BOSAGORA – a next-generation Trust Contract blockchain – is making waves in the cryptosphere due both to its innovative solution and the impressive growth of its native token BOA which experienced a staggering 279% value increase in Q4, 2019. In early Q1, 2020, BOA is already outperforming its success metrics for 2019.
BOSAGORA is a project committed to democracy, transparency, and self-governance. It is run and administered by the Congress Network, the legislative body of the ecosystem. At its heart are the network users who use their collective wisdom to determine the future direction of the project. The digital currency is supported by the robust functionality of Trust Contracts, another key feature of the project. These various facets of BOSAGORA create a forward-thinking, fair and dependable blockchain with an outlook and vision for ongoing success.
One of the most important aspects of BOSAGORA to understand is the Congress Network. This is the decision-making body of the network, and it is where discussions and the voting procedure takes place. Members decide the topics for deliberation and these can be anything from marketing, to possible forks to source code and so on. Any BOA operator can shape and direct the future of the network allowing BOSAGORA to improve and evolve over time.
To ensure that the Congress Network is more than a forum for discussion and debate, and is instead a center which drives the blockchain’s ongoing evolution and adaptation, the Commons Budget will provide financing to implement the decisions reached. If the proposal is approved, BOSAGORA will finance the proposal to ensure that the will of the people is actually carried out with all due haste.
Added to this is the application of Trust Contracts. These are designed to provide an efficient, safely designed smart contract engine, providing an easy-to-develop language supported by many tools for easy adoption by developers. Through these systems, as well as a series of other mechanisms, BOSAGORA is creating the first smart contract blockchain powered by the collective intelligence of its users and which will, therefore, constantly adapt to meet their needs and wants.
BOSAGORA’s approach to the issue of scalability worthy of consideration. With BOSAGORA smaller transactions are dealt with by the layer 2 solution dubbed the Flash Layer. This Flash Layer is built into the protocol and reduces pressure on the first layer, known as the settlement layer. This means that less data is required on the blockchain, that confirmation times are near instantaneous and users do not have to wait for a block for transactions to complete. Thanks to the Flash Layer, micro transactions are far cheaper too.
The history of BOSAGORA has included some interesting developments. The project was initially muted as BOScoin in 2017 and successfully hit hard cap by securing funding from sources in 95 countries in May of that year. Later, BOScoin was redubbed BOSAGORA to fulfill the same ideas and ideals as the initial project. Now, BOSAGORA has produced its own whitepaper to further elucidate upon the team’s strategy and what direction the project intends to follow in the future.
Early in the whitepaper is a breakdown of BOSAGORA’s key values to better offer insight into the goals of the project. These are:
- “Forward-thinking” – Pioneering future realization: This is created to develop the first full-node Proof of Stake, and Federated Byzantine Agreement consensus algorithm blockchain platform. In tandem with the development of innovative technology, users will benefit from a blockchain project that is both fast and trustworthy.
- “Fair” – Mature democracy: The project will embody the very best features of democracy and collective decision-making. In this way, it will guarantee the highest level of fairness through free and inclusive democracy, with the advanced deliberative democratic decision-making tool, Defora.
- “Dependable” – Clear and transparent: This will make it easier for anyone to see the entire project with clarity and transparency, and to make good decisions based on established procedures.
These values are supported by a mission statement in which an “expression of… collective intelligence” is supported by “an advanced democratic decision-making process”. In essence, this is the description of what the Congress Network expedites, making it possible for groups of people to establish and vote upon issues of importance to the BOSAGORA project.
Trust Contracts are a standout feature of the whitepaper but have undergone significant changes from the alpha to beta stages. What remains the same is that Trust Contracts are created to “enable a safe, accurate, programmable and executable contract”.
BOSAGORA is now to use “flexible programming language on top of virtual machines”, and look into using WebAssembly to bring its final plan into fruition. Significant performance benefits are expected over the previously muted idea of using Owlchain. The goal of the Trust Contracts will remain the same, providing a decidable and approachable framework for creating and executing contracts on the blockchain.
One thing which has remained the same across both papers is the consensus algorithm. BOSAGORA still plans to use a modified Federated Byzantine Agreement (mFBA) to reach consensus. This puts nodes into groups known as Quorums and with enough consensus reached can allow for system-wide consensus to be achieved without the agreement of every single node. Added to this is a Proof-of-Stake (POS) feature for the maintenance of the governance protocol.
There are a few significant changes to BOSAGORA which have been reached through hard work and application of theory, discovering what has worked so far and what has not. No changes have been made lightly, but are instead a result of careful consideration and the desire to best deliver on the core concepts and key deliverables which BOSAGORA has set out to accomplish from day one.
BOSAGORA is the source of this content. This Press Release is for informational purposes only. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. Cryptocurrencies and tokens are extremely volatile. There is no guarantee of a stable value, or of any value at all.
To find out more about the BOSAGORA project, visit the website: www.bosagora.io