What Is the Boring Protocol (BOP)?

Trading under BOP, Boring is a decentralized virtual private network built on blockchain technology. The project aims to provide a peer-to-peer bandwidth market. Boring is a protocol that aims to help conduct transactions between node providers and bandwidth users. Thus, the project seeks to incentivize the nodes that provide reliable programs to such network users.

As the litepaper says, the existing centralized VPN services have several flaws. Such flaws include a lack of transparency and information of the users kept in unsecure centralized data storage. Further, such services are provided to the users with a bond of six to twelve months which makes them stuck to the contract. The Boring project aims to correct this with the usage of blockchain technology. According to the website, the Boring protocol aims to make an entirely new marketplace for bandwidth usage and privacy. The project intends to provide both features in one program.

Further, the Boring ecosystem aims to provide for connection points or nodes called providers. These providers share the VPN connection with the client who wants to transfer secretive or jumbled data. The project works on the Solana blockchain. The protocol acts as the central governing node, which seeks to help connect both provider and client. The protocol processes a fee for every connection.

The native cryptocurrency of the Boring protocol is BOP. BOP also denotes the ticker name. BOP is a utility token that is used as a medium of exchange between participants of Boring protocol. BOP aims to help in providing a secure mode of payment. The token has no other benefit than just being used as a payment mode to the nodes on the network. Further, the BOP token intends to be distributed among the users to encourage them to contribute more. Moreover, the token is also staked by nodes that indicate their commitment to the network.