//STORE enables these computing, economic, and governance primitives

Zero-fee settlement-layer enables

Zero-fee, peer-to-peer value transfer

Fast transactions

Scalable transactions

Democratic and 2/3 censorship resistant governance (one entity, one vote)

Tokenized Data enables

Data to be open and tradable

Data to be programmable by third party apps and devices

Data to have a monetary premium (like $STORE, $BTC, $ETH, $EOS, and gold)

Datacoin revenue to be shared with users, citizens, more

…which enables these high-level use cases

Zero-fee settlement-layer enabled

Tokenized data enabled (p2p cloud)

High-level Use Cases

Fast, zero-fee, programmable payments for the public internet

Voting on the global rules of a decentralized, zero-fee digital asset

Zero-fee, 2/3 censorship resistant value transfer of data as a digital asset

Voting on the global rules of decentralized, open, and programmable data

A web2 app developer opening APIs for other developers to build with (for $STORE)

An IoT device developer live streaming datasets for anyone to access (for $STORE)

A health care system making a prized and rare dataset available (for $STORE)

An autonomous car or drone opening its ML-ready, live data streams (for $STORE)

A local government streaming IoT device data for anyone to access (for $STORE)

SUBMIT AN INDUSTRY USE CASE TO EARN $STORE

(If we publish, we’ll award you with 100,000 $STORE – enough to compete in founding mining auctions.)

While STORE transactions are zero-fee for both end users and developers, if STORE is initially deployed as n ERC20 token on Ethereum, applicable gas fees apply on Ethereum. All settlement transactions on Ethereum incur gas fees. When the ERC20 STORE tokens are swapped with native STORE token tokens, transactions will be settled on the STORE network and at that time, zero-fee transactions are resumed.

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December 1, 2018 . 5 min read

STORE’s Creator Describes Route to Birth of Zero-Fee Payments System

In 2013–’14, I was convinced BTC would be used as an in-app, censorship-resistant, API-driven new currency.

I even tried to build a complex, API-based payment network for it. It didn’t work. Finally, I accepted Bitcoin’s limitations as “p2p e-cash.”

Then I met Vitalik Buterin, Anthony Di Orio and the Ethereum Foundation.

Didn't quite understand how you could "print new money" on top of new, speculative money. I was a contrarian here as my SV "platform" friends ❤️'d it.
— Chris McCoy (@chrisamccoy) August 27, 2018

Instead of building on Ethereum, I took a bet and put some BTC into the pre-sale. Then, left the crypto space (out of frustration with Bitcoin).

Jumped back in when I realized zero-fee, in-app, API-based, and censorship resistant payments still was a problem needing a solution.
— Chris McCoy (@chrisamccoy) August 27, 2018

At the time, was building a newco:
HQ-to-Location chat for franchise and chain stores.

Saw two things:
1) Stores hated the 2.5%-3.5% transaction fee from traditional payment rails
2) The ~4% fee that locations pay HQ as part of the franchise agreement could be a smart contract
— Chris McCoy (@chrisamccoy) August 27, 2018

* that's ~4% of every single transaction at the cash register.

Studied the Ethereum dApp ecosystem. Realized that "gas" was an economic primitive for gamified banks -- not a world computer.

Bitcoin was on its way to becoming joule-backed digital gold.
— Chris McCoy (@chrisamccoy) August 27, 2018

As I went deeper into research, it was clear "the smart contract wars" were about to start.

Still didn't buy into new money being created on top of new, speculative money.

And there were no plausible zero-fee models for the merchant (or app developer).
— Chris McCoy (@chrisamccoy) August 27, 2018

After coming out of a 3-month research cave, realized that Inflationary rewards could incentivize a p2p consensus to not only validate transactions but secure, govern, and scale them as well.

Along the way, we spun out @storecoin as a new blockchain for franchise _ chain stores.
— Chris McCoy (@chrisamccoy) August 27, 2018

As our research evolved, we realized that we were solving a much larger problem than zero-fee payments for the franchise and chain store vertical.

We were building zero-fee, p2p, highly programmable payments infrastructure for the centralized internet (apps not dApps).
— Chris McCoy (@chrisamccoy) August 27, 2018

We're making progress 24/7 with a team spread around the world. Still early but we're shipping on the technology, security, community, treasury management, legal, and ecosystem fronts daily. https://t.co/8lB4cG21Bl
— Chris McCoy (@chrisamccoy) August 27, 2018

More on WebC -- or the zero-fee crypto-powered web https://t.co/IRfevUBBKC
— Chris McCoy (@chrisamccoy) August 27, 2018

Here's a look at the WebC Stack currently being researched and built @storecoin. pic.twitter.com/jyGBFhGv9E
— Chris McCoy (@chrisamccoy) August 29, 2018

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About STORE

STORE is zero-fee, p2p cloud that will transform data into open, tradable, and programmable money called datacoins. Governed by a 2/3 fault tolerant democracy (1e1v).

STORE’s Creator Describes Route to Birth of Zero-Fee Payments System

In 2013–’14, I was convinced BTC would be used as an in-app, censorship-resistant, API-driven new currency.

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