Stacks (formerly Onename and Blockstack) is a decentralized network that brings smart contracts and decentralized applications to Bitcoin. By utilizing a unique consensus mechanism, it enables secure and scalable Web3 functionality anchored directly to the Bitcoin blockchain.
In August 2014, the project secured a $120,000 Pre-Seed investment from Y Combinator as part of its Summer 2014 (S14) accelerator batch. This standard accelerator check was exchanged for 7% equity, establishing an early foundation for the founders before their subsequent multi-million dollar venture rounds.