There are not many articles talking about BOSCore, thus I would like to give a brief introduction on this side chain of EOS, which the mainnet was launched on Jan 17th, 2019. Why this project is popular among the EOS community, even BM has given his insights or compliment on BOSCore in telegram group?

Here are four reasons:

1. BOSCore reduces the high entry barrier for end users to join the ecosystem. BOSCore team has done airdrops and also used a system of a minimum guarantee of CPU resources to reduce the friction for end users to enter this ecosystem.

2. BOSCore changed the consensus algorithm from Pipeline PBFT used by EOS Mainnet to Batch PBFT. This solves the issue of waiting too long for the Last Irreversible Block(LIB) of EOS main network, shortening the waiting time of LIB to confirm an irreversible transaction from minutes to seconds. This has a significant impact on a real-world application, which needs irreversible confirmation in seconds.

3. Inter Blockchain Communication (IBC) with EOS main chain. BOSCore has provided a secure channel IBC for tokens to be easily circulated between BOSCore side chain and EOS main chain.

4. BOSCore has a special incentive for dApp developers, which reduces the barrier for starting a dApp compared to EOS network. The cost of starting a dApp on BOSCore is much cheaper than those on EOS.

I will elaborate more on each point further below.

1. Airdrops

The BOSCore token has been airdropped to all EOS account holders.

The initial issuance of the BOSCore token was capped at 1 billion.

100 million were airdropped (50 million were airdropped directly to the EOS main network account holders, 50 million were airdropped to those who made transactions on the dApps and nodes on the chain).

100 million were allocated as strategic partnership funds for dApp investments and BOSCore operations.

400 million BOSCore tokens will be used as ecosystem growth and subsidies for payments and BOSCore trading operations generated on the BOSCore chain.

200 million will be allocated to the founding team and be unlocked within four years.

200 million will be allocated for private placement, and it will have four rounds, 50 million for each round.

There will be an annual Inflation of 2 %, of which 1% will be used for BP incentives, 0.8% for developers, and 0.2% for governance.

A snapshot was done at 17:50 pm Singapore time on 1 January 2019 for the airdrop. This airdrop covers all accounts with a 20:1 ratio for EOS to BOS with a minimum amount of 0.5 BOS. A BOS account has been created for each EOS Account, and 0.5 BOS resources have also been distributed, 0.3 BOS RAM, 0.1 BOS NET and 0.1 BOS CPU respectively.

In particular, the permissions for multiple accounts such as contracts will be mapped to the BOSCore main network account together.

In addition to the 50 million airdrops to the EOS account, the remaining 50 million airdrops will be airdropped according to the actual situation of the dApps and the BPs, which incentivize the entrance of the dApps.

Batch PBFT

BOSCore’s consensus algorithm is based on PBFT theory with improvement to EOSIO code. Under the premise of ensuring Byzantine fault tolerance, the following guidelines are used:

1. The DPOS mechanism is retained, and the synchronization clock and block order are strongly constrained, just like EOS.

2. Part of the Pipeline PBFT consensus logic was removed, to be exact, the implicit and explicit confirmations of the original block production were removed to avoid results conflict with PBFT consensus in extreme cases.

3. The existing P2P network will be used for consensus Communication mechanism. PBFT mechanism will be used to prepare and commit broadcast messages and ensure that the communication costs are within acceptable range;

4. In order to reduce the load of the network and approach the ideal state of real-time BFT, the relevant information of several blocks is broadcasted at one time and the batch consensus is used to replace the consensus requirement of each block in EOS, which is compatible with the continuous block-out feature of DPOS.

IBC, Inter Blockchain Communication

The decentralized Inter Blockchain Communication is based on the Light Weight Client and the SPV / Simple Payment Verification

Light Weight Client: consists of a chain of blockhead that takes up very little space

SPV: uses the Merkle path to verify whether a transaction exists in a block.

The adopted Approach has the following advantages:

Completely decentralized. The lightweight client is implemented in the smart contract when the correct initial block information is initialized, the contract can verify the validity of all subsequent blocks independently without relying on the trust of the relay or external information of the contract.

Lightweight. The lightweight client does not need to synchronize all blockheads of the original chain continuously, but only need to synchronize part of the blockchain to obtain the trusted blocks to verify the transaction.

Fast cross-chain transactions. A cross-chain transaction takes less than 3 minutes from generation from its own chain to generation of the corresponding transaction in the target chain.

Parallel cross-chain transactions. Different cross-chain transactions do not affect each other and can be executed in parallel, thus supporting a large amount of concurrency.

Security. Due to the use of BP signature validation and strict logical checking, it can ensure the correctness of the client, and can not be hacked by malicious attacks, so it can safely verify the authenticity of transactions.

dApp FUND

At present, the official website shows that the first phase of the dApp Fund is 80 million BOS Tokens, which is part of the 400 million described early. However, it is still unknown how much more of that 400 million will be allocated to dApp Fund.

BOSCore side chain is supported by many EOS Ecosystem participants, such as Huobi Pool, ZB-EOS, EOS SW/Eden, EOS Nation, EOSDAC, Ant pool, etc. Many of the world’s BPs are partners to BOSCore. Besides, Hoo wallet, the TokenPocket Wallet, and the EOSX Browser are also supporters to the project. For details, please check the official website www.boscore.io.

It is widely accepted that it is still the early stage of Blockchain, the biggest bottleneck is still the development of the technology, especially the performance of the public chain and the speed of large-scale application. For EOS, one of the issues is CPU, NET, and RAM. Even if the CPU could be ten times faster in the future, RAM will still be limited by the capacity of a single server. Therefore, there will be a natural need for more side chains in the future, ad this will also complement to EOS.

Summary of Advantages

The direct effects are as follows:

5.1 shortens the confirmation time for the irreversible transaction and expands the potential application scenario.

BOSCore changed the consensus algorithm from Pipeline PBFT to Batch PBFT, which reduces time in reaching Lib (the Last Irreversible Block) on EOS main network from minutes to seconds.

The key point of the optimization is to use batch consensus, broadcast multiple blocks of relevant information at once.

5.2. Lower the entry barrier for dApp

BOSCore has a special incentive and inflation tokenomics, which lowers the entry barrier for dApp developers.

To start a dApp on EOS main network, a huge amount of resources such as CPU, RAM, operating costs, Wallet Channels, etc. are required, which leads to a high entry barrier for starting dApp.

BOSCore supports the development of dApp from annual inflation and dApp Fund.

1: 0.8% out of 2% inflation goes directly to developers.

2: dApp fund will incentivize developers to join the ecosystem.

5.3 MORE FREEDOM FOR DIGITAL ASSETS

The inter-blockchain communication function supported by BOSCore will influence the operation model of the whole blockchain industry. All kinds of digital assets can be linked into a network through IBC. Assets, including BTC, ETH, EOS, or other tokens, can be traded and transferred to the BOSCore chain, which ideally functions as a free port for digital currencies. BOSCore will bring a fast trading system with significant throughput. In addition, low account-creation costs will attract businesses and applications from all over the world, which in turn will enrich the BOSCore ecosystem. When a user holds ETH, BTC, EOS at the same time, the user can import these tokens into the BOSCore chain through a cross-link channel and create BOSCore-ETH, BOSCore-BTC, BOSCore-EOS on the chain. We call these BOSCore assets. BOSCore Assets then could be used in consumption, investment, entertainment, and other activities in the BOSCore free port. The developers of dApps can provide various services for users in exchange of the assets.

I hope this review will you an idea on how BOSCore is trying to build in the long run with its technological advancement. We welcome all potential business collaborations. For any inquiries, please do not hesitate to contact us.

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