Frequently Asked Questions
Here are some common questions about Stash
STASHPAY.IO is a next generation open source cryptographic software also known as cryptocurrency built on proven blockchain technology with leading edge privacy, transaction speed, budgeting, capacity and governance features.
STASHPAY.IO in now complete with the network, mining, Incentivized nodes, the budgeting system and governance all ready to be activated. STASHPAY.IO has also integrated a superior transaction privacy feature by implementing a novel form of zero knowledge cryptography called zk-SNARKs.
What are the main features of STASHPAY.IO?STASHPAY.IO is built on proven blockchain technology with leading edge privacy. The software integrates libsnark a C++ library for zkSNARK proofs in order to facilitate shielded transaction which allows users to hide the transactions amount, origin and destination. STASHPAY.IO also allows users to run iNodes that provide a minimum level of service to the network in the form of computing power and storage. iNodes also allow users to send instant transactions using StashSwift. Additionally, STASHPAY.IO provides the ability to scale quickly by having the capability to increase the networks block size up to 20MB. Furthermore, the budgeting system provides the network with resources that can be used to continue development.
iNodes are essentially a 2nd tier network of dedicated servers that provide many features which are not available on conventional blockchains such as Bitcoin. These servers provide a minimum level of service and enable such features as StashSwift which allows for instant transactions. In STASHPAY.IO iNodes also facilitate the networks governance and budgeting functions.
Anyone wishing to run iNodes will require 10,000 STASH for every iNode they want to run.
Zk-Snarks stands for Zero-Knowledge Succinct Non-Interactive Argument of Knowledge. It is a form zero knowledge cryptography. Zk-Snarks essentially works on what is known as zero-knowledge proofs. The idea of zero-knowledge proofs originally comes from several MIT researchers back in the 1980s. Zero-knowledge proofs means that between two parties of a transaction, each party can verify to the other that they have a specific set of information but without revealing what that information is. This is very different than other proof systems where at least one party needs to know all the information. STASHPAY.IO uses zk-SNARKs to prove that the conditions for a valid transaction have been satisfied without revealing any critical information about the values or addresses involved.
STASHPAY.IO is based on the Proof of Work (POW) consensus mechanisms.
Proof of work is a requirement to define an expensive computer calculation also known as mining. A reward is given to the first miner who solves each block problem. Miners on the network compete to be the first to find a solutions for the mathematical problem.
Mining serves two core purposes. The first is to verify that transactions are legitimate and therefore avoid what’s called double spending. The second is to reward miners with cryptocurrency for verifying transactions.
Yes, at the end of its development stage, Stash Labs will be releasing the STASHPAY.IO Software it has developed under an open source MIT software license.
You can join the STASHPAY discussion on our Telegram channel. https://t.me/stash_pay This is a great place to interact with the community and get questions answered that you may have about STASH.