What Is BOSAGORA (BOA)?
BOSAGORA platform is a decentralized self-evolving cryptocurrency. According to the whitepaper of BOSAGORA, the platform is built on Trust Contracts and an embedded decision-making system called the Congress Network. Trust Contracts are executable contracts based on a protocol layer. It provides a safe and efficient smart contract engine and an easy-to-develop language with multiple tools for easy adoption by developers.
Furthermore, Congress Network solves governance issues arising in decentralized organizations. It promotes DAO, wherein all node administrators have the right to vote. The rule followed is “one vote for one node.” The focus of BOSAGORA is on developing an open, decentralized blockchain that ensures transparency of the consensus algorithm and clarity of contracts.
The key attributes of BOSAGORA aim to be the following:
Forward-thinking- The plan is to develop a full-node proof-of-stake and Federated Byzantine Agreement (FBA) consensus algorithm blockchain platform with innovative technology development for more speed and trust.
Byzantine Agreement is a foundational concept in blockchain technology. A Byzantine Agreement is reached when a minimum number of nodes agree that the solution presented is correct, validates a block, and allows its inclusion on the blockchain.
Dependable- There is clear transparency so that everyone can see the project and make decisions based on established procedures.
As per the whitepaper, the BOA coins are issued in three ways; Initial Development Budget (10%), confirmation rewards (54%), and the Commons Budget (36%).
Initial Development Budget- These are the coins distributed earlier to the Genesis Block for the final development of the software. These coins include airdrops and bounties. The first block of the cryptocurrency ever minted was known as Genesis Block. Four hundred fifty million BOA are created with the Genesis Block. Minting is the process in blockchain to validate information, create a new block, and record this information into the blockchain.
Commons Budget- The Commons Budget is a BOA asset in which a fixed amount of BOA is accumulated every time a block is generated, and 30% of transaction fees are continuously collected. Its usage is sought by a proposal in the Congress Network, and it is authorized by the Congress Network through voting. The Commons Budget may be used to develop the BOSAGORA ecosystem in a variety of ways.
History of BOSAGORA (BOA)
The whitepaper of BOSAGORA was released in March 2021. The BOSAGORA Foundation was established in ZUG and Switzerland on April 7, 2017. Serge Komaromi is the founder of BOSAGORA. He has served as a fund manager in the international bank UBS. IWAN Kim is the president of BOA. He has more than 35 years of experience in marketing. Mario Lee is the vice president of BOA. He is the first member who created a shopping mall solution in Korea in 1999.
