STORE Community Update - May 2022
Project updates including the initial launch of STORE Oracle, the API suite that ties together all STORE products.
Despite the general macro uncertainty, our team at STORE has been grinding throughout the month of May and has made massive strides in the design and development phase of STORE Chain, STORE Cloud, and STORE’s Governance.
Let’s take a look at some milestones hit this past month and goals moving forward.
STORE Oracle has Shipped
STORE has shipped STORE Oracle, a massive step forward in STORE’s approach to developing a platform with over 500 composable, incentivized, inter-operating, and governed APIs to build on. In tactical terms, the APIs UI is complete, and the team has moved to UX while finalizing how to integrate the APIs into economics.
We are seeing our Oracle-first approach start to pay off in R&D in substantial ways, as it’s letting us build Store Cloud, Store Chain, Store Governance, and Store Explorer in parallel.
With the STORE-secured Governance Oracle, STORE Governance will be public, auditable, and programmable API. From here, apps can build with STORE Governance primitives and other protocols can even “borrow” them. It’s how STORE Democracy expands from the STORE protocol into the world.
Dynamic Proof of Stake Surge Breakthroughs
We’ve had a number of breakthroughs recently surrounding STORE’s novel, state-dependent Dynamic Proof of Stake consensus algorithm. With Surge fees kicking in at times of heavy network congestion, Dynamic Proof of Stake allows STORE to operate as a zero-fee protocol, while also having mechanisms in place to prevent spam from overloading the network.
From the STORE Explorer, you’ll be able to view each component of the DPOS system as its own micro computing system which combine to incentivize the STORE protocol and govern both on-chain and off-chain computing resources:
- $STORE price
- Security Budget
- Surge Fees
- Cost of Compute
- Cost to Attack
- DDoS Protection
This is a massive step forward for not just the security of the STORE protocol, but also to linking economic incentives with network stability.
The Capex is Key
The upcoming summer capex, which is necessary to move STORE to Liechtenstein and open the international foundation, is critical to the future of STORE. Doing so while engaged in a capex Despite unfavorable market conditions and investors generally being more cautious, we’ve had a number of inbound requests regarding the upcoming capex. This is because STORE is grounded in research and product.
We’ve recently released a new deck covering all aspects of STORE in anticipation of the capex. Please send any questions or comments to store@storecloud.org.
Chris is heading to Consensus 2022 in Austin, TX this week with the primary objective of syncing up with several institutional investors. If you are attending and would like to meet up, let us know in Telegram!