What Is BOScoin?
BOScoin is a self-evolving platform powered by blockchain technology that is for cryptocurrency trust contracts. The platform does not have a mining mechanism like other coins but rather uses rewards for operating nodes. Users of the platform can earn rewards by running a valid node or if they become a congress member. The smart contracts will be executed on the BOSchain blockchain. The contracts are securely executable and reliable. The platform aims to take the smart contract ecosystem to a new level.
BOScoin Blockchain Operating System Cryptocurrency Token Features
The Trust Contracts:
Are contracts that are secure and based on a decibel programmable framework that is referred to as Owlchain. This framework is made up of the Timed automated language and Web Ontology Language. It will give an approachable framework that can be used to create and execute contracts in the cryptocurrency industry. The trust contracts will translate the contract into the human-readable language using SDLang making it easier to read.
The Commons Budget:
Is a public budget for growth and evolution of the network. This treasury is used for the enhancement of the BOScoin ecosystem. The coins that are held in the commons budget will only be transferred due to proposals passed by the congress via voting. The role of the commons budget is to expedite the growth of the BOScoin ecosystem during its initial stages and to come up with a sustainable self-evolving platform. The coins found on the Commons Budget will be accumulated through the direct issuance of the coins and from the transaction fee.
Is the decision-making-body for the BOScoin network. The network will come up with a democratic and productive decision-making process. The network improves governance issues and assists the system to evolve in a robust ecosystem.
The members of the congress get to decide and vote on functions and policies of the blockchain. They also vote on proposals that they should receive and be used to utilize the commons budget. The use of this feature will enable the BOScoin platform to avoid the separation of communities and hard forking of the blockchain.
The Incentive Scheme Together With The Issuance Plan:
Used creates value for the coin while deterring the centralization of power. The incentive system will be used for freezing and confirmation of the rewards for those who freeze their coins.
The Byzantine Agreement Algorithm:
That is from the Federated Byzantine Agreement system allows for low latency transactions while still allowing for energy efficiency. The platform will do away with operational and technical issues that are common in many cryptocurrencies.
The platform will use the proof of stake for maintaining the system. Users of the platform will be able to freeze their coins in units of 10,000 BOS within a node in return for ongoing liquidity. The users will be given new BOScoins based on the number of their frozen coins. The frozen coins will act as an economic incentive to operate as a node and as collateral for the integrity and security of the information on the blockchain.