$STORE Community Update — July 2022
STORE Chain is live as zero-fee blockspace comes into focus, plus additional updates.
STORE Alpha Chain Goes Live
Through team perseverance, your support, and our inventions, we’ve exceeded our own initial expectations and have built both a high-performance cloud and the foundations of a decentralized democracy to support the emergence of the STORE Chain, which is now producing blocks and finalizing transactions on an alpha network. You can see the high-speed, zero-fee blockchain in action here:
Our focus has been on developing an unmatched API system, and we see that in the alpha testing is the deployment of that design. This infrastructure is connected through a network of 250+ composable APIs that give STORE its intelligence, economics, security, governance, and sound monetary policy. Working with partners, STORE has moved to the next phase, developing the accompanying tools (e.g. STORE Explorer). The third phase will link different aspects of STORE (governance, economics, and the protocol) with the API system.
Building Through Research
We’re almost through a massive R&D project in pricing perpetual storage resources. Once through, we advance the next phase of Dynamic Proof-of-Stake and can begin to integrate the economic algorithm into Store Chain.
Additionally, experiments subsidizing perpetual storage resources in exchange for Store-branded on STORE-powered NFTs are ongoing.
We’re starting to give live demos of STORE and they are going exceptionally well. From showing how Store Chain and Store Cloud work together to how governance coordinates the rules of the protocol to how one-click NFT storage, issuance, and governance will work, we are gaining the right kind of momentum needed to succeed in this next phase of the project.
Continuing to Innovate
STORE’s innovations have reached invention-level work. Through commitment to system design, we’ve advanced novel ideas across consensus, economics, and governance; Core issues that have, for the most part, been skipped by many other layer-1 projects in a rush to production.
STORE’s ability to execute a First Governance illustrates system design from theory to practice, to roadmap. The concept of First Governance was part of the initial design to make the earliest stages of the project decentralized. By executing votes, decentralized governance has already begun and the practice voter registration, voting, and record keeping has been captured into a ledger and is being prepared as part of the product demos. Once the STORE protocol is live, the entire system is ready to move on-chain with record keeping going back to the mechanical turk stage of emails used initially.
It’s our time to accelerate, push through the wreckage, and position the project to list in 2023. We have a genuine opportunity to introduce new zero-fee blockspace into Web3, power it with a high-performance cloud, and govern it with democracy. To advance with momentum, we’re going to need your continued support.
