The BOSCore blockchain is one of the most technologically advanced in the blockchain industry, boasting a collection of features that create a better service to blockchain developers, businesses and users. This article delves into ten reasons why BOSCore is one of the preferred choices for developers, businesses and users.
1. An amazing pool of talented professionals
The first thing to consider when investing in a cryptocurrency project (even before you look at roadmap and products) is the people behind it. Are they reputable? Have they undergone other blockchain projects in the past? Do they have the skills or expertise to deliver on the roadmap as outlined in the white paper? For each of the questions above, BOSCore scores a positive point.
The community behind the BOSCore public network comprises of the best hands in the blockchain industry who have built valuable and sustainable products in the past. The BOS Executive Team, are a crucial part of the BOSCore network responsible for the administration of the BOS worker proposal fund.
Block producer teams are responsible for the maintenance of the database of the BOSCore network, hosting a copy of the database on their servers and validating the transactions on the network.
BOSCore core technical team comprises of backend developers who are constantly improving the underlying code base and making improvements which create a blockchain platform that is secure, reliable, fast and convenient for business and developers.
It’s not a faith in technology. It’s faith in people. Steve Jobs
2. A pioneer in technology
Having an incredibly talented team who are well experienced affords BOSCore the opportunity to innovate fast. BOSCore is quick to implement upgrades and features and this makes it a blockchain of many firsts. REX was first implemented on BOSCore. BOSCore is currently the only EOSIO blockchain that has realized IBC and 3 Seconds LIB. In fact, BOSCore was the first to deliver an IBC cross-chain solution for DPOS consensus-based chains, the first to achieve a 3-second LIB (Last Irreversible Block) speed consensus, and the first to build a game-complete, positive incentive commercial oracle system.
Recently, BOSCore introduced an upgrade plan to VM 2.0 which will bring more efficiency and speed to the BOSCore network. It would be implemented in a way that it avoids loss of service time due to functional iteration.
The BOSCore blockchain is quite advanced and compatible with EOSIO. It can follow upgrades from EOSIO and in the recent updates, BOSCore has announced that they will selectively merge future functions of EOSIO according to BOSCore’s own needs, and no longer directly merge large versions at once. This move further portrays the confidence of the BOSCore team.
3. 3 Seconds LIB
Blockchain-based systems have a reputation for being comparatively slower than centralized databases and the sluggish transaction speed is a major concern for legacy enterprises that depend on high-performance transaction processing systems. This has been one of the major hindrances to blockchain adoption.
BOSCore is one of the fastest blockchains in existence, being able to reach finality in just 3 Seconds. 3s LIB is one huge achievement for the BOSCore team and the entire blockchain community.
For businesses that require that fast on-chain settlement, this means that they do not have to compromise on security or use centralized middle-men which may compromise the integrity of the blockchain. The use of second layers may also be unnecessary and solutions that must use it will be building on a base layer that is solid and efficient if they build on BOS.
BOSCore brings more efficiency to businesses and this can be applied in retail POS (point-of-sale) transactions. Being able to do fast irreversible transactions on-chain provides the businesses with more trust and security and it removes any possibility for a reversal. The ability to support retail POS transactions on-chain is crucial for retailers who wish to accept a cryptocurrency as a means of payment in shops as it provides more security for them.
4. BOS Oracles
The ability to pull data from the real world from within the blockchain is another important feature that BOSCore provides with BOS Oracles. Oracles determine the data that comes into the contract from the outside world. By using risk control and arbitration, BOSCore is solving the oracle problem and creating a more credible and decentralized source of data.
5. BOS IBC
BOSCore introduced the technical principle of IBC in order to realize the inter-blockchain transfer of token between two EOSIO blockchains. However, BOSIBC currently extends beyond EOSIO supporting not only EOS but also other cryptocurrencies like USDT. In the near future, BOS users will be able to spend Bitcoin, Ethereum and other cryptocurrencies on BOSCore network.
Imagine a scenario where Bitcoin is transferable on the BOS blockchain and utilized with the speed, convenience and access to other advanced features of the BOSCore blockchain. Users who want to enjoy BOS near-instant finality, the security of on-chain transactions, etc, would prefer to spend their bitcoins on the BOS network because it is faster and more convenient.
One of the aims of the BOSCore blockchain is to be a blockchain freeport where all major cryptocurrencies can freely pass and communicate. A freeport is a place where commercial activity is carried out for free, without taxation. They have been known to stimulate economic benefits in regions where they are located because of the concentration of economic activity which is produced from the businesses that the freeport attracts. This is phenomenon is known as the ‘agglomeration effect’
Using BOS IBC, traditional digital asset which were initially isolated would be able to network freely, transfer information in a seamless and efficient manner and also leverage on the incredible speed of BOS 3 Seconds LIB and data from BOS oracles.
6. Cheaper resources
DPOS blockchains require that developers acquire resources such as RAM, CPU and Bandwith in other to build DApps. BOS resources are cheaper to procure compared to many other blockchains. Products that require high CPU consumption are better built on BOS because it makes more economic sense. DApps things can save cost by building on BOS and at the same time enjoy the other advanced features and benefits of the network.
7. Free transaction and free accounts
It costs zero fees to operate on the BOS network. With BOS, someone in the US can send $0.001 to anyone anywhere in the world. The transaction would be confirmed in 0.5secs (confirmation time). In 3 seconds it would be irreversible and forever be timestamped on the blockchain and it costs absolutely zero fees! This is a big deal especially when it is compared with legacy systems where users can spend up to 20% on fees. Paying with BOS is more economically sound.
Free transactions also offer immense value to businesses that deal with micro-transactions. For example, game developers can now build games where users would be able to purchase in-game items with fractions of a cent using the free transaction of the BOS blockchain.
8. Simple and easy to use
Having human-readable account names is one of the most underrated features of the BOSCore blockchain and it is worth mentioning. The typical cryptocurrency address looks like this: “3J353CYuEuCW6m9WLtVbNezRUQgaxiFbsw”. It is nearly impossible to memorize it as opposed to a typical BOS address with just 12 characters. For example “johnlegend12”. Human-readable account names provide BOS users with better user experience. It simply makes things easier for the end-user.
9. No hype but real substance and value
The value of marketing and community building especially in blockchain cannot be overemphasized because blockchain is a nascent technology and the community has to be built from the ground up. BOSCore has successfully built a global community and rich network of developers, entrepreneurs and enthusiasts who share BOSCore’s mission of providing credible blockchain solutions for businesses.
There is a saying in BOSCore community: “talk is cheap, show me the code”. This is one of the unwritten values of the BOSCore community. This doesn’t imply that BOSCore disregards the place for marketing. Rather it solidifies BOSCore’s belief in productivity and value creation above the blockchain hype.
10. Get Funding for your projects
Developers and talented DApp teams can get funding for their projects through BOS worker proposal system which makes available about 100 million BOS in grants to projects that can add value to the BOSCore ecosystem. Four projects have been funded using this system and there are plans to initiate micro-grants to fund small and medium-sized projects aimed at the further promotion of the BOSCore blockchain.
BOSCore aims to use technology to build a credible business ecosystem and to be a public chain that supports billions of users.
