Reading:
Integrated SCPD code into Agora, New BOSAGORA website opening & releasing Whitepaper, etc.
Image

Integrated SCPD code into Agora, New BOSAGORA website opening & releasing Whitepaper, etc.

by Rooney
2020-11-02

Monthly Report Jan. 2020

DEVELOPMENT

January was another great month for the BOSAGORA team as we successfully integrated the Stellar Consensus Protocol (SCP) into the codebase of AGORA. The development team is still working on the Validator milestone which is progressing smoothly. AGORA Validator development is an extremely large body of work to tackle but the team is currently around 66% of the way done with development. The following functionality is currently in development:

Functionality in Development:

Integrate SCPD code into Agora #209

This feature was developed by Andrej over the entire Q4 of 2019 until January of 2020. The integration of the Stellar Consensus Protocol is a huge accomplishment for the team as much as the time needed for its development. The reason this is such a big deal for the team is that this integration allows for basic block consensus to work. SCP allows AGORA a way to reach consensus without relying on a closed system to accurately record transactions. Simply put, without SCP we would not be able to execute a large amount of what we’re aiming for with AGORA.

We will continue to further develop the Federated Byzantine Agreement (FBA) used in SCP as we aim to create the first fully decentralized full node POS system. At this phase, any modifications made to SCP will be simply quality of life improvements.

Please refer to the link below if you want more information about SCP and the achievement.

Ensure that validators sign with a frozen UTXO #205

This feature was developed by Henry throughout the entire month of January.
This set of functionality is needed to ensure that validators have the proper stake in the system. By using an Unspent Transaction Output (UTXO) model AGORA is able to verify that individuals who choose to validate transactions actually signed with a valid transaction, the key it signed with belongs to a full node that has frozen 40,000 BOA, and that the UTXO for the node is not currently melting.

Please refer to the Github link below if you want more information about this.

Design and implement enrollment process #406

This feature was developed by Jay throughout the entire month of January 2020. The enrollment process is essential for a node to become a validator. In order for a node to become a validator, and begin a cycle, it must complete the enrollment process. We consider the consensus protocol as being a succession of simultaneous cycles, undertaken by each participant individually. The enrollment process is closely related to the “Ensure that validators sign with a frozen UTXO #205” functionality that was also implemented.

Please refer to the Github link below if you want more information about this.

Core Development in January:
Monthly Activity:
Last month we had 43 pull-requests and 21 active issues. Of which:

  • 9 pull requests proposed
  • 33 pull requests merged
  • 12 new issues
  • 9 issues closed

Ongoing Validator Development:


MARKETING

[BOSAGORA & KoSAC participated in Geneva Blockchain Congress]

On January 20th, BOSAGORA and KoSAC were invited to Geneva Blockchain Congress hosted by the Geneva government to give a presentation that drew lots of attention.

In the last Geneva Blockchain Congress, a total of 1,000 people attended, 34 individual conferences were held, and 120 speakers from 15 countries around the world participated. On the main stage of the Geneva Blockchain Congress, one of the most constructive conferences, the most influential people in the blockchain industry, including those from Libra, IBM, and Don Tapscott, gathered to share in-depth insights into the direction of the future blockchain.

Before and after the presentation, BOSAGORA received many questions from renowned figures including Don Tapscott, author of ‘Blockchain Revolution’, ‘Paradigm Shift’ and Jaeseop Lee, Director of ITU(International Telecommunication Union), one of 14 specialized institutes under UN.

Especially, BOSAGORA conversed for a long time with Don Tapscott. While we were explaining about the direction of BOSAGORA and Defora, he showed much interest, writing down it on his note.

Thanks to Geneva Blockchain Congress, we could gain huge insight which may contribute to our project in the connection with social impact field. We also discussed policies of international organizations and national institutes, technology trends of global companies, and opportunity and convergence of blockchain.

Even after the event, we received many requests to attend their meetups and events from various institutes and companies. Capitalizing on this experience, we would keep expanding the influence of BOSAGORA by promoting it on the global stage.

[Unveiling of New website and Whitepaper]

A new website containing a new direction of BOSAGORA was finally opened on 16th, January. We put effort into making it mobile-friendly for more people to access BOSAGORA conveniently and unveiled new vision and new whitepaper altered for BOSAGORA. We would proceed with honoring promises with community one by one through expanding ecosystem, technology, and institution presented in the whitepaper.

[Listing on Global Exchange Anticipated]

Discussion with a global top-tier exchange over when to list BOSAGORA is underway. Several dates are on the surface in February, so we will announce the date as soon as it is decided. Even after that, we will maximize the value of BOSAGORA project by keep attempting to be listed on global & Korean big exchanges and expediting various marketing activities in cooperation with small-to-medium-sized exchanges, so that people can access BOSAGORA easily no matter where they are.

[New Global Meetup Anticipated]

After receiving favorable reviews and attention from the media and cryptocurrency officials around the world since the first global meetup in Geneva last November, BOSAGORA is preparing for meetups in various regions. In order to share BOSAGORA’s development direction, technology, and business status with the community, there will be another global meetup as well as a meetup in Korea.


FINANCE

Here is a detailed look at expenses accrued for BOSAGORA for the month of January. To understand the attached document better, here is an explanation for each entry.

  • Salary: Salaries of 25 full-time employees.
  • Tax: Total of income tax and 4 major insurances (Korea specific)
  • Reserves for Retirement Allowance: Provision for advanced payment to be paid when employees retire (Korea specific)
  • Employee benefits: Members’ meal plans, snacks, team outings, etc.
  • Hardware: PC and other necessary equipment purchasing expenditures for new entrants.
  • Operating
    – AWS (Amazon Web Services) and groupware (collaboration tools) cost, marketing cost, business trips and related meetings, stipends, VAT and other relevant operational expenditures.
  • Rent expenses: Office rental
  • Commission: Translation, administrative and taxation outsourcing service fees.
  • Professional fee: Intellectual properties (BOSAGORA, etc.) registration, accountants, legal services and other professional services fees.
  • Administrative expenses: Others

Please join our communication channels as follows!

Website(Kor): https://bosagora.io?lang=kr
Website(Eng): https://bosagora.io/?lang=en
Telegram(Kor): https://t.me/bpf_korea
Telegram(Eng): https://t.me/bpf_eng
Youtube: http://bit.ly/2YFpd5r
Medium: medium.com/bosagora
Twitter: https://twitter.com/BOSAGORA1
Facebook: https://www.facebook.com/BOSAGORA/
Linkedin: https://www.linkedin.com/company/bpf-korea/
Github: https://github.com/bpfkorea

BOSAGORA TEAM


Related Stories

Arrow-up