The project aims to bring scalable, decentralized, and programmable zero-fee payments infrastructure to the public internet and beyond.
Coordinated by a one-entity, one-vote governance of checks and balances, STORE aims to become the internet's reserve, zero-fee cryptocurrency.
KYC/AML checks are required for securities law compliance. This will be a Reg D and Reg S global offering.
Description: Zero-fee internet money
Storecoin is incentivized to be both a global store-of-value ($100+ Trillion market) and a global, zero-fee medium of exchange that can challenge VISA-like networks and beyond ($21+ Trillion market).
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.
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.
Storecoin’s leader-free, BFT consensus algorithm BlockFin, validates blocks in a pipelined process.
BlockFin is a two-tier network of Validator nodes and Messagenodes, each with specific roles, assemble and validate blocks using a cryptographically secure process. At launch, we expect 5,000+ transactions per second and for throughput to increase as transaction demand increases.
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.
We have been thinking very long-term about the potential for zero fee, programmable payments.
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.@chrisamccoy
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).
10 years modeling economics for hedge funds, internet startups, and blockchains.
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.
CIO at BlockTower Capital, angel investor, former PM for the UChicago endowment.@AriDavidPaul
Finance professor at University of Oregon studying cryptoassets, security issuance, private equity, and M&A.@sbmckeon
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@natelubin
Former Facebook software engineer studying privacy and cryptocurrency architectures with properties that scale
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.@markramberg
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).@antonejohnson
Focuses on novel issues presented by developing technology including Blockchain (distributed ledger), artificial intelligence, robotics, virtual/augmented reality and internet of things.@JLawlerCal
View Storecoin's milestones across tech, governance, community, and more at http://storeco.in/milestones
|Jan 2019||The governance peer review mailing list grows to 65+; Storecoin joins the Messari registry||Link|
|Dec 2018||Storecoin releases first version of research for its tokenized app platform and p2p compute engine||Link|
|Nov 2018||Storecoin releases its governance of checks and balances for public peer review||Link|
|Oct 2018||First version of the Storecoin Wallet is released||Link|
|Aug 2018||Community members are wearing $STORE tees in 56+ countries and our Telegram grows to 2,000+||Link|
|Jul 2018||Storecoin releases a new inflation plan to be in alignment with sound money of gold and BTC||Link|
|Jun 2018||Testing on BlockFin grows to 220 validator nodes and 40 message nodes||Link|
|Apr 2018||Storecoin’s consensus engine BlockFin becomes patent pending as to prevent malicious hard forks||Link|
|Mar 2018||Storecoin pushes the Tendermint consensus to 169,00 transactions per second with 8 nodes||Link|
|Jan 2018||Storecoin’s second milestone-based sale ends, adding 200+ wallets and $1.3 MM of Treasury||Link|
*For live networks, decentralization is based on current status, not future goals*Inspired by research from Tom Shaughnessy and 51pct.io
*View data used in the graphic at http://storeco.in/compare
Learn More about our ideas in the sections below or join the discussion.
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.