What is BOScoin (BOS)?
Future of BOS Cryptocurrency and know how to buy BOS

#1 – What is BOScoin?

BOScoin: The Basics

  1. BOScoin is a decentralized Trust Contract-based self-evolving cryptocurrency which uses an embedded decision-making system called Congress Network.
  2. It aims to solve the inherent problem of Smart Contracts: that their flexible nature makes them undecidable, i.e., it’s impossible to construct a single algorithm which will definitely lead to only one yes/no answer.
  3. Trust Contracts are securely executable contracts based on a technology called Owlchain, which are inherently decidable, and the Congress Network is BOScoin’s clearly defined, automated governance system, a decision-making body which solves any governance issues which would arise in the network.

BOScoin Development

  1. BOScoin has a team of over 25 members working towards its development and improvement.
  2. CEO Yezune Choi has over 20 years of experience in software engineering and 5 years in the blockchain world. Before BOScoin, he developed and operated a local cryptocurrency based on Litecoin.
  3. CTO Minhyo Bae made a successful shift from his study in Political Science and Economics, to Computer Science and the blockchain. Prior to BOScoin, he worked on Data Analytics and Game Development, at various companies.
  4. Chief Security Officer Eunseong Kang is a veteran in internet security, with over 30 years of experience in software development, Security, R&D and business. He served as a CISO with an Internet Service provider and was the director of the largest security company in Korea before joining BOScoin.
  5. Other members include CSO Myungsan Jun, COO Jonghyun Kim, Auditor Jinchan Kim, developers, designers and other managers.

 

#2 – What are the advantages of BOScoin?

BOScoin Technology

  1. BOScoin tries to solve the problem of undecidability of smart contracts by using a domain-specific language understandable by the average user. It also tries to mathematically demonstrate the decidability of its smart contracts’ implementation.
  2. The smart contracts, which are based on “Owlchain Technology” consisting of the Web Ontology Language(OWL) and Timed Automata Language(TAL) are called Trust Contracts.
  3. Proposals regarding any changes in the network as well as requests for funds are voted upon by its governance system managed by node operators known as the Congress network. This gives a specific structure and a systematic decision making process to BOScoin.
  4. BOScoin uses a consensus mechanism which separates the political system and economic incentives, ensuring that no single user can gain control of the network.
  5. BOScoin’s consensus algorithm is called Modified Federated Byzantine Agreement (mFBA), which is based on Stellar’s Consensus Protocol(FBA)
  6. The key features of this consensus algorithm are decentralized control, low consensus times, flexible trust, high security and governance features.
  7. You become a member of BOScoin’s governing body (the Congress Network) if you run a fully synchronized node at normal network speed, freeze at least 4 units of 10,000 BOS each and participate in voting in the platform. This governing body makes BOScoin truly decentralized, as everything from the development of source-code to allocation of marketing resources can be done from within.
  8. When a proposal is put forward to the Congress Network, the net difference between the votes in favour and against must exceed 10 % for it to be passed.
  9. Unlike many cryptocurrencies which have limited applications, BOScoin was released with two apps already using the platform, Stardaq and Delicracy.
  10. The BOScoin ecosystem used the Proof-of-Stake concept of “coin freezing” to protect against forgery as well as provide rewards to the users. Here, a user can lock-in units of 10,000 BOS and receive an interest based on the number of frozen coins and the time of freezing. In case of attempted forgery by any node, a portion of the frozen coins is confiscated as collateral.
  11. BOScoin has a unique rewards system which deliberately separates economic motives from decision-making motives. Congress Network members can choose to maximize their revenue by freezing more coins in a single node or create more nodes for more voting power.

 

#3 – How to buy and store BOScoin tokens (BOS)?

How to buy BOS

There are only 3 exchanges which trade in BOScoin, which is surprising considering that the token is nearly a year old. The exchanges are KuCoin, BiteBTC and HitBTC, all of which accept Bitcoin. KuCoin also accepts Ethereum tokens in exchange for BOScoin.

None of these exchanges accepts any fiat currencies for the BOScoin tokens (BOS).

  1. These are just platforms where you can buy or sell BOS tokens, but help is often needed to decide which one to buy from. This help is what CoinSwitch, one of the largest cryptocurrency exchanges provides, by displaying the prices at the exchanges it’s sold in, all at one place. It supports more than 140 coins and 45,000 pairs of cryptocurrencies. You can choose any pair you want with your BOS token, and CoinSwitch will help you decide the best one for you!
  2. What’s more - with CoinSwitch, you need not rely on wallets on the exchange you’re buying from. Instead, all transactions can happen to and from your very own private wallets, the benefits of which we’ve spoken about here earlier.

BOS Storage

  1. BOScoin can be stored in its own native Web Wallet, which is compatible with any version of Internet Explorer which is IE10 and above, and also any other standard browser.
  2. There are no desktop or mobile wallets available to store BOS as of July 2018, but a mobile wallet compatible with Android smartphones is in the works and will be launched soon.

 

#4 – What is the future of BOScoin?

Also Read: Complete Analysis of BOScoin | Live BOScoin (BOS) Price Charts And Predictions

Market Cap and Global Acceptance

  1. The ICO for BOScoin tokens (BOS) was held between May and June 2017, raising 17.92 million in the process.
  2. The new coins, which are to be 5 billion BOS in total, are to be issued over a period of 100 years, and are distributed as follows:
    1. 0.5 billion BOS (10 %) are to be used as the initial development budget
    2. 1.8 billion BOS (36 %) are reserved for the commons budget
    3. 0.9 billion BOS (18 %) are for freezing rewards, and
    4. The remaining 1.8 billion BOS (36 %) are for confirmation rewards.
  3. The circulating supply of BOScoin is about 445.98 million BOS, with a market cap of about $34.58 million and an individual price of about $0.076, as of July 2018.

Price History

Date

Open

High

Low

Close

Volume

Market Cap

Jul 28, 2018

0.073771

0.077461

0.072637

0.073586

50,751

3,29,00,400

Jul 01, 2018

0.090941

0.091414

0.086878

0.088372

47,808

4,05,50,300

Jun 01, 2018

0.155796

0.155832

0.147288

0.151553

1,43,048

6,94,19,600

May 01, 2018

0.323634

0.342714

0.305862

0.334519

3,82,195

14,37,46,000

Apr 01, 2018

0.121832

0.124054

0.105302

0.117475

1,34,701

5,28,89,900

Mar 01, 2018

0.342759

0.363812

0.317761

0.321648

6,38,326

-

Feb 01, 2018

1.94

2.28

1.5

1.61

3,784

-

Jan 01, 2018

2.26

2.36

2.07

2.28

17,655

-

Dec 01, 2017

1.13

1.17

0.810466

1.12

22,812

-

Nov 01, 2017

1.61

1.61

1.06

1.13

29,072

-

Oct 26, 2017

0.716874

0.879866

0.711452

0.87693

27,934

-

Trends so far

  1. Though relatively new in the market, BOScoin has had its ups and downs. It started with an initial price of about $ 0.87 per BOS in October 2017, increasing to its maximum of $ 5.93 in January 2018. It later reduced to a minimum value of about $ 0.069 per BOS in July 2018.
  2. BOScoin is ranked quite high among cryptocurrencies worldwide in terms of market cap, coming in among the first 200 cryptocurrencies. It holds a position of 197 in global market cap rankings as of July 2018.
  3. The high position of BOScoin in global market cap rankings is an encouraging prospect in its favour. The idea behind Trust Contracts and the concept of decidable smart contracts shows great promise, and the future of this cryptocurrency seems bright.

 

#5 – What makes BOScoin different from other cryptocurrencies?

  1. BOScoin is a cryptocurrency which has quite a noble goal: it wishes to improve the security and usability of cryptocurrencies in general.
  2. Another thing that makes the cryptocurrency unique is the fact that rather than a single issuance period and method, the tokens of this platform are to be issued in four ways over a period of about 140 years, with a different issuance period for each method of issuance. This is unlike most other cryptocurrencies.

 

#6 – Should you invest in BOS?

  1. BOScoin has a high rank in terms of market cap globally, which makes it an attractive investment option for many people.
  2. The idea behind the currency is sound. It also seems to have a strong team with a combined experience of nearly 100 years in the core management alone, which is a factor working strongly in favour of the token.
  3. A maximum supply on the higher side also gives an assurance that there won’t be any hyper-inflation in the token anytime soon.
  4. Of course, the fact that its low individual price as of July 2018 means that you can invest in the token without risking bankruptcy is another point in its favour.
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