StashPay – Combines Many Innovative Blockchain Technologies

What will you get if all cryptocurrencies’s features combined together. This is what StashPay will do. This digital currency offers what bitcoin does not have: fast transaction, strong privacy, self-governance, self-funding, and large capacity of transactions. Yes, Dash provides all of it, except strong privacy to keep your finance activity secret. Zcash provides strong privacy, but not of speed, self governance and self funding.

StashPay is promising more speed of transaction instantaneously by applying the StashSwift technology. According to the whitepaper, this done by implementing 150 second block times and a second-tier iNode structure that is capable of supporting up to 20 megabyte blocks. StashPay provides 80 time Bitcoin transaction capacity. As a result, ensures transactions fees are kept low.

Self-governance is the governance solution that Stashpay software uses to allow for quick decision making in a decentralized network. Rather than debating options and decision possibilities, self-governance provides rules which allow for quick resolutions. Taking Bitcoin as an example, a debate on this network regarding the size of an individual block has taken years to resolve. While inthe StashPay software, such a question can be voted on and put to rest in a matter of hours.The result is a far more efficient network.

The self-governance system also requires proposals to be put forward to the network as a whole, and then voted on. In practice, this means that iNodes are able to cast a vote on important changes to the system or network, and, as no one can assume control of too many iNodes, dominance of the vote is not possible.

The self-funding actually is part of the self-governance system. This is the way in which block rewards are utilized to provide ongoing funding to the network. For each block that is mined, the miner receives 45% of the reward, while the iNode receives another 45%, which leaves 10% remaining. This 10% is not created until the end of the month. During the month, anyone can make a budget proposal, which is voted on by the network.

At the end of the month Treasury blocks are created and if 10% of iNodes vote for any proposal then that proposal is approved. If no proposals are approved or the 10% reward amount is more than needed to cover the cost of the proposal, the reward goes to the treasury and is available for funding future proposals.

This system allows the network to fund itself and also provides the opportunity to build up assets in the form of STASHPAY.IO tokens which can be used to fund futureas well as potentially larger proposals.

Zero-knowledge security layer

For a blockchain software network to function properly, there must be a structure in place; a transaction must undergo certain proofs before it can be verified. In the case of Bitcoin, a transaction will be validated after the following three items have been proved: First, Bitcoins being used have not been spent by the sender previously. The sender does not need to take any action to show that this is the case as this is ascertained simply by examining the ledger.

Secondly, the sender has the necessary authority to send the coins to the value agreed upon in thetransaction. This is validated by signing the transaction with the secret key which relates to the address where the coins are being sent from.

Third, the transaction is balanced in terms of coins inputted and coins taken out. This should be evident from the transaction, as the amount being transferred is known to all parties.

StashPay will use a form of zero-knowledge proofs known as zk-SNARKs to prove the above points without revealing any additional information. When each transaction is validated, there also exists a zk-SNARK which can be used to show that STASHPAY.IO tokens exist and have not been spent, the sender has the authority to send the STASHPAY.IO tokens, the amount of STASHPAY.IO tokens sent equals to the amount of STASHPAY.IO tokens received.

During this process, the information required for spending STASHPAY.IO tokens is attached to the transaction by creating a new zk-SNARK and is encrypted using the recipients public key which can only be used by the transaction recipient.

The ICO

Regarding the change of ICO climate today, the ICO mechanism is completely different. For StashPay’s ICO the US dan Chinese citizens are now allowed to get into. The pre-sale starts in September, 24 at 11:00 PM UTC. You will get 1 STP for 0.10 USD. The second round of presale will be held in October, 8. And the token sale is in October 22.

Stash Token Crowdsale Detail                          

Token Name: Stash Token
Token Symbol: STP
Token Base: Ethereum
Crowdsale Start: October 22, 2017
Crowdsale End: Nov 19, 2017
Price: 0.1$ = 1 STP
WebsiteWhitepaperAnnouncement

 


Note : This is a paid press release please read here – Press Release

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