BOScoin (BOS) is a cryptocurrency project and a part of a homonymous ecosystem that is presented by the developers as a "self-developing platform for trust contracts". This concept helps the Boscoin platform to gather positive feedback from the crypto community, which is a great way to improve and extend the user base of the project. The project is officially registered as a Korean company BlockchainOS Inc. and is currently managed by its CEO - Yezune Choi.
The BOScoin blockchain is based on the “owlchain” technological concept. This technology is often referred to as an upgraded version of the blockchain principle. Owlchain can be used for the tracking of all the important information about the life cycle of a product, an asset or even the organism. To say more, BOScoin incorporates a unique consensus algorithm, the mFBA - modified Federal Byzantine Agreement. The implementation of these technologies, if successful, can help the coin to become one of the most potentially strong projects in the industry.
The main goal of the company is to help the society to escape the shareholder capitalism concept. According to the company’s team, this type of capitalism is not as efficient as it was and can be improved with blockchain technology. implementation. When a shareholder capitalism is concentrated on providing wealth to a few shareholders, a Public Financing (PF) model is able to establish credit with a participation of the masses and utilizing democratic decision making,
In the ecosystem BOScoin implemented the following aspects:
- Trust Contacts, a kind of alternative to smart contracts, working on the basis of owlchain technology using the original structure and Timed Automata Language (TAL);
- mFBA - modified network consensus-building Protocol based on the Federal Byzantine Agreement (FBAS);
- The congress system of the master nodes that provides a stable and self-regulating development of BOScoin by means of joint voting and decision-making;
- decentralized applications based on trust contracts and reliability of the new blockchain architecture.
The “owlchain” concept is based on OWL - Web Ontology Language. This language is operating with the development of a trust system. The proposed concept is by itself original enough to form a new blockchain structure. The main difference of the trust contracts is a alternative approach to the terms’ writing. When in the smart contract writing, everything is programmed by the developers, trust contract can be written (or at least red) by anyone. This is reached by the implementation of SDLang - Simple Declarative Language, that is human-readable and easy to understand.
BOScoin Congress plays an important role in the last issue. This system includes trusted nodes whose functions are divided into the following actions:
- transaction support and block generation;
- voting on the governance proposals;
- freezing of funds with later receipt of dividends.
BOScoin self-governance is implemented on a similar system with the Dash platform. Users and developers can make suggestions for the project development, its new tools and features. Representatives of Congress vote on the proposed ideas.
If accepted, the initiator of the development receives funds from the community budget (Commons Budget). The funds of this Fund are accumulated from the blockchain, and 30% of the Commission fees are allocated for its financing.
To enter the BOScoin Congress, the user is offered to freeze part of the funds under the PoS Protocol. They become the key to the reliability of the node and at the same time the basis for passive income for network support.
BOScoin (BOS) is a relatively new coin but it managed to get a generally positive feedback in the industry and to become one of the biggest cryptos in terms of market capitalization. BOScoin ICO gathered 12,202,996 USD for the company.
BOScoin price online via CoinMarketCap:
At the time of writing this article, BOScoin can be bought on the following exchanges: