possible thanks to the STACK wallet, which can be used to send money or pay for goods and services.

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STACK is a universally accessible personal finance platform designed as an alternative to traditional banking.

The team behind STACK believes that using your own money should be free.

On the platform, you can store nearly every kind of currency, access it, and transact with it from anywhere right from your smartphone.

The STK token allows for users to complete instant cryptocurrency payments, making it easy to integrate crypto into your everyday life.

In December of 2017, the STK token generation event was completed, and the hard cap of $17 million was reached.

In January of 2018, tokens from the event were distributed.

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By November of 2018, the U.S. beta launch of the platform will take place, making STACK the first crypto pay service in North America.

STK is also a part of the Enterprise Ethereum Alliance (EEA) – the world’s biggest open source blockchain initiative.

By integrating STK tokens into the STACK digital wallet, users will be able to use any currency for any point of sale from any location.

And payments will be completed in real-time. Rather than writing each payment transaction to the blockchain, STACK creates State Channels between the platform and the customer.

Channels guarantee real-time transactions. Once completed, transactions will be funded via STK’s liquidity pool so that they are completed instantly.

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This functionality can only be used by STK token holders, which is used to pay for the operating cost of setting up and maintaining the State Channel.

Each STACK account user will also receive a STACK card. This is a prepaid card that accompanies the STACK wallet  but isn’t required to make a purchase.

Since STK token prices change regularly, the price per transaction is calculated in the same way gasoline prices are calculated and determined.

Here’s a breakdown of the use of STK funds from the token generation event:

  • 55% of tokens were sold to the public as part of the STK token sale.
  • 20% of tokens are held in a reserve by STK Global Payments in order to fund future costs and expand liquidity.
  • 10% of funds were distributed to founders and the STK team.
  • 5% of funds were given to advisors.
  • 5% of funds were allocated toward costs of token sale.

At the time of the event, 275 million tokens were available for sale out of a 500 million total supply.

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STK’s use of funds is as follows:

  • 55% – Marketing and customer acquisition
  • 20% – Solution development (Development of Crypto to Fiat exchange platform, creation of iOS app and Android app)
  • 20% – Operational costs
  • 5% – Legal costs

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Any unsold tokens from the token generation event would have been burned. However, all available tokens were sold.

Remaining tokens are reserved for the liquidity pool, referrals, and bounty programs.

Now that you know what STACK and STK tokens are, you might be wondering if the tokens have the potential to be a good money maker.

Why STK Has Huge Potential

Although the possibilities of cryptocurrency are endless, it hasn’t been accepted as a personal finance tool.

Once cryptocurrency finds a home as a part of everyday commerce, it will be adopted by the mass market and become even more valuable.

At the end of 2017, consumer spending hit $13.6 trillion, which attributes to 69% of the U.S. economy.

And cryptocurrencies make up a huge chunk of the world’s money. All cryptocurrencies are worth at least $100 billion.

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National or local currencies are used to pay for everything from a daily Starbucks run to major purchases.

But what if you could pay for your cup of joe with Bitcoin or Ethereum? How much would the value of crypto increase? Probably a lot.

STACK isn’t developing it’s platform on their own, either. They have a huge network of well-known partners, including leading investment and blockchain technology experts.

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State Channels help to make off-chain transactions just as secure as on-chain purchases, which is huge.

State Channels let STACK conduct blockchain interactions like they’re on-chain, but only two or more users exchange information with one another.

This makes the speed of transactions so high.

Once a user purchases something, they send STK tokens to STACK in exchange for the platform using their liquidity pool to make a fiat purchase.

This is not only effective and more secure than traditional purchase methods, but it’s also more cost-effective.

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So how does this all work, you may ask? It’s a five-step process.

1. Creating a State Channel: The user loads STK tokens into the STACK mobile wallet, which authorizes the creation of a State Channel with the platform.

The user’s device and STACK both receive a copy of the current state of the channel. The creation of this channel is made possible with an on-chain operation.

2. Conducting Transactions and State Changes: Once a user begins a point of sale transaction on STACK, they’ll be able to view a visual showing the value of the transaction.

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A mobile tap-to-pay functionality is built into the STACK app, even in its BETA form.

The equivalent amount of crypto will be sent to the STK platform, which will almost immediately receive the signed transaction.

Then, the platform counter-signs and stores a copy off-chain and authorizes its local currency account to pay the purchase through the global payment network rails.

Since this happens off-chain, there’s no delay.

3. Keeping Funds Ready: As long as the State Channel is open, there won’t be any fees for conducting transactions between STK and the user.

There is also no fee to keep the channel open.

4. Withdrawing Funds: If the user wants to withdraw a portion of (or all of) their STK token in the channel that hasn’t been sent to STK, they can simply sign and publish a withdrawal request.

This requires an on-chain operation.

5. Closing: To close a State Channel, one party must sign and publish a close request to it.

Once this is completed, either party can submit their most recent transactions, which will decide the final state of the channel.

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This sophisticated technology has the potential boost the value of cryptocurrency by a landslide. But it’s currently undervalued, which could be good news for those looking to buy.

Why STK is Undervalued

Right now, STK tokens are worth approximately $0.044935 each. That’s dangerously cheap.

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Unlike other cryptocurrency payment services, STACK also provides alternative financial services in local currencies.

Only STACK offers a global payment rail, a mobile tap-to-pay feature, and millions of partnered merchants worldwide.

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So why is it so cheap to buy STK in comparison to most other cryptocurrencies?

For starters, it’s only listed on a few exchanges. So it isn’t as readily available as some other coins.

STK is currently listed on Huobi, KuCoin, and Cobinhood.

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The platform also seems to have a pretty small community following. The STK Token reddit page only has about 1,065 readers.

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And STK’s Telegram page only has 7,666 members.

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Other altcoins have a much larger following. For example, Ripple (XRP) has more than 61,000 Telegram members.

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As STK picks up more recognition and the STACK app is released in the US, prices are bound to increase. Now is the time to invest in STK if you’re interested in this coin.

TL;DR

Some people don’t see the point in crypto if it can’t be used for everyday purchases.

But that is going to change with STACK wallet and the STK token. The STK token allows for STACK users to make contactless, instant transactions.

If everyone could use digital coins for making daily transactions, more people would buy in. When more people buy in, the value of current coin holders will skyrocket.

The STACK wallet has promise to become the crypto version of Apple Pay.

The folks at STACK have partnered with huge blockchain and investment companies to develop their software, so it’s sure to be high quality and secure.

The STK token is currently undervalued due to low publicity and lack of presence across large exchanges.

That means that it’s a great time to buy STK tokens, whether you want to invest for long-term holding or flip them.

But you’ll have to do your own research. Do you think that the STK token is something that should be on every trader’s radar?

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