INFO FROM STASH TEAM:Dear Stash Community
We are pleased to announce the release of Stash Core version 0.15.0.0 which is the result of 6 months’ worth of work by the Stash Team. This latest version introduces many new features that are to long to list here however the core updates include:
• Deterministic Masternodes
• Long living Masternode Quorums (LLMQ)
• LLMQ based ChainLocks
• LLMQ-based Automatic InstantSend
• Backports and bug fixes from Dash, Zcash and Bitcoin
• Bug fixes/performance improvements
For those interested in seeing and reviewing all of the new updates and technical changes, can do so here:
https://github.com/stashpayio/stash/releasesPlease note that at this point this update is being released on the testnet only as a beta version given the large number of changes and complexity around it.
The original goal of Stash was to create a next generation cryptocurrency that would improve on Bitcoin by providing increased transaction capacity, faster transaction speeds and lower transactions fees as well as state of the art privacy through the use of shielded transactions using zk-snarks. With the latest release of Stash Core 0.15.0.0, we believe we have achieved all these goals.
However, since we started the Stash project the crypto landscape has changed significantly with many crypto projects failing to make any significant traction in terms of getting a commercially viable product to market. Crypto markets have now to a large extent come to realize that most of these projects will never be commercial.
Unfortunately, at Stash, we have also struggled to find a way to make Stash commercial and useful. While we have continued to work on improving the Stash blockchain technology there has been very little interest and uptake from users in using Stash as a form of payment either in a transparent or shielded capacity.
While we concede that our marketing and communication could have been better, we have been reluctant and unwilling to just hype the project for the sake of pumping the Stash price. Our view has always been that if we built a good product that is useful then demand for it would naturally follow and the project would thrive. While we believe that the Stash blockchain technology is strong and that the technical team members have done an excellent job of building the blockchain, sadly the use case, utility and user demand for Stash is simply not there.
In the last few years over the course of the project, we have seen cryptocurrencies evolve and we have come to the conclusion that the crypto market is unwilling to accept new crypto currencies created by a know team and that Bitcoin even with all its current limitations is likely to continue to be the dominant crypto currency for some time.
Even though in our view, Bitcoin is still pretty cumbersome, slow and complicated to use for the average user we think it is likely to stay as the dominant crypto currency for a long time to come. Hence short of a revolutionary technological breakthrough by a new crypto currency or a new project (like Libra) managing to solve the complex maze and uncertainty of crypto regulation as well as high price volatility, Bitcoin is likely to dominate the crypto market and is likely to become the digital gold rather than an everyday currency used for daily transactions by the masses.
It seems that Bitcoin’s advantage stems from its originality, first mover advantage and the fact that it was created by an unknown person or group of people and is largely viewed as autonomous and decentralised, even though this view is not entirely true. As a result of the above mentioned factors we think it will be extremely difficult if not impossible for any other crypto currencies to compete with Bitcoin and gain user traction for daily transaction rather than just sheer speculation.
Additionally, over the last 12 months a number of Stash team members have been working on the project full time and clocking long hours without pay as the project has ran out of resources. While the team felt that we needed to keep going in order to make the project a success, this arrangement unfortunately cannot be continued indefinitely, as it is unsustainable.
Given the lack of commercial potential for Stash we have also looked at potentially having the team continue on as part time or by finding a group of individuals with the necessary technical skill set to continue the project. Unfortunately, we have not been able to find anyone with the necessary ability and willingness to commit the time, energy and resources required to take on the project.
As a result, we have decided to trial a move of Stash to a community-based project that will have to be driven by the community going forward. If the project is to continue then it will have to be driven by the contribution of the community members to help with the development of the project.
Hence over the next couple of weeks, if you would like to contribute to the project going forward you can email us at
community@stashpay.io and lets us know how you would like to be involved or how you would like to contribute. Alternatively, you can begin to contribute at
https://github.com/stashpayio We understand that this not an ideal outcome. Over the last few years, we have poured our soul, energy, time, and personal resources into building Stash. The technical team has spent countless hours and many long nights building, testing, and improving the blockchain and making sure that everything runs as expected without any bugs or vulnerabilities. However, unfortunately without the project being commercially viable it is not possible to continue Stash in its current form.
We hope that a community-based project structure can build on top of what has already been achieved but note that the viability of this structure will depend on the demand and willingness of the community to contribute to the project.
Regards
Stash Team
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