STORE Community Update - October 2021
The Engineering team makes big strides on BlockFin, STORE's novel Dynamic Proof-of-Stake (DPoS) consensus algorithm
It’s full steam ahead here at Store. October capped off another month of progress with exciting news surrounding BlockFinBFT, among other things. Follow below the break to see what we were working on!
The Latest on the Swiss Foundation
Coming into October, we had identified a number of potential banking partners in Switzerland, a vital relationship necessary to launch the Store Foundation. The pool of crypto-friendly Swiss banks is relatively small and throughout the month, our team worked alongside the Swiss Consulate to begin engaging these banks to determine application requirements and detail the process.
While the process of establishing these relationships may seem arduous, it is important to note that each step for this process doubles as a deliverable we’re going to need in order to work with major global financial institutions.
BlockFin Hits GitHub… and More!
It was an especially busy month on the engineering front with an important milestone being reached: Active development began on the BlockFinBFT consensus algorithm.
As we continue to ramp up the development of both BlockFin and the Storecloud, we are preparing to begin significantly expanding the development teams working on both projects. Through the creation of internal systems meant to expand and accelerate the product development process, new developers will be able to quickly be onboarded to the project.
Additionally, a final technical review of internal documentation was initiated before it is made public and the first version of a governance app wire process was completed.
Building through Research
A major research project reached an exciting milestone as an algorithm for state-of-connection, a trust-minimized compute primitive, was completed. Testing regarding state-of-connection will continue as we work to finalize our research and release a formal paper.
Our team also launched new research into exploring the virtualization of Ethereum and studying the effects on performance.
Finally, an on-chain computing environment was initiated to determine economic incentives that impact costs. From this, our team will develop models used to shape costs and pricing on the Store network.
As we head towards the end of the year, all of our team’s efforts are directed towards setting up the Swiss Foundation and the development of both BlockfinBFT and the Storecloud. Please join us in our official Telegram for weekly updates are we work towards our goal of launching the Governance Testnet. Thank you for being a part of the journey!