BOSAGORA is a public blockchain that places importance on transparency and openness. We aim to establish a network that anyone can participate in, equipped with a democratic decision-making platform which selectively supports proposals such as business models that benefit the ecosystem by collecting opinions from BOA holders.
Afterward, we will work on attracting profitable businesses to increase the overall value of the platform, increasing the value of BOA through individual business performance, and provide added benefits for holders in order to expand the ecosystem of BOSAGORA.
In reality, achieving a fully decentralized POS (Proof of Stake) public blockchain is a very difficult task from a technical standpoint, and it is even more difficult to find a project which successfully achieved this anywhere in the world. (Projects like Ethereum and Algorand are currently working to achieve a similar vision)
We decided to use SCP (Stellar Consensus Protocol) as the basic consensus algorithm so that all nodes with parliamentary voting rights can participate in block creation. SCP provides a way to reach consensus without relying on centralized or closed systems to accurately record transactions. It has key attributes such as distributed control, low latency, flexible trust, and asymmetric security, and it is a method of reaching consensus using a trusted network formed based on a condition that users choose which node to trust.
However, the current version of SCP is not open enough in terms of participation, so we created our own modified version that has more of an open structure. Additionally, we have implemented a Proof of Stake system to provide users various incentives and a slashing protocol to expel nodes that commit malicious acts.
The following is the main development progress of BOSAGORA development team.
Completed the basic structure of Full Node
Full Node means that one node has all the information on the corresponding blockchain. BOSAGORA’s full node has a genesis block creation function that announces the beginning of the blockchain, a P2P network function that allows users participating in the network to create their nodes and connect them to the network, gossip protocol that helps node participating in the network connection with other nodes, and catch-up phase that allows nodes which entered after genesis to catch up with the rest of the network. These core functions allow the full node to complete a perfectly flawless blockchain.
Designed and applied an efficient signature system and UTXO data structure for the development of Validator(validator function)
UTXO(Unspent Transaction Outputs) refers to unused transaction outputs. The existence of a coin can be verified by validating the transaction through the “unconsumed output” recorded on the blockchain. This prevents double payments and eases balance verification.
The process by which a UTXO is created and tracked is as follows. When a transaction occurs, it is verified and then entered into the transaction pool, the new UTXO is added to the UTXO set, and the UTXO set used in the concerned transaction is deleted from the UTXO set.
Therefore, it is easy to find double-spend because UTXO is used to compose the payment system. Nevertheless, if a double-spend occurs, the transaction is invalidated to prevent it from happening.
- Read more about Quorum Balancing: https://bit.ly/2SbTtDK
Another unique function of the BOSAGORA platform, is our administrative interface which we’ve called Talos. With Talos users will be able to monitor their nodes and validators
Talos gives you the ability to monitor all node and validator operations under a single easy to use application. Talos will be available on Linux, macOS, and Windows environment and is currently under development.
Completion of the Quorum Balancing MVP to give openness to the composition of nodes participating in the consensus
A quorum is a set of validator nodes that participate in block creation. Quorum balancing plays an important role in periodical shuffling of validators within the quorum slice. It is also in charge of placing high stake validators at on the edges of each quorum slice so that they are connected. This is a technology that makes it easy for everyone to participate as a validator, and through this, we can achieve a truly decentralized platform, while securing stability and transparency. Furthermore, users no longer have to worry about whom to trust and how trust is created.
Through this, the BOSAGORA team moves one step closer to creating the world’s first truly decentralized platform.
( A quorum is a set of validators that are nodes participating in block creation. This is a consensus that cannot be changed, and a group of nodes chosen to be reliable.)
Implementing and applying a slashing protocol to remove malicious nodes and a block generation compensation design is under progress
Slashing is a function that helps to restore stability in the ecosystem by removing nodes that commit malicious acts in the BOSAGORA network. To this end, the first step we took was to design a system that detects whenever pre-images are missing. By doing this we will be able to verify enrollment in the network and identify misbehaving individuals by their missing pre-images. One risk that a slashing protocol can introduce in the network is the potential of slashing innocent participants. Because of this, the team is taking measures to make sure that innocent individuals that may miss the opportunity to relay their pre-image for whatever reason will not be slashed as a result
Stoa (SDK and API)
We are currently developing SDK and API servers to more efficiently manage the development schedule. An SDK (software development kit) is a source and tool package that allows creating application programs for a specific operating system, and API (application programming interface) refers to a language or message format used for communication between the operating system and application program. You can envision the Stoa API server being the gateway to the Agora network.
One thing that’s unique about our SDK is that we’ve decided to support typescript. The SDK’s main purpose is to help create applications that can communicate with both Agora and Stoa.
We have fully developed Votera, an Android and iOS application as well as a Votera server that will act as one of the first uses for our Congress Network
Its name ‘Votera’ takes roots from the French word which means ‘to vote’ and in Korean, it sounds similar to ‘add’ in a sentence ‘please add one valuable voting right’. Votera aims for anonymity and 1 node 1 vote policy and will play important role in BOSAGORA ecosystem with the congress function where everyone has a say and where anyone can report distortion of public opinion and abuse which undermine the atmosphere if it occurs.
The BOSAGORA development team is making consistent progress in line with our current development roadmap, and moving forward we will work on implementing our layer 2 solutions known as the Flash Layer for scalability and other functions in order to launch the BOSAGORA Coinnet.#crypto #cryptocurrency #blockchain #boa #BOSAGORA #announcement#democracy#governance#vote