Over the last few years we’ve seen an increasing amount of activity around crypto liquidity with many new companies tackling cryptocurrency payments. We’re happy to see so much interest in the space — this proves a growing demand for expanded functionality and an educated marketplace eager for new solutions.

One of the key differentiators between the STK platform and other cryptocurrency payment providers involves our intention to have your private keys remain independent from our platform so you retain complete control at all times. We know most cryptocurrency holders demand total privacy when it comes to their keys so we’ve designed our platform to separate your ‘spendable’ crypto from your main wallet and keep your keys private.

Here’s how it works:

STK works within the STACK app, a fee-free app to manage your money, straight from your smartphone.

When you download the STACK app, you can set up a STACK crypto wallet in addition to a local currency or fiat wallet. Think of this wallet as a place to store your spending money. While initial daily limits will help with fraud and AML prevention, you can reload it regularly.

Your STACK crypto wallet will have its own wallet address so you can transfer funds from your existing cryptocurrency wallet (for example, MyEtherWallet) into your STACK crypto wallet (this is your ‘spendable’ crypto). This is a public Ethereum address in a smart contract. Just like your main cryptocurrency wallet, you will maintain complete control over the key to your ‘spendable’ wallet as it’s stored on your personal device. While STACK generates the wallet address, the app on your phone generates the key which is never sent to our STACK server, remaining safe on your device.

For example, if you have a MyEtherWallet account, you can transfer funds to your STACK crypto wallet using the wallet address located within the STACK mobile app. To fund your ‘spendable’ wallet, you can generate a QR code or use the wallet address located within the app.

Before you can access the STK state channels for instant payments at point of sale, your ‘spendable’ wallet must contain STK tokens. These tokens act as an access key to activate the state channels which facilitate instant transactions through the STACK app. The number or percentage of tokens has yet to be announced.

When a purchase is made, the transaction is sent to STACK and the funds are deducted from your STACK crypto wallet. After a period of time, the payment channel is closed and the transactions are broadcast to the Ethereum network. For a full breakdown of the payment process, have a read through this article.

This way, STACK won’t need access to either key — your main cryptocurrency wallet or your ‘spendable’ account.

If you choose to send money back to your original wallet, you can cancel or refund your transaction from within the app, at which point all unspent funds will be returned.

We know you’re serious about safety and security and so are we. The STK platform allows you to keep complete control over your private keys. The STACK app requires a PIN for entry and has a ‘lock’ feature you can activate if your phone is lost or stolen. While certain aspects of our platform are proprietary, we’ll continue to release more information about our tech and development over the next few months. If you’ve got questions or concerns beyond what we’ve outlined on our channels and whitepaper, feel free to get in touch anytime at info@stktoken.com. As always, join the conversation on our social channels: Telegram, Twitter, Bitcointalk, Discord and Reddit.