What is SORA?

SORA (XOR) is a unique cryptocurrency that strives to create a supranational economic system. This system is designed to efficiently provide capital to producers, thereby advancing humanity. SORA decentralizes the concept of a central bank and introduces a new way to architect a parachain blockchain that connects to the Polkadot relay chain and ecosystem. The SORA Network provides tools for decentralized applications that use digital assets. These tools include atomic token swaps, bridging tokens to other blockchains, and creating programmatic rules involving digital assets. The native utility token of the network, SORA XOR, is used for transaction fees on the SORA substrate network, among other uses.

How does SORA work?

SORA operates on a substrate network that bridges Ethereum and intends to bridge Bitcoin, enabling cross-chain communication with both blockchains. This network also connects to Polkadot and Kusama, allowing the Ethereum and Bitcoin communities to access Polkadot and Kusama via a user-friendly bridge. The SORA Parliament, the governance system for the SORA Network, allocates newly minted XOR to productive projects. The Parliament is built around three main concepts: Isonomia (political equality for all citizens), Isegoria (the right of all citizens to speak and contribute), and Sortition (randomly choosing groups of citizens to make decisions).

What are the potential use cases for SORA?

SORA strives to be a catalyst for advancing humanity by enabling economic growth. It does this by minting XOR tokens and allocating them to producers to create new goods and services. The SORA network provides tools for decentralized applications that use digital assets, making it a valuable resource for developers in the cryptocurrency space. Additionally, SORA's bridging capabilities allow for cross-chain communication, making it possible for users to trade any asset on Ethereum and Bitcoin on the Polkadot and Kusama networks. This provides real cross-chain swaps, expanding the potential use cases for SORA.

What is the history of SORA?

SORA was founded by Makoto Takemiya, the creator of the Proof-of-Importance algorithm used in NEM. Work on the SORA project began in August 2017 with the key thesis that cryptoeconomic systems need a rational economic model to compete with centralized economic systems. The SORA v1 Network was launched on October 17, 2019. Since then, the technology has improved, resulting in the development of the SORA v2 substrate Network, an upgrade to the SORA Network and the SORA tokenomics. The long-term goal of SORA is to realize a supranational world economic system.