Stor Network Greenpaper
Contents
1. Introduction
1.1. Environmental impact of PoW
1.2. From PoW to PoS to PoST
1.3. Green farming
2. Stor Network
2.1. Why Stor and not only Chia
2.2. What is different about Stor
2.3. STOR issuance schedule
2.4. Stor adoption by SMEs
2.5. Stor ecosystem
2.6. Services and partnerships
1. Introduction
1.1. Environmental impact of PoW
In year 2021 Bitcoin became a part of nearly everyone’s life, whilst performing a seemingly irreversible monetary revolution. Bitcoin network sure can provide great processing power and stability.
Sadly the power requirements of Bitcoin dedicated mining hardware grow higher with every day. Most countries don’t have their electrical supply chain developed enough to keep Bitcoin scaling, while preserving the decentralization, therefore safety.
1.2. From PoW to PoS to PoST
While PoS might seem like a reasonable future replacement of PoW, there is a major flaw in its consensus. A 51% attack can occur much easier when there’s no physical equipment needed to gain leverage in PoS blockchain. Once it happens, there’s no way to get any power back, therefore the whole blockchain technically gets owned by the majority holder.
Luckily there is another, whole new consensus algorithm called PoST – Proof of Space and Time. PoST blockchain uses hard drive storage to encrypt blocks of transactions and an additional layer of verification through VDFs generated by Timelords. This leads to overall higher decentralisation and significantly lower power requirements per transaction. PoST blockchain also supports smart contracts while keeping the simple and fast UTXO model.
1.3. Green farming
Without any noise or heavy machinery, anyone can farm PoST cryptocurrencies at home. Even a petabyte of storage won’t by far need the amount of power needed for just 1 Th/s on Bitcoin. Also, hard drives can always be repurposed or simultaneously used for smaller backups. You choose how much space you want to use for farming.
2. Stor Network
2.1. Why Stor and not only Chia
Probably the most interesting feature of PoST blockchain is that a farmer can use the same plot files in parallel across multiple blockchains. For example, if you are already farming Chia, you can simultaneously farm Stor as well.
2.2. What is different about Stor
Stor has no political or corporate background and is not planning on changing it. All Stor software is developed and maintained by community. Starting block reward has been increased from 2 to 4 STOR coins. Halving periods on the other side, have been shortened from 3 years to 2 years, which in theory, should make the network growth faster and gain more stability and higher rewards for early adopters. After the final halving, the inflation rate falls through 0.39%. See the Stor issuance schedule below.
2.3. STOR issuance schedule
EOY 1 is End of Year 1