Stay updated on Storecoin

The zero-fee public blockchain that transforms data into programmable money called datacoins.

Governed by decentralized democracy.

Our Token Partners

Token Details

Description: Zero-fee internet money

Project Type: Public blockchain, p2p currency, and platform for datacoins
Ticker: STORE
Token Type: Own Wallet (not an ERC20 or equivalent)
Treasury: 34% to be sold to the public, 46% to incentivize protocol growth (100 year fund), 10% for founding block rewards, 10% for long-term Treasury (1,000-year fund), Token Sale funds to last for 16 years
Benefits of owning STORE: Stake STORE to secure Storecoin and earn more STORE; once staked, vote in governance; spend STORE where the zero-fee cryptocurrency is accepted; build apps with STORE, secure and host the future Storecoin, zero-fee cloud computing platform where you can earn datacoins from the Layer 2 tokenized apps
Public ICO: No. Milestone-based sales only.
Sold to-date: 13.52%
Amount to be sold in the future: At least 20.5%

Storecoin is incentivized to be both a global store-of-value ($100+ Trillion market) and a programmable, zero-fee medium of exchange that can challenge VISA-like networks and beyond ($21+ Trillion market).

The Transaction Fee Problem

When accepting payments from credit and debit card networks like VISA, merchants and developers pay fees of 2.5%+ plus thirty cents for every transaction.

Annually, this results in $250+ Billion of fees paid to banks, VISA, more.

These $250+ Billion of fees make entirely new categories of trade and commerce impossible – especially innovation with zero-fee micropayments on the public internet, in web and mobile apps, and for machines/IoT.

Once fees are eliminated, entirely new categories of innovation can be unlocked.

Our Solution

Scalable, decentralized, and zero-fee payments infrastructure for the internet and beyond.

To achieve zero-fee on the Storecoin blockchain, inflation replaces transaction fees. Inflationary block rewards – up to 20 Million STORE or 2% of the genesis block token supply each year – secures zero-fee, p2p transactions. Transactions, payments, and more will forever be zero-fee for buyer and seller; for sender and receiver.

The Storecoin blockchain will be coordinated by a one-entity, one-vote decentralized and democratic governance of checks and balances that can be understood and trusted by miners, app developers, merchants, and the largest organizations in the world – all at the same time.

How Storecoin solves for both scalability and decentralization without sharding, off-chain transactions, level 2, etc.

At launch, we expect 5,000+ transactions per second and for throughput to increase as transaction demand increases.

Click to expand

Storecoin’s leader-free, BFT consensus algorithm BlockfinBFT, validates blocks in a pipelined process.

BlockfinBFT is a two-tier network of Validator nodes and Messagenodes, each with specific roles, assemble and validate blocks using a cryptographically secure process.

Storecoin is secured by Dynamic Proof of Stake (DyPoS), a new consensus protocol that blends a leaderless and high-throughput consensus algorithm with an equitable and security-dependent economic model.

In Storecoin, all nodes in consensus will receive a share of every block reward and no single node can earn more than 5% of the reward.

Our Latest

  • More than 65 individuals and teams participating in Storecoin Governance peer reviewLearn more
  • Can decentralization and governance co-exist on the blockchain. Storecoin says it can, and mustLearn more
  • First version of research for Storecoin's tokenized app platform and p2p compute engine is releasedLearn more
  • Storecoin Team articulates benefits of its BlockFin protocol: Proof of Stake with security comparable to Proof of WorkLearn more
  • Token Daily publishes Storecoin co-creator Chris McCoy's essay analyzing the growing emphasis on blockchain governanceLearn more
  • The project welcomes its first Community members, accepted through the Storecoin Proof of Community application. Members are wearing #STORE T-shirts in 56 countries.
  • Storecoin announces new marquee investorsRead the announcement
  • Storecoin co-creator Chris McCoy introduces the project to 1,200 high school students at the Washington State DECA conference, and soft-launches the Storecoin Brand Ambassador program.
  • Storecoin publishes marketing materials in four languages: Chinese, Japanese, Korean and RussianLearn more.
  • Storecoin introduces Charles Belle as the project's compliance director working on global banking relationships, MTLs in the U.S. and moreRead the announcement
  • Storecoin Expands Marketing Efforts in Russia, AsiaLearn More
  • Storecoin creates role for HS students on blockchainLearn More
  • Tech policy innovator Charles Belle assumes compliance role for StorecoinLearn More
  • Unique properties of Storecoin's Dynamic Proof of Stake protocol minimize incentive-driven threatsLearn More
  • Presentation by Storecoin Creator Chris McCoy on the zero-fee payments protocolLearn More
  • Creator Chris McCoy explains the benefits of Storecoin's DyPoS protocol during a panel discussion on scalability at Bitcoin Magazine's Distributed 2018 ConferenceLearn More
  • Cryptocurrency news site Bitcoin.com highlights Storecoin’s unique governance modelLearn More
  • Testing on Blockfin, Storecoin’s consensus engine, grows to 220 validator nodes and 40 message nodes See Github Repo
  • Storecoin Creator Chris McCoy shares thoughts on future of blockchain, data and crypto tokens in interview with tech media legend Tony PerkinsLearn More
  • Visual Whitepaper, the precursor to Storecoin’s whitepaper, is released publicly Full Visual Whitepaper, Summary
  • Storecoin publishes an open-source proposal to increase throughput and decentralization in Tendermint Learn More
  • Project Fort Knox: Storecoin takes major steps to secure its code base with the help of the Amazon Blockchain Strategy Group Learn More
  • Storecoin achieves +10,000 Transactions-Per-Second with Burst Traffic and 21 Validator Nodes Learn More
  • BlockFin — our fork tolerant, auditable, and high throughput consensus algorithm — is released for internal peer review Learn More
  • Noah Ruderman, Facebook engineer, joins Storecoin as a Technology Advisor Learn More
  • Stephen McKeon, one of the nation’s leading thinkers on the economics of blockchain and cryptocurrencies, has joined Storecoin’s team of advisors. Learn More
  • Storecoin co-sponsors BPASE -- Stanford University’s Blockchain Protocol Analysis and Security Engineering 2018 Conference held Jan. 24 through 26. Learn More
  • Arrington XRP Capital makes Storecoin one of its first pre-public token purchases. Learn More
  • Chris McCoy will give a presentation about crypto economics on Jan. 24 at the Crypto Finance Conference in LA. Learn More
  • Storecoin, releases test 1 of 7 results for load testing of its Dynamic Proof-of-Stake consensus algorithm - Read Here
  • Chris McCoy, Storecoin's Creator, introduced Storecoin to an international audience at the Crypto Finance Conference in Switzerland this month. Learn More
  • Ari David Paul, the CIO of BlockTower Capital, joins as a Strategic Advisor
  • Mark Ramberg, formerly the GM of Amazon AWS Media & Entertainment, joins as our Platform and API advisor
  • Nate Lubin, formerly the Digital Director in the President Obama White House, joins as our Marketing and Communications advisor
  • Rajiv Patel of Fenwick and West joins to help Storecoin file patents for DyPoS Learn More
  • Blocktower Capital makes Storecoin its first pre-public ICO project.
  • TechCrunch publishes Chris McCoy's thoughts on the future of tokenization -- or Securitization 2.0 Learn More

Our Team

We have been thinking very long-term about the potential for zero fee, programmable payments.

Chris McCoy

Chris McCoyFULL-TIME

Creator

16 years experience building internet and blockchain-based technologies. Chairman at Footprint, tools for blockchain ecosystems. Member of the Blockchain Initiative at the World Economic Forum's Fourth Industrial Center. Founded the 501(c)(3) Data4America. Invented YourSports.


Rag Kidiyoor

Rag BhagavathaFULL-TIME

Chief Technology Officer

Over two decades of building distributed messaging, social networking, and database technologies. Has been working with Storecoin Creator Chris McCoy since 2011. Previous Cloud Infrastructure Engineer @Apple (2011-2012), Frontend Architecture @Cisco WebEx (2006-2011).

+12 OTHERS

Jason Varner

Jason Varner

Analyst

10 years modeling economics for hedge funds, internet startups, and blockchains.


Jay Pal

Jay Pal

DevOps

30 years in building distributed computing technologies. Leads DevOps at Footprint -- a global product team shipping software 24/7 using continuous integration and continuous deployments.


Pablo Yabo

Ari Paul

Strategic Advisor

CIO at BlockTower Capital, angel investor, former PM for the UChicago endowment.


Mark Ramberg

Stephen McKeon

Cryptoeconomics Advisor

Finance professor at University of Oregon studying cryptoassets, security issuance, private equity, and M&A.


Mark Ramberg

Nate Lubin

Communications Advisor

Former Director of the Office of Digital Strategy @White House (14-16), Director of Digital Marketing for Obama for America (08, 12), Political Science @Harvard


Mark Ramberg

Noah Ruderman

Technology Advisor

Former Facebook software engineer studying privacy and cryptocurrency architectures with properties that scale


Mark Ramberg

Mark Ramberg

Platform Advisor

Led global business for Amazon Web Services’ activity in the digital media industry (11-15), currently a VP at Akamai, cloud expert, distributed computing innovator.


Antone Johnson

Antone Johnson

General Counsel

20 years experience as business and technology lawyer, startup advisor, and executive. Antone previously served as VP of global legal affairs at eHarmony and practiced corporate law at Wilson Sonsini Goodrich & Rosati (WSGR).


Rajiv Patel

Josh Lawler of Zuber Lawler & Del Duca LLP

Strategy Lawyer

Focuses on novel issues presented by developing technology including Blockchain (distributed ledger), artificial intelligence, robotics, virtual/augmented reality and internet of things.

What others are saying about Storecoin

Why the name Storecoin?

Storecoin’s governance incentivizes up to 51% of its circulating token supply to be staked by STORE owners. This incentivizes a majority of STORE to be a secure Store-of-Value.

This also enables more than 49% of the STORE circulating token supply to be available and used for zero-fee, programmable payments (a Medium-of-Exchange).

Store like gold. Spend like a coin. All with zero fees.

Storecoin: An Overview

Zero-Fee, p2p Payments – Scalable and decentralized zero-fee payments infrastructure for the public internet
A New Public Blockchain – Not a dApp, ERC20 token, DPOS blockchain, fork, or DAG
Global – $STORE aims to become the internet’s reserve, zero-fee cryptocurrency
Fast – 5,000+ transactions per second (TPS) at launch and expected to increase as transaction demand increases
Adaptive – Parallel and pipelined block production enables increasingly faster throughput (scalability)
Decentralized – On a path to unlimited nodes validating p2p transactions
Censorship Resistant – On a path to defeating sovereign-grade attacks
Secure – Byzantine Fault Tolerance up to 1/3 malicious nodes with continuous on-chain monitoring for bad actors
A Store-of-Value – Up to 51% of circulating token supply can be staked, providing security
A Medium-of-Exchange – 49% can be available for zero-fee payments, enabling utility
Inflation Pays Fees – Up to 20 Million $STORE is added yearly to incentivize consensus, security, distribution, and more
Sound Money – Non-compounding and low inflation puts $STORE on a path to sound money (similar to Bitcoin)
Leaderless – All nodes participating in decentralized work are rewarded for their contributions – on every block
Centralization is Mitigated – Nodes are limited to earning 5% of the block reward no matter their stake size
Democratic p2p Governance – A checks-and-balances governance to upgrade features, leadership, monetary policy
No Plutocracy! – In governance, it’s one-entity equals only one vote paving the way for a p2p democracy
Apps not dApps – Zero-fee $STORE payments inside of apps is the first use case (SMTP but for zero-fee payments)
Cash Registers, Eventually – On a long-term path to bringing zero-fee $STORE payments into retail cash registers
Global Distribution – Banks and processors will be paid in $STORE block rewards instead of transaction fees
Community – Already in 56 countries and rapidly expanding – global meet-ups are next
Ecosystem Fund – Will grow the security, adoption, and liquidity of $STORE – all around the world
Late 2019 Launch – The first two years will be focused on achieving security, Store-of-Value, and minimum viable protocol
Governance Comes Next – A formal vote of checks and balances will attempt to ratify Storecoin’s governance in 2021

How Storecoin Compares

Current Web3 protocols are data-light, decentralized computing. Storecoin is data-rich, decentralized computing.

*For live networks, decentralization is based on current status, not future goals

*Inspired by research from Tom Shaughnessy and Delphi Digital

*View data used in the graphic at http://storecoin.com/compare

How Storecoin compares to traditional, fiat-powered payment infastructure

Payment SystemSpeedCost
(per transaction fee)
Scalibility
(transactions per second)
Storecoin (STORE)
*Estimates based upon our current R&D.
<100 milliseconds*Dependent upon the incoming transaction rate and parallelism achieved.Zero-Fee for Developers and UsersPaid for with up to 2% yearly token inflation, or a maximum of 20 Million $STORE.
5,000+ TPS at launchusing 22 to 220 validators during launch NOTE: Storecoin is on a path to unlimited p2p nodes securing the network with many thousands of TPS
See More
Visa
Swipe Card: < 2 secs
Chip Card: < 5 secs
$0.10 plus a 1.51% of transaction feeUp to 24,000 TPS-5,000 TPS is generally believed for VISA1,600 network endpoints
PayPal
Less than 2 seconds for PayPal but 3-5 days for banks to process$0.30 plus %2.9, varies for foreign payments450 TPSCentralized servers hosted by PayPal
Stripe
Near Instant2.9% + $0.30 for each successful card charge20 TPS (rate-limited by Stripe)Likely near-instant payments
Western Union
A few minutes to a few days10% for small transactions
1% for larger transactions
30 TPSCentralized servers hosted by Western Union 500,000+ locations
SWIFT
1 to 5 days$15-$35 for Domestic
$15-$45 for International
350 TPSProvides communication for 10,000,000+ institutions

Storecoin's one-entity, one-vote governance of checks and balances is the coordination mechanism for the zero-fee payments protocol.

Join a public peer review of governance at http://storecoin.com/governance

How Storecoin is Different

First, we believe zero-fee transactions, decentralization, and high-throughput must co-exist to enable the global adoption of cryptocurrencies.

Second, we believe they cannot exist together without a new, integrated approach that delivers security, sound p2p money, equitable incentives, and a democratic approach to governance that doesn’t result in another p2p plutocracy.

Storecoin intends to integrate these approaches into its Dynamic Proof of Stake protocol (DyPoS).

Our approach is research-intensive, security-first, and milestone driven.

Our Milestones

MILESTONETYPESOURCE
August 2019 SourceStorecoin releases its Cost Per Thousand Transaction (CPT) research quantifying the costs of centralized and decentralized cloud computing. Source
July 2019 SourceStorecoin conducts its first Ask Me Anything (AMA), this one with Messari. The project also announces its open source governances Source
June 2019 SourceStorecoin releases its Litepaper, a 32 page high-level research document outlining the project Source
May 2019 SourceOver 43% of the current STORE circulating supply pre-registers to stake and secure the Storecoin public blockchain Source
Apr 2019 SourceStorecoin launches its Research Division releasing specs on its address schema, its staking economics, and compares BlockfinBFT to other consensus algorithms like Tendermint Source
Mar 2019 SourceStorecoin releases its long-term plans for a zero-fee, p2p cloud computing platform with data-backed tokens (datacoins) Source
Feb 2019 SourceStorecoin joins the Messari Disclosure Registry; commits to fixed and long-term emission schedules for its treasury; the first simulation of our BlockfinBFT BFT consensus algorithm is released Source
Jan 2019 SourceThe governance peer review mailing list grows to 70+ Source
Dec 2018 SourceStorecoin releases the first version of its zero-fee computing platform for internal peer reviewSource
Nov 2018 SourceStorecoin releases its governance of checks and balances for public peer reviewSource
Oct 2018 SourceFirst version of the Storecoin Wallet is releasedSource
Aug 2018 SourceCommunity members are wearing $STORE tees in 56+ countries and our Telegram grows to 2,000+Source
Jul 2018 SourceStorecoin releases a new inflation plan to be in alignment with sound money of gold and BTCSource
Jun 2018 SourceTesting on BlockfinBFT grows to 220 validator nodes and 40 message nodesSource
Apr 2018 SourceStorecoin’s consensus engine BlockfinBFT becomes patent pending as to prevent malicious hard forksSource
Mar 2018 SourceStorecoin pushes the Tendermint consensus to 169,00 transactions per second with 8 nodesSource
Jan 2018 SourceStorecoin’s second milestone-based sale ends, adding 200+ wallets and $1.3 MM of Treasury Source

See our engineering roadmap here

Long-Term Treasury Plan

Storecoin's Treasury is set to operate on a long-term, thousand-year+ time horizon.

Both co-founders vest over 8-years. An election in 2021-2022 will elect the first Executive Director.

Use of Treasury Sold
Treasury Schedule (1 Billion $STORE authorized)
Sold in up to six milestone-based token sales.
Governance can modify the Treasury Plan/Use.
Token Sale funds to last for 16 years
Allocated to the non-profit for incentivizing growth of the STORE ecosystem, dWorker adoption, team, and more – emits in the first 100 years
Locked up in a long-term emission schedule giving the non-profit access to genesis block Treasury to grow $STORE adoption - emits over 1,000 years
Founding inflationary block rewards to pay for Storecoin security, governance, distribution, and more. Once the fund ends, up to 20MM new $STORE will be added to the total authorized supply each year.
Founding miner bonus. This is based on a bonus miners get for the initial staking auction. Staking for 1 year is a 10% bonus and staking for 2 years is a 20% bonus (on amount staked).

NOTE: Up to 2% new inflation per year pays for block rewards

Inflationary rewards are pegged to the 1 Billion genesis token supply

Up to 20 Million $STORE is the maximum yearly new token inflation

Inflationary rewards don’t compound; there will be no hyperinflation

Storecoin (non-profit) will be endowed with 2.5% of all block rewards

About Team Rewards

About Team Rewards

Executive Director and CTO have 8-year vesting with 3 month cliffs

All Team has 4 year vesting with 3 month cliffs

Advisors have 2 year vesting with 6 month cliffs

Incentive partners have milestone-based vesting

1,000 year Emission Schedule (Genesis Block of 1 Billion $STORE)


Projected 1,000-year Emission + Inflationary Block Rewards Schedule (Up to 20MM $STORE added per year)

*For all data, visit: http://storeco.in/soundmoney

Storecoin

+8-YEAR ROADMAP

Storecoin Launch
  • High-throughput consensus, up to 5,000+ transactions per second
  • Up to 240 nodes participate in alpha launch
  • More nodes join in beta and production launches eventually resulting in an unlimited number of computers securing consensus
  • It’s permissionless and authenticated to secure the protocol. Anyone in the world can participate. Know-Your-Voter registration is required for dWorkers (miners). This ensures a one-entity, one-vote democratic and decentralized p2p governance of checks and balances can be secured against sybil attacks at a global scale.
  • achieves censorship resistance because of the growing number of decentralized workers securing the protocol; rewards for workers grow as the number of workers grows; rewards are paid through token inflation capped at 2%/year
  • The Storecoin Ecosystem Fund launches
  • Key patents are secured to protect against malicious hard forks outside of Governance
  • A secure engineering and CI/CD process is built to protect private keys from theft by any and all project contributors
ZERO-FEE, P2P PAYMENTS
Wallet Released
  • Wallet distributes private keys
  • Private keys distributed to owners
Storecoin Growth
  • Unlimited nodes in the world can secure the Storecoin blockchain
  • 10,000+ transactions per second
  • Once a threshold of 180 validators are reached, Decentralized Security Guard nodes (dGuards) are added to find bad actors throughout the protocol
  • Masternodes/eAgents are introduced for better throughput once 240 Validators are reached (Level 2 scaling)
  • The Storecoin Security Fund and Distribution Fund begins earning block rewards
  • Communication and Voting for Governance is hosted by decentralized Govnode workers making Governance censorship resistant
  • U.S. Money Transmitter Licenses achieved
  • moved to a non-profit foundation
Store-of-Value Achieved
  • Up to 51% of the STORE circulating supply is staked by decentralized workers (dWorkers)
  • Up to 49% of the circulating supply is available for zero-fee, p2p payments
STORE PAYMENTS MATURE
Developer API
  • Wallet APIs for a programmable p2p currency
  • Built for mobile and web app developers
  • Wallet is like Stripe but for STORE tokens
APIs Mature
  • Stripe-like Wallet APIs enable third party app developers to build on top of the Storecoin blockchain using STORE tokens in their apps
  • The Storecoin Ecosystem Fund accelerates adoption of Wallet
  • Developers stake tokens to use Wallet; this helps prevent DDOS attacks
High-throughput Transactions
  • 100,000+ transactions per second
Global Consensus
  • 25,000+ computers helping secure Storecoin
In-App Incentives
  • Powers in-app, incentivized API calls with
  • Developers register their app and choose APIs
  • Users earnby taking incentivized API calls
  • cApps are the first design space for
In-App Payments
  • Powers in-app, fee-less payments with
STORE-AS-A-PLATFORM
Smart Contracts
  • Native protocol support for smart contracts
  • Smart contract client libraries in different languages
  • Smart contract transactions will remain zero-fee: dWorkers will be paid in $STORE block rewards plus block rewards from the dApp to host its data, secure its transactions, and more
Ready for Cash Registers
  • Using smart contracts, Storecoin can solve for Chargebacks
  • Merchants wanting to accept zero-fee payments would stake a small percentage of inventory to insure against potential chargebacks
  • Decentralized Service Agents – sAgents – review and reach consensus on all Chargeback cases. A smart contract then executes
Payment Fraud Supported
  • Users stake tokens to file fraud tickets
  • sAgents review fraud tickets from customers
  • If approved, the fraud is reviewed by the non-profit (the non-profit makes a final determination on early fraud cases)
  • Fraud refunds are paid for by the Storecoin Security Fund and/or by equally using the stake of all dWorkers
  • If payment fraud grows, dWorkers and the non-profit are both equally incentivized to fix fraud through Governance
  • Governance will likely reach consensus on new features and monetary policy to reduce future fraud
$STORE AS GLOBAL CURRENCY

Our Core Team is spreading STORE globally


All money is trust, and belief in STORE is on the rise

Earn a free Storecoin tee by Join our Community

Our Approach

We’re a research-focused, security-first, and milestone-driven team that believes the most optimal design for Storecoin will be found through a community-driven process of public peer review.

Our peer review process is open, global, and designed to attract the best minds from around the world to strengthen our Governance, Economics, Security, Consensus, and Distribution proposals.

Started in November 2018, our proposal for a democratic, p2p governance has been opened up in an ongoing peer review with 70+ academics, builders, analysts, investors, and more.

Our public peer review will play an important role in helping ratify a decentralized and democratic governance of checks and balances.

In 2020, we’ll launch Storecoin. By 2021-2022 – through a ratification process – we will attempt to fully decentralize Storecoin with a p2p governance that will coordinate all changes across features, security, key leadership, and monetary policy.

TECHNOLOGY

About Dynamic Proof of Stake (DyPoS)

Overview

Today’s blockchains make tradeoffs between scalability and decentralization. Neither choice is good. For mature crypto use cases, both scalability and decentralization must co-exist.

The tradeoff as it’s currently imagined is rooted in the “create one block at a time” design philosophy embraced by today’s major protocols. Storecoin solves this with its leaderless, high-throughput BlockFin consensus algorithm, designed to process multiple blocks simultaneously in a pipelined fashion.

At the same time, even with innovations, technology alone cannot solve for both scalability and decentralization.

Enter Storecoin’s Dynamic Proof of Stake (DyPoS).

DyPoS combines the BlockFin consensus algorithm with a security-dependent economic model that will be coordinated by a decentralized and democratic p2p governance. DyPoS discourages the formation of large validator pools, which tend to drive today’s protocols towards centralization over time. It also creates different worker types for different responsibilities, so, with a governance of checks and balances, decision power is never centralized. Every node only has a single vote and whatever organization that – whether a non-profit or a for profit – controls project Treasury and commit access to the code base can be legally overruled by the miners (dWorkers). There is no plutocracy.

Together, technology, economics, and a democratic, p2p governance will realize the dream of true decentralization with high scalability.

The Five Decentralized Workers of DyPoS

Decentralized Workers (dWorkers) earn Storecoin tokens as block rewards or interest for running various types of Storecoin nodes on their computers and/or phones to scale, secure, host, and govern the blockchain.

NOTE: sAgents, a new type of dWorker, may be introduced in the future to help solve for payment fraud and chargebacks

Click to expand
Expected to
come online
2020
2020
Once a throughput threshold for 240 Validators is reached
Once a security threshold for 180 Validators is reached
2021 - 2022

The Six Engines Powering DyPoS

Dynamic Proof of Stake is made up of six interdependent engines.

Each engine is state-dependent of the others which is why we call it dynamic.

BlockFin is the underlying algorithm of DyPoS – our security, economics, and scaling protocol.

Dynamic (Zero Fee) Transactions
Dynamic (Zero Fee) Transactions

Transactions are free forever for users, developers, and merchants. This removes the friction and complexity associated with transaction fees. The cost of transaction processing is paid for by annual, dynamic inflation capped at 2%. To ensure security of the network however, a small security bond is required with each transaction, which is returned to the sender, once the transaction is deemed to be legitimate and not a spam or DDoS attack.

Dynamic Validation (BlockFin algorithm)
Dynamic Validation (BlockFin algorithm)

A leaderless, parallel block assembly and validation process ensures continuous transaction finalization, which results in high throughput. To facilitate this, a two-tier network consisting of Validators and Messagenodes is designed, so a large number of validators can participate in the consensus process. This makes BlockFin a high throughput and a highly decentralized consensus engine. The Validators and Messagenodes share the block rewards proportional to their work for every block they help assemble and validate. This is a breakthrough in the economics of consensus algorithms.

Dynamic Block Rewards
Dynamic Block Rewards

Dynamic, yearly token inflation capped at 20 Million $STORE per year – or 2% of the genesis token supply – pays out block rewards to four type of decentralized workers: Validators, Masternodes, dGuards, and Govnodes. Block rewards are determined by the percentage of staking amongst the decentralized workforce. For example if 51% of the circulating token supply is staked by dWorkers, inflationary rewards will be 2%. Rewards are paid out as follows: 85% participate in consensus, store the data, and scale the blockchain; 15% for on-chain security, on-chain governance, and off-chain blockchain operations – forever.

Dynamic Security
Dynamic Security

Decentralized Security Guards (dGuards) secure the protocol by running full nodes to monitor all transactions and dWorker activity. They're rewarded with 75% of the burnt stake or bond from the bad actors. 25% is paid to the Security Fund to help cover future payment fraud. Also, a Threat Level System determines the prices for all network activity, making the cost of attacking the network increasingly greater as the Threat Levels increase. Finally, security bonds are required to be sent with each transaction. This mitigates transaction spam and DDoS attacks.

Scaling with eAgents (Level 2 scaling)
Scaling with eAgents (Level 2 scaling)

As the number of validators increases the block validation process slows down. In order to scale the transaction throughput and make block validation instant with unlimited validator participation, Storecoin introduces a special type of worker called the encrypted agent, or eAgent. eAgents validate blocks on behalf of their configured validators. Hundreds of eAgents are run alongside each other in secure containers called Masternodes thus alleviating the need for expensive network calls. So, the blocks are assembled and validated in constant time independent of the number of validators participating in the network. This brings scaling and decentralization, which are typically at the two opposite ends, together.

Governance with Checks and Balances
Governance with Checks and Balances

Storecoin’s approach to governance is inspired by the checks and balances of the United States Constitution. The model is designed to ensure that there is no centralization of power for protocol level changes; that monetary policy cannot be changed without formal governance approval (i.e. no Fed-like system); and that this happens while preserving security above all. The Storecoin organization has executive power until formal ratification of Governance, anticipated Q42021-Q42022. Governance itself will be censorship resistant via a governance dApp for voting & messaging that is hosted by decentralized Govnodes around the world.

Dynamic (Zero Fee) Transactions
Dynamic (Zero Fee) Transactions

Transactions are free forever for users, developers, and merchants. This removes the friction and complexity associated with transaction fees. The cost of transaction processing is paid for by annual, dynamic inflation capped at 2%. To ensure security of the network however, a small security bond is required with each transaction, which is returned to the sender, once the transaction is deemed to be legitimate and not a spam or DDoS attack.

Dynamic Validation (BlockFin algorithm)
Dynamic Validation (BlockFin algorithm)

A leaderless, parallel block assembly and validation process ensures continuous transaction finalization, which results in high throughput. To facilitate this, a two-tier network consisting of Validators and Messagenodes is designed, so a large number of validators can participate in the consensus process. This makes BlockFin a high throughput and a highly decentralized consensus engine. The Validators and Messagenodes share the block rewards proportional to their work for every block they help assemble and validate. This is a breakthrough in the economics of consensus algorithms.

Dynamic Block Rewards
Dynamic Block Rewards

Dynamic, yearly token inflation capped at 20 Million $STORE per year – or 2% of the genesis token supply – pays out block rewards to four type of decentralized workers: Validators, Masternodes, dGuards, and Govnodes. Block rewards are determined by the percentage of staking amongst the decentralized workforce. For example if 51% of the circulating token supply is staked by dWorkers, inflationary rewards will be 2%. Rewards are paid out as follows: 85% participate in consensus, store the data, and scale the blockchain; 15% for on-chain security, on-chain governance, and off-chain blockchain operations – forever.

Dynamic Security
Dynamic Security

Decentralized Security Guards (dGuards) secure the protocol by running full nodes to monitor all transactions and dWorker activity. They're rewarded with 75% of the burnt stake or bond from the bad actors. 25% is paid to the Security Fund to help cover future payment fraud. Also, a Threat Level System determines the prices for all network activity, making the cost of attacking the network increasingly greater as the Threat Levels increase. Finally, security bonds are required to be sent with each transaction. This mitigates transaction spam and DDoS attacks.

Scaling with eAgents (Level 2 scaling)
Scaling with eAgents (Level 2 scaling)

As the number of validators increases the block validation process slows down. In order to scale the transaction throughput and make block validation instant with unlimited validator participation, Storecoin introduces a special type of worker called the encrypted agent, or eAgent. eAgents validate blocks on behalf of their configured validators. Hundreds of eAgents are run alongside each other in secure containers called Masternodes thus alleviating the need for expensive network calls. So, the blocks are assembled and validated in constant time independent of the number of validators participating in the network. This brings scaling and decentralization, which are typically at the two opposite ends, together.

Governance with Checks and Balances
Governance with Checks and Balances

Storecoin’s approach to governance is inspired by the checks and balances of the United States Constitution. The model is designed to ensure that there is no centralization of power for protocol level changes; that monetary policy cannot be changed without formal governance approval (i.e. no Fed-like system); and that this happens while preserving security above all. The Storecoin organization has executive power until formal ratification of Governance, anticipated Q42021-Q42022. Governance itself will be censorship resistant via a governance dApp for voting & messaging that is hosted by decentralized Govnodes around the world.

Where Storecoin’s Dynamic Proof of Stake fits in

The market of permissioned vs. permissionless consensus algorithms and blockchains

Click to see blockchains using each algorithm

BlockFin is the consensus algorithm underneath DyPoS

Why Storecoin's BlockfinBFT Consensus Algorithm Matters

BlockfinBFT turns chain fork and orphan block “waste” into near-instant block production

In the late 1860’s, gasoline was a waste product thrown into rivers and fields by the oil refineries. It was John Rockefeller’s Standard Oil that invented a way to refine the waste and turn it into gasoline. This invention gave rise to the automobile industry and beyond.

Today, public blockchains have their own waste: chain forks. Since the longest chain wins in consensus, chain forks become wasted compute (and electricity). This results in lower transaction throughput.

Storecoin’s BlockfinBFT consensus engine turns this “waste” into near-instant block production.

How? BlockfinBFT moves away from the “winning node creates the new block” paradigm to a new paradigm where all nodes assemble transactions into pre-created empty blocks while validating them in multiple, asynchronous stages. There are no chain forks in BlockfinBFT because there is no “add-one-block-at-a-time” construct. The blocks are finalized in a pipeline.

Storecoin calls this invention “fork-tolerant”.

Fork-tolerance is how Storecoin achieves high-throughput with true decentralization.

The 3 Principles of BlockfinBFT

BlockfinBFT allows the Storecoin blockchain to achieve high-throughput and true decentralization without the need for sharding, off chain transactions, level 2 scaling, etc.

1 High Throughput
Incoming transactions are assembled into pre-created empty blocks, thus avoiding chain forks altogether. This allows for parallel and pipelined block validation process, resulting in high throughput.
2  Leaderless
All validators participate in the consensus - and are rewarded for it - for every block, resulting in non-zero sum consensus.
3  Decentralized
Leaderless participation in the consensus and on-chain governance led by different worker groups for different responsibilities leads to true decentralization.

Timeline for the Storecoin mainnet launch

Storecoin on a path to becoming sound money

Storecoin’s credibly low and non-compounding inflationary monetary policy puts $STORE on a long-range path to one day becoming sound money.

The Case for $STORE as a Next Money

Throughout history, humans have continually upgraded their money.

History of Money: Shells Metals Gold Bank Notes bitcoin

The history of money has shown us that technological progress continually enables new ways of facilitating commerce and trade – through new forms of trusted and secure money.

In short, technology enables the adoption of new money.

Alongside $BTC, a zero-fee, p2p, and programmable cryptocurrency like $STORE could be the next evolution of globally trusted and sound money.

The 10,000 Year View of Gold, Fiat Money, and Cryptocurrencies

How sound-money cryptocurrencies like Bitcoin and Storecoin can become new global money

Inspired by: Woolbull.com (@woonomic)
Sources: IMF, Financial Times, http://storeco.in/soundmoney

The Case for $STORE as Sound Money

Projected Annual Inflation of ‘Sound-Money’ vs. Storecoin Over 1,000 Years

*For all data, visit http://storeco.in/soundmoney

How Bitcoin and Storecoin are on a path to sound money

Average Annual Compounding Inflation Rate of p2p Protocols in Their First 100 Years (CAGR)

*For all data, visit http://storeco.in/soundmoney
*Ethereum isn’t included due to uncertainty in its monetary policy

Comparing the inflation and emission schedules of major p2p protocols

Inflationary Rewards Plus Emissions per Year for p2p Protocols in First 100 Years

*For all data, visit http://storeco.in/soundmoney
*Ethereum isn’t included due to uncertainty in its monetary policy

Monetary policy is the most difficult to change in Storecoin’s Governance of checks and balances.

The economics of DyPoS

The 5 Economic Goals of DyPoS

#1
Increase protection against an attack on DyPoS with added decentralization
#2
Incentivize for staking which delivers security and Store-of-Value
#3
Incentivize for profitability among different node types
#4
Incentivize nodes for providing additional security including extra bonuses for length of staking, size of stake, and uptime
#5
Incentivize an environment where nodes continually search for more efficient forms of storage and bandwidth capacity
Over time, these incentives will drive down the cost of storage, bandwidth, and CPU resources enabling Storecoin to become the most efficient and scalable public blockchain not just for zero-fee p2p transactions, but for p2p hosting of any data or service built on top – including smart contracts, dApps, and more.

How incentives drive long-term efficiency for the Storecoin blockchain

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Bitcoin’s Proof of Work incentivizes for the development of the cheapest forms of energy/ electricity and faster/cheaper ASICs.

Storecoin’s Dynamic Proof of Stake incentives for the development of the cheapest forms of storage, memory, bandwidth, CPU, and more.

How STORE is both a Store-of-Value and a Medium-of-Exchange

Storecoin uses both economic rewards and caps on rewards to incentivize for 51% of the blockchain’s circulating token supply to be utilized as a Store-of-Value (blockchain security) while 49% is utilized as zero-fee, programmable payments infrastructure (Medium-of-Exchange).

Ideal circulating supply in Storecoin

Store-of-Value and protocol network effects create long-term economic value

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How Store-of-Value is achieved on Storecoin

A maximum of 20 Million $STORE tokens, or up to 2% of the genesis token supply, is minted annually as new token inflation to keep payments zero-fee for buyers and sellers transacting with $STORE.

These inflationary rewards are pegged to the percentage of the circulating token supply, incentivizing up to 51% of the supply to be staked as a secure Store-of-Value.

As inflationary rewards grow, more dWorkers will stake. This grows protocol network effects, on-chain security, and Store-of-Value properties. As the price of $STORE grows, the total contract value of all tokens staked grows. As the total contract value grows, Storecoin will become even more of a secure Store-of-Value.


How Security is Incentivized with Block Rewards

In short, inflationary rewards secure Storecoin. To incentivize for more on-chain security, Storecoin allocates more rewards. This is called Protocol Security. To stabilize the downside of price volatility for miners, Storecoin allocates more rewards. This is called Economic Security. Together, they form the security budget for Storecoin.

Protocol Security receives 75% of the security budget. Economic Security receives 25%.

How Protocol Security helps secure Storecoin

Storecoin incentivizes for nodes (dWorkers) to stake, run the Storecoin computer on their local machine, and therefore to secure the Storecoin p2 consensus. The more nodes staking and the more at stake, the more secure Storecoin is. Security is defined by fault tolerance and difficulty to perform a 1/3 attack on the blockchain.

Using a capped inflationary block reward pool of up to 20 Million new STORE pear year, Storecoin incentives for up to 51% of the circulating supply to be staked. Rewards are pegged to the amount of circulating supply staked. After 51% is staked, no more rewards are issued to dWorkers. +49% of the circulating supply can be used for zero-fee, p2p payments.


How staking increases decentralization or Protocol Security

Storecoin dynamically incentivizes for on-chain security using capped inflation pegged to security itself.

How Economic Security helps secure Storecoin

Protocols need more than decentralization to survive attacks. The miners securing protocols need to stay profitable in order to keep mining. If miners are unprofitable, over a long enough period of time, they will eventually stop mining.

Without miners, p2p base layer protocols will die from 51% attacks or apathy. This is called a death spiral.

Bitcoin attempts to solve for this with a periodic difficulty adjustment where the required hash power needed to mine a block decreases as mining participation decreases and vice versa. This keeps the time between blocks at roughly 10 minutes apart and better aligns the cost to mine with the current BTC price. The difficulty adjustment helps miners stay profitable.

Proof-of-Stake algorithms do not have a difficulty adjustment. They’re destined to death spiral if the token price falls below the cost to secure the network (to mine) – over a long enough period of time. Unless investor subsidized, death is inevitable.

As a Proof-of-Stake protocol, to solve for the same difficulty adjustment solution as Bitcoin’s proof of work algorithm, Storecoin has invented Economic Security – an algorithm that dynamically adjusts miner rewards based upon the cost to secure the network relative to the USD price of STORE.

Combined, Economic Security with Protocol Security can keep Storecoin viable as zero-fee, programmable payments infrastructure.

Storecoin dynamically incentivizes for on-chain security using capped inflation pegged to security itself.


How a decreasing $STORE price increases Economic Security

Storecoin dynamically generates a difficulty adjustment to help miners stay profitable

How Block Rewards are Allocated at Launch

Decentralized Workers earn up to 20 Million $STORE tokens per year – or 2% of the total authorized token supply – to secure the p2p consensus,, host data, and supply compute to the blockchain. Rewards are pegged to protocol security (the % of circulating supply staked by dWorkers) and to economic security for dWorkers (the market price of $STORE relative to recommended annual node hardware/compute costs).

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NOTE: Monetary policy can evolve through Storecoin’s Governance of checks and balances

How the zero-fee STORE token is distributed to the global masses

To get distribution into cash registers, App Stores, digital wallets, and banking infrastructure around the world, Storecoin will cut $STORE distribution partners into its block reward.

Instead of getting paid by transaction fees, banking and financial partners will get paid by $STORE tokens. This is a major economic innovation across traditional finance and cryptocurrency.

Making programmable, p2p payments zero-fee while still generating revenue for its banking and financial partners is how Storecoin competes with VISA-like networks and beyond.

ACQUIRERS/ PROCESSORS
CARD NETWORKS
BANK/ ISSUES
GATEWAYS
WALLETS

dWorkers have consumer-friendly tools to make long-term economic decisions about staking

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Why will consumers spend their $STORE if it’s going up in value? Why will merchants accept $STORE if it’s going down?

Removing the transaction fee will always make it cheaper for buyers to purchase using $STORE and more profitable for sellers to accept $STORE.

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Developers and Merchants have simple tools to help make economic decisions to accept $STORE

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Ongoing Research in Economics

  • Economics to solve chargebacks and payment fraud using a new type of decentralized worker - the sAgent
  • Transaction sending parameters as it relates to DDoS attacks

How DyPoS is secured

The Storecoin Threat Level System

The Storecoin Threat Level System powers real-time market prices for the Six Engines of DyPoS. The System threat level algorithmically updates as transaction volumes rise and fall. As threat levels rise, the cost of spam and attacks rise too.

Severe

The network is under attack (DDoS, spam), a large volumes of incoming transactions, the number of validators online dropped below BFT threshold, and validator misbehavior is observed by dGuards during consensus

High

The nodes are reporting imminent attack (DDoS, spam), transaction volume is unusually large, number of validators online is nearing BFT threshold, and consensus rounds slow down due to disagreements

Elevated

Signs of attack (elevated number of invalid transactions), not all validators are currently online, and consensus rounds are repeated due to disagreements

Guarded

Unusual number of transactions and not all validators are currently online

Low

No known threats

The Cost of Cheating > Ever Winning

Storecoin’s BlockfinBFT consensus protocol is Byzantine Fault Tolerant (BFT) and implements slashing (confiscating or burning the deposit) as a punitive measure for misbehaving entities in the system. As the Threat Levels increase, so do the prices for getting caught attacking the network or deviating from protocol. These dynamic Threat Levels ensure that the cost of getting caught will be greater than winning.

dGuards “find the rats” for Storecoin

Storecoin’s decentralized security guards (dGuards) patrol the network continuously and mitigate the chances of attackers winning. If dGuards reach consensus on an attack, they are rewarded with 100% of the burnt stake or burnt stake for all bad actors and/or transactions. Storecoin’s Security Branch makes the final determination on tickets filed by dGuards before punitive measures are taken.

The Network Effects of Security and DyPoS

The strength of Dynamic Proof of Stake is that it aligns the economic incentives of all stakeholders for more staking, therefore more worker participation, therefore more protocol decentralization, therefore more security.

Staking incentivizes for decentralization and on-chain security

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How Dynamic Security Works(with dGuards)

Decentralized Security Guards, or dGuards, secure the protocol by running full nodes to monitor all transactions and dWorker activity. They're rewarded with 75% of the burnt stake or bond from the found “bad” actors. The other 25% is paid to a security fund that refunds found payment fraud on the blockchain (ETA 2021).

dGuards run full nodes and download the latest blockchain state.

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Ongoing Research in Security

  • The introduction of a security bond to mitigate DDoS attacks
  • Address DDoS attacks before the invalid transactions reach the validator nodes
  • Research BLS signature aggregation to mitigate the large number of signatures created during block validation process
  • Address > 1/3 nodes colluding to halt the block validation process by being able to instantly provision backup validators to restore BFT threshold
  • Continuous monitoring of the network for patterns of malicious behaviors over long periods of time
  • Use predictive modeling techniques to forecast the safety of the network given the total number of transactions, current active clients, current active nodes, etc

About Storecoin’s Governance
(public peer review began in November 2018)

Storecoin is designed around a governance of checks and balances that can be understood, trusted, and participated in by miners, app developers, merchants, and the largest organizations in the world – all at the same time.

Our one-entity, one-vote decentralized governance proposal will enable voters (the dWorkers or miners) to reach consensus on decisions ranging from new features to leadership to monetary policy.

Our proposal can secure a global, p2p democracy. There will be no plutocracy – no rule by the rich or those who control the most tokens – on Storecoin.

As governance grows as a topic of importance, different blockchains are organizing themselves around a diversity of approaches. We believe a decentralized republic characterized by checks and balances is the best option.

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Why Governance matters

Governance helped trade and commerce shape the world

Simply, Governance is a rules engine that enforces contracts and laws which in return injects trust into markets that require trust – markets like trade and commerce. History has shown us that as trust increases, the amount of trade and commerce increases too.

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The problems with blockchain Governance today

For today’s public blockchains to move past prototypes and low usage dApps – to where entities trust a decentralized blockchain enough to process $10 Million+ of utility-based daily transaction volume – blockchains need an enforceable rules engine that has no centralization of power, that key network participants trust, and that is censorship resistant.


Public blockchains need a democratic and trusted Governance

To shape the future of trade and commerce, blockchains need an enterprise-grade Governance that is trusted, enforceable, and reaches finality in a democratic process.

How Governance Works

"It is much more important to kill bad bills than to pass good ones."

- Calvin Coolidge, 1910

The 10 Principles of Storecoin’s Governance

Storecoin’s Governance takes a system that has been vetted for hundreds of years – the U.S. Constitution – and removes most of the politics by replacing it with technology while also ensuring censorship resistance, absence of collusion, and decentralization of power. 

1 Any $STORE owner can participate in Governance by staking and becoming a dWorker – but they must vote
2 Only one vote per dWorker – no matter the size of their stake (there is no plutocracy) (there is no delegation)
3 Any issue on a ballot will reach finality in a democratic voting process of checks and balances
4 Change is possible through Governance but change is difficult as each dBranch chamber has different incentives
5 Governance enables changes to features, key leadership, and monetary policy – monetary policy is most sacred
6 Only the Judicial Branch can propose Monetary Policy changes for a vote by the dBranch (there is no Fed)
7 The Community has a path to create change – even when not having a vote in Governance (a democracy)
8 To secure the network when it’s at Severe Threat Level, security-level fixes can be made outside of Governance
9 Hard forks can be decided by Governance but any hard fork outside of Governance will be aggressively defended
10 Storecoin can operate forever using a 1% block reward endowment and a +1,000-year Treasury Schedule

Separation of Powers in Storecoin’s Governance

Governance is inspired by the checks and balances of the United States Constitution. Storecoin’s Governance ensures that:

  1. 1) There is no centralization of power for protocol-level changes
  2. 2) Security matters most
  3. 3) Monetary Policy requires Governance approval (there is no Fed)
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How Governance Launches

Storecoin’s one-entity, one-vote governance of checks and balances must be ratified by the dWorkers of Storecoin (i.e. the network’s voters). The Storecoin nonprofit will attempt to ratify the governance after successfully securing its test network (Stone Age), alpha public network (Bronze Age), and beta public network (Iron Age), which is estimated to be between Q42021 and Q42022.

Before formal governance ratification, the Storecoin organization will have authority over all operating decisions. At the same time, it will take advantage of feedback its public peer review network as informal checks and balances mechanism for ideas that have been publicly reviewed. In this way, public peer review acts as a soft governance in advance of ratification.

Organizational Chart of Storecoin’s Governance

Once ratified, Storecoin’s p2p governance will decide all changes to features, leadership, security, and monetary policy.

All individuals leading STORE can be fired and/or impeached, through checks and balances.

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How Checks and Balances Work in Storecoin

Change is possible, Change is democratic, but change is hard. Also, fixing Security breaches can happen outside of a dBranch vote.

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How Governance is Hired(and fired)

Checks and Balances prevent collusion, determine how key leadership is hired and fired, and keep it permissionless for dWorkers to participate (but they must Know Your Voter check with governance to secure a one-entity, one vote democratic governance against Sybil attacks.) Additionally, dWorkers must vote and will be slashed if they do not. Abstaining is a vote. dWorkers will also be rewarded with STORE for every vote they participate in.

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How Committees Work in Governance

Committees review, discuss, and, if needed, modify Change Proposals from all parties except Judicial. If 51% of the committee votes “yes” on a Proposal, then it’s set for a quarterly ballot by Governance. dWorkers can join up to 3 committees maximum, must vote, and there are no committee chairs. The Chief Executive Officer determines the committees for every new Proposal. The result of a committee vote may be to move the Proposal to a new committee. If an approved Proposal is economic or monetary policy-related, it needs Judicial Branch approval before a dBranch vote.

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How Every Storecoin Token Owner Can Create Change

(Democracy)

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How Decentralization Drives Democracy on the Storecoin Blockchain

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The Governance enables any issue to reach finality with consensus

How the dBranch can overrule the non-profit

Simply put, Governance in blockchain limits the centralized power of core developer teams. Storecoin’s Governance spreads influence to the far edges of the network to ensure the core developer team can be overruled via checks and balance that makes change difficult, but possible to achieve.

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How Checks and Balances work for monetary policy

In Storecoin’s Governance, there is no Fed-like body with unilateral decision-making power over monetary policy. Instead, there is a Judicial Branch responsible for the ongoing study of protocol economics. For monetary policy to change, the Judicial Branch must first reach consensus amongst themselves. Then, the Judicial Branch can formally recommend the change for a vote by the dBranch.

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Monetary policy is the most difficult to change in Storecoin’s Governance of checks and balances.

Change in Governance is possible but it becomes more difficult as protocol network effects and Store-of-Value properties grow

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How Approved Changes are Deployed to Storecoin Nodes

All new feature proposals must be accepted through Storecoin’s governance of checks and balances. Under no circumstances will the Storecoin non-profit or other maintainers of the Storecoin software be able to unilaterally decide on pushing software changes. If they refuse to act on accepted changes from Governance, then the Judicial Branch has the power to fire the non-profit leadership, with cause.

Change request flow in Storecoin’s governance process

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The Storecoin nonprofit will attempt to ratify its proposed governance model via a vote from its dWorkers (aka miners), tentatively set to take place between Q42021 and Q42022.

In advance of ratification, Storecoin will build consensus around as well as provide a place for change proposals to its governance model at an annual GovCon event, starting in 2019. Held in San Francisco, research papers will be accepted to extend and improve Storecoin's research around governance, economics, security, and distribution.

The Charter will release in its upcoming Governance Paper

Infrastructure for censorship resistant Governance

How Governance Would Look – if not censorship resistant

The centralized way, using an app hosted by a centralized entity

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How a Censorship Resistant Storecoin Governance Works

The decentralized way with a dApp hosted by Govnodes worldwide

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dWorkers have a consumer-friendly dApp to study new Change Proposals, discuss, debate, and then vote

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Ongoing Research in Governance

  • Launching an annual conference for Storecoin’s governance
  • The decentralized process of electing Storecoin’s first Executive Director, Chief Security Officer, and Judicial Branch members
  • Completely eliminating the threat of collusion in governance through technologies like zkSNARKs for Govnodes
  • Architecture for how Storecoin’s Govnode technology can become Platform APIs for both apps and dApps to have their own checks and balances governance
  • How Storecoin’s checks and balances-type of governance could bring a decentralized democracy to a centralized global company like Facebook

How Storecoin incentivizes adoption

Storecoin’s Path to Early Adoption

Storecoin will succeed by convincing web and mobile application developers to incentivize their users to get paid $STORE tokens for taking key actions inside of their apps (paid API calls).

Then, to accept $STORE for in-app payments.

Storecoin will become the native, zero-fee cryptocurrency for one of the as-yet-uncompleted pillars of internet activity: HTTP status code 402 - payment required. The 402 status code is reserved for the internet browser to one day natively send and receive digital cash or micropayments.

We call this architecture for the internet WebC – a zero-fee and crypto-powered approach to native payments infrastructure for the internet.

WebC Simply Explained – a crypto-powered internet

An overview of the zero-fee, $STORE cryptocurrency enhanced internet that can unlock huge categories of native web innovation and commerce

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The Network Effects of Storecoin and Trust

All money is trust, cryptocurrency included. Money works as a medium of exchange because people believe in it. If it won’t be accepted in a transaction, then it has no value. For cryptocurrency to develop trust, it needs to be used by people. TheWallet attempts to solve trust for the Storecoin cryptocurrency.

Tools and Utilities will bring zero-fee, p2p STORE payments to the internet and beyond.

Tools will be released as both hosted versions and self-hosted versions for end user full control over privacy and security.

#1
Vault: A tool to ensure security and privacy of keys owned by STORE owners. Vault allows secure key management & key restoration for end users.
#2
Manager: Tools for STORE owners to secure transactions on the Storecoin blockchain by staking STORE as miners and performing decentralized work.
#3
Wallet: A secure wallet to send and receive STORE by address or email.
#4
Developer: Developer APIs to build zero-fee powered mobile and web apps with STORE. Developers can pay users STORE for taking key actions in their apps and can save 2.5%-3% for accepting STORE.
#5
Merchant: Tools for merchants, developers, and more to sell products and services with STORE, enabling them to save 2.5%-3% on every transaction.
#6
Connect: Platform APIs for third party developers to securely enable users to access their wallet and send STORE inside their apps. Connect securely bridges a STORE wallet, a third party app, and an end user.
NOTE: To help build STORE ecosystem tools or for your tool(s) to help the STORE ecosystem, email [email protected] to begin the conversation.

How trust in $STORE grows $STORE into new environments

(into new platforms for programmable money)

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What apps can benefit from Storecoin’s WebC?

Any app that needs to grow its user base faster, accelerate the adoption of key user actions, and introduce payments with zero fees will benefit by developing on top of the Storecoin blockchain.

Where Storecoin will get adoption

  • Apps where sign up is a key user action
  • Apps where successful onboarding is a key user action
  • Apps where inviting other users is key to user growth
  • Apps with a need for micropayments
  • Enterprise apps solving specific use cases like scheduling and e-signatures
  • User-generated content and editing sites
  • Consumer social networks
  • Enterprise messaging apps
  • Enterprise ERP systems
  • Social games

How ecosystem partners help Storecoin grow

The Storecoin Developer Ecosystem

A coalition of organizations that have entered into long-term relationships with Storecoin as its exclusive cryptocurrency to be integrated into enterprise and consumer-facing apps.

The Storecoin Ecosystem Fund

Storecoin’s Ecosystem Fund will make equity-based investments into application-based companies that may be early Storecoin developers. From Storecoin’s 33% Incentivization Pool, developers will also be awarded STORE tokens to kickstart their Wallet networks. Storecoin can also airdrop tokens into the Wallets of users from its ecosystem funded companies, further growing the use of STORE.

Storecoin Project Schedule

Storecoin is an ambitious and long-range p2p project currently in R&D.

We’ll make available up to six regulatory-compliant token events only as key milestones are achieved. You can see an updated list of all key milestones at http://storeco.in/milestones.

Storecoin is committed to Doing The Right Thing as the blockchain is researched, built, and funded.

2017
May
May

1Storecoin R&D begins

  • Blockchain Architect added
  • Early engineering team added
  • R&D begins
  • Green Paper is started
  • Amazon funds Storecoin R&D with AWS credits
August 2017
August 2017

2FIRST TOKEN EVENT
(7% OF TREASURY)

  • Viable testing network set-up
  • Storecoin Green Paper is released
  • Scalability testing begins
  • Security testing begins
December 2017
December 2017

3SECOND TOKEN EVENT
(4% OF TREASURY)

  • Orange Paper released
  • The BlockFin consensus algorithm is released for internal R&D
  • Storecoin Roadmap Announced
  • Pomelo Paper released
  • Governance Peer Review started
2018
Q1
Q1 2019

4THIRD TOKEN EVENT
(2% - 3% OF TREASURY)

  • Economics Paper released for peer review
  • BlockFin alpha network released for peer review
  • Open Source Development begins
  • Storecoin Wallets grow to +5,000
Note: Storecoin is still executing these milestones
2019
Q1
2019 - 2020

5FOURTH TOKEN EVENT
(2% - 3% OF TREASURY)

  • Storecoin v1 Test Network released
  • Security Paper released for peer review
  • Consensus Paper released for peer review
Q1

6FIFTH TO SIXTH TOKEN EVENT
TO-BE-DETERMINED

Join the Storecoin Community, Earn a Tee-Shirt

Start at http://storeco.in/community

Join our Peer Review Working Group for Governance

https://storeco.in/govreview

Run a Storecoin meet-up in your city

https://storeco.in/pioneer

Storecoin: Student Ambassador Program

https://storeco.in/student

Build your app on top of Storecoin

http://storeco.in/developer

Contribute Code to the Storecoin project

http://storeco.in/code

Peer Review upcoming Research

http://storeco.in/review

Help Validate the future Storecoin Blockchain

Apply at http://storeco.in/validate

Become a dGuard to keep Storecoin secure

Apply at http://storeco.in/dguard

Host eAgent Masternodes to scale Storecoin

Apply at http://storeco.in/masternode

Run a Messagenode to host the blockchain

Apply at http://storeco.in/messagenode

Run a Govnode on your phone to host Governance

Apply at http://storeco.in/govnode

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KYC/AML checks are required for securities law compliance. This will be a Reg D and Reg S global offering.

DISCLAIMER

Nothing herein is intended to be an offer to sell or solicitation of offer to buy, Storecoin tokens or rights to receive Storecoin tokens in the future. In the event that Storecoin conducts an offering of Storecoin tokens (or rights to receive Storecoin tokens in the future), Storecoin will do so in compliance with all applicable laws which may include the Securities Act of 1933 and the rules and regulations promulgated thereunder, as well as applicable state and foreign law. Any offering for sale to US Persons in a regulated transaction will be pursuant to a registration statement qualified by the Securities and Exchange Commission, or an applicable exemption from the registration requirements.

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