Storecoin (STORE) MTO
OngoingApr 17, 2019 – Aug 30, 2019
Storecoin is a zero-fee payments and p2p cloud computing public blockchain that will transform data into money (into datacoins).
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What is Storecoin
The Storecoin project is laser-focused first on securing its zero-fee settlement layer. Our team is researching and building this scalable and decentralized zero-fee payments infrastructure now.
As security with scalability is proven, Storecoin will open up miner (dWorker) participation to anyone in the world. From there, the secure settlement layer can evolve into a p2p cloud platform for the decentralization of data and the creation of new, zero-fee tokenized apps (tApps).
Our Platform Vision: Zero-fee, p2p cloud computing (with datacoins)
When third parties like Google want to crawl, query, and access the data, they’ll pay the token representing the data (a datacoin) back to the miners securing and storing it. Also, to the developers who acquire, structure, and label the data so that it’s valuable to third parties – especially machine learning and AI-driven organizations. App developers can then optionally (and finally) pay users for their own data.
Tokenized and open data can limit the control data monopolies have on future innovation while ushering in a new era of computing. It’s how information can finally be set free.
How Storecoin’s zero-fee, p2p cloud computing will work
To usher in this new era of p2p computing through tokenized data, in its Industrial Phase, Storecoin's zero-fee settlement layer transforms into a zero-fee, p2p cloud computing platform that allows valuable web and mobile applications to decentralize their data on top of the Storecoin public blockchain. In exchange for decentralizing their app data, developers gain the right to mint their own cryptographic tokens, called datacoins, where the tokens are representations of the application data that has been decentralized.
We call this zero-fee, p2p cloud computing because developers, if approved through governance by the dWorkers, will not have any direct capital cost to run infrastructure to host their apps. If dWorkers collectively agree to accept their datacoins as a currency in exchange for zero-fee compute, the datacoins would have a monetary premium and the developers would not have to pay AWS or other cloudproviders for compute and storage. Instead, Storecoin dWorkers offer that service making dWorkers collectively a new type of decentralized AWS.
When third parties like Google want to crawl, query, or access data, they must pay the inflationary datacoin back to the developer thus giving the data another monetary premium. If receiving zero-fee cloud computing resources, developers will share 30% of datacoin revenue with dWorkers. Developers can then optionally share datacoin revenue with users.
Developers will facilitate the marketplace for their data but dWorkers can negotiate bulk network-wide deals with larger buyers. The Storecoin tokenized and open data economy will be facilitated through smart contracts.
DetailsPublic sales: Apr 17, 2019 - Aug 30, 2019
Token supply: 310,000,000 STORE
Total tokens for sale: 50,000,000 STORE
Soft cap: 4,970,000 USD
Hard cap: 4,970,000 USD
LegalBlockchain Platform: Separate blockchain
Registration country: United States
Registration year: 2017
Token infoTicker: STORE
Token price in USD: 1 STORE = 0.139-0.179 USD
Accepted currencies: USD, Wire, BTC, ETH
There are three sale phases: $0.129, $0.149, and $0.169. Each sale phase will be offered on a first-registered and first-funded basis. Once a phase is fully registered and funded, the next phase will open up and be offered to the next registered buyer.
34% - Sold in up to six milestone-based token sales, Governance can modify the Treasury Plan/Use
46% - Allocated to the non-profit for incentivizing growth of the $STORE ecosystem, dWorker adoprion, team, and more - emits in the 100 years
10% - Locked up in a long-term emission schedule giving the non-profit access to genesis block Treasury to grow $STORE adoption - emits over 1000 years
10% - Founding inflationary block rewards to pay for Storecoin security, governance, distribution, and more. Once the funds ends, up to 20MM new $STORE will be added to the total authorized supply each year
40% - Engineering
20% - Security
10% - Governance Community
10% - Operations
10% - Sales & Marketing
5% - Legal & Finance
5% - Community
Research on algorithms for BlockFin, Storecoin’s fork-tolerant, decentralized, leaderless BFT consensus engine.
Research and develop economic, governance, and security models for Storecoin DyPoS.
Prototype first version DyPoS on top of Tendermint. Prepare tests to measure baseline consensus efficiency.
Release BlockFin whitepaper for internal review. DyPoS burst-mode consensus efficiency of 10.2K txs/sec in a 21-node setup. Start data modeling and design of core BlockFin consensus engine.
Prototype p2p secure data store. Model economic incentives for BlockFin. Create GitHub projects for open-source contributions from development community.
Build security model for p2p data store. Test p2p data store for resilience and throughput in a (up to) 220 node network. Evaluate wallet partners. Design Storecoin Staking Manager interface on top of wallets. Build BlockFin simulator to prove correctness of the algorithm. Design Storecoin’s “Governance to Deployment” process to deploy the proposals approved by governance.
Write BlockFin technical whitepaper describing Asynchronous Reliable Broadcast (ARB) algorithm. Research on zero-fee tokenized app platform that allows any centralized app to decentralize their data in exchange for the right to mint their own cryptographic tokens.
Implement BlockFin consensus algorithm. Create a test instance that demonstrates the consensus phases and proves correctness of the algorithm.
Integrate BlockFin consensus algorithm with secure, authenticated p2p core. Initiate security audit of both p2p core and BlockFin consensus algorithm implementations.
Implement Storecoin wallet and vault infrastructure. Start “Know Your Voter” miner self-verification and staking process. Prepare for Storecoin Testnet (Stone-Age release) launch. Prepare for BlockFin whitepaper public review.
Public launch of Stone-Age release. Iterate through multiple releases to test various launch scenarios and genesis behaviors. Smooth out the wrinkles in the network launch process.
Fix bugs and security vulnerabilities discovered in the Testnet release. Audit the code with a third party auditing service. Finalize genesis miner set for the Mainnet through a public auction. Prepare to launch the Storecoin Mainnet in an alpha release (Bronze-Age).
Public launch of Bronze-Age release with 50 Validators and 22 Messagenodes. To ensure liveness and make it harder to attack on the consensus, 17 standby Validators and 7 standby Messagenodes are also deployed.
Prepare to incrementally add more Validators and Messagenodes to the Storecoin network to improve both scalability and decentralization.
Launch beta (Iron-Age) network with 61 Validators, 55 Messagenodes, 21 standby Validators, and 18 standby Messagenodes.
Launch the Storecoin production network (Discovery) with 109 Validators, 55 Messagenodes, 37 standby Validators, and 18 standby Messagenodes.
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