BOSCore will become a Free Port for Crypto Assets, a BOSCore initiator says

The article is a translation from Interview of BoLian Finance.

The guest:

Mr. Huaqiang Wen, initiator of BOSCore and CTO of Huobi Pool (hereinafter will be referred to as Wen)

The hostess：

Yuanyuan Fan, partner of BoLian Finance (hereinafter will be referred to as Reporter)

Photo Credit to BoLian Finance

Record of this interview are as follows:

Reporter：Could you brief us on what is BOSCore？

Wen: BOSCore is an EOS side chain that was launched by more than 100 people from over 50 EOS block producers globally.

At present, more than 100 block producers have registered on BOSCore, which makes it the most influential side chain in the EOS community.

Standing on the shoulders of EOS, BOSCore has also made lots of improvements and strengthened itself.

Original aspiration of BOSCore: To make EOS better and scalable

Reporter: When and why did you guys decide to launch BOSCore？

Wen: In September 2018, 3 months after the EOS MainNet launch, the BOSCore project was initiated and several block producers were gathered to work on it. Then more EOS block producers joined BOSCore project. It is worthwhile to mention that the original team of BOSCore had launched the CryptoKylin Testnet before.

BOSCore have fully witnessed and understand the development of the EOS ecosystem and its technical status quo. It is impossible for the EOS MainNet to realize its million TPS goal only by the single chain itself, which means ‘EOS MainNet plus multiple side chains’ is the best solution for a scalable EOSIO. Thus the original aspiration of the BOSCore team is simple: to strengthen a scalable EOS.

On January 17, 2019, the BOSCore side chain was launched, supported by the community.

Reporter: Which improvements have been achieved by BOSCore since its launch, that you are you proud of?

Wen: Technically, we are most proud of our breakthroughs in BOS IBC (Inter-Blockchain Communication) and Batch PBFT, which were already shared and open sourced by Simon from EosStore and Deadlock from EOSIO.SG.

The BOSCore IBC design, based on the SPV(simple payment verification), is a two-way, decentralised, lightweight and secured cross chain solution. With IBC, EOS tokens can be easily transferred from the EOS MainNet to the BOSCore side chain, giving more choices for DApps on the EOSIO software. That means, a DApp can guide its users to the BOSCore side chain when the CPU of the MainNet is busy.

The next big event is the reform of the consensus mechanism, equivalent to add a Turbo to EOSIO from the original PipeLined BFT to Batch PBFT. The updates will not change the number of the block producer and its producing time, which means there are still 21 BPs, 6 blocks for each BP and 0.5s for a block to be produced. However, the last irreversible block(LIB) is shortened from 3mins to 3s. The 3s data is achieved under test environment of 21 globally distributed block producers. With a shortened confirmation time, payment via blockchain can be comparable to AliPay and Wechat Pay.

Also, the BOSCore team has optimised EOSIO code to provide a better user experience of the technology. For example, basic resource is allocated to all users to guarantee that they can stake tokens and access resources for themselves at any time, and some configuration details for block producers is moved on chain to protect users from asset-lost owing to some BP administrator’s negligence of adding blacklists.

Over 50 EOS block producers globally participated and witnessed the launch of the BOSCore side chain, which is the highest recognition given by the EOS community to the side chain.

Next, the ongoing work of promoting the development of DApps is the most important mission for BOSCore.

BOSCore is not only a side chain of EOS, and it will also become a side chain of other public chains like Bitcoin and Ethereum.

Reporter: We all know that EOS has several side chains. Why can BOSCore stand out from the rest?

Wen: BOSCore is not only a side chain of EOS, it will also become a side chain of other public chains like Bitcoin and Ethereum.

BOSCore provides the most powerful underlying technical support for DApps, and any crypto assets can be freely traded on BOSCore.

The biggest advantage of BOSCore is the support from the EOS community, the leading representatives of the blockchain 3.0, which empowers BOSCore with technical and operation teams. The technical team of BOSCore consists of many EOS block producers with powerful underlying public chain technology. (The executive team of BOSCore are shortened as BET）

When talking about BOSCore, we have always been emphasising that it is a side chain of EOS, as it wants to co-build the EOS ecosystem with EOS. BOSCore is not a rival of EOS, and any industrial development would require collaboration. To that point, I believe BOSCore can do better than any other projects.

Reporter: Why does the blockchain world need BOSCore？

Wen: Because the blockchain world needs more people to join in and BOSCore can make it more wonderful.

Reporter: Why is BOSCore the best choice for game DApps to build their ecosystem?

Wen: Blockchain has such features as irreversible ledger(information can not be tampered), transparency and decentralisation(free markets). All of them make blockchain suitable for products related with asset and payment, and we can help developers to deal with such kind of problems.

Game industry is where the user’s digital assets are most centralised, especially online games. Thus it will be the easiest and fastest for us to see the result if we use the blockchain to upgrade traditional games, as there won’t be the same security burden for games as the financial system, and there is not too much privacy protection issues as with the social network industry. Game DApps are definitely the fastest growing of all types of DApps.

Born for DApps, BOSCore will start with game DApp ecosystem development, which is recognized by BOSCore execution team. Later BOSCore will unveil more incentive plans for game DApps.

Technically, BOSCore inherits all advantages of EOS as a blockchain 3.0, featuring high TPS, zero transaction fee and an advanced smart contract system. It will make us feel like stepping into the Smartphone era from the Feature Phone era.

Meanwhile, BOSCore has made breakthroughs in IBC and consensus mechanism. Next, the side chain will introduce oracle, building a bridge between the blockchain world and the Internet. We believe that technology upgrades are absolutely the biggest drivers of industry development.

Game DApps are absolutely the first to gain momentum and BOSCore is well prepared for that.

The tipping point of DApp development lies in the upgrade of technology and user experience

Reporter: How do you view problems of low active users faced by current DApps? What are main factors that constrain the development of DApps？Where do future breakthroughs of DApps come from?

Wen: Personally speaking, the development status of current DApps on EOS is quite good. In 2018, we witnessed a data explosion powered by betting DApps and games of mining cryptocurrencies(daily transaction amount was equal to several billion Yuan). Now the DApp industry turns back to rationality.

EOS takes the leading role in DApp ecosystem. Of course, there are also many problems encountered in the whole DApp industry. We have to say, though the blockchain world is embraced by more people, the total number of blockchain technology users is only about 20 to 30 million, far less than that of traditional Internet. This sharp contrast is related to the lack of a user base, user experience, the number of developers and the investment by big companies and institutional investors.

Now it is the transition period from traditional Internet to the blockchain, or we can say it is the beginning of the application of blockchain technology. For people in the blockchain industry, it is a time full of opportunities and challenges.

Problems like less DApp users and low user activity are common for all current public chains. The nature of these problems is that there is not enough good products and insufficient industrial momentum.

In other words, the best opportunity has not yet come.

Future breakthroughs lie in the upgrade of technology and user experience. At that time, DApps may also need to make more product innovation to meet users’ demand.

For example, when entering from the PC Internet era into the mobile Internet era, we found the design of the mobile App is very different from that of the PC, as there are limitations on the mobile phone screen, traffic bandwidth and battery, and as the user experience is a lot different from use of the PC. It would be a bad practice if a company adopted their ideas in PC internet era to develop mobile applications, as it would make the company lose the momentum of new user growth.

Similarly, when forwarding from the blockchain technology to blockchain applications, DApp developers will face some limitations as detailed above. When dealing with these obstacles developers need to realize that the blockchain can not solve all problems. Blockchain has such features as irreversible ledger(information could not be tampered), transparency and decentralisation(free market). All of them make blockchain suitable for products related to asset and payment systems, developers have to deal with these kind of problems.

The reason why Crypto Kitties on Ethereum and betting games on EOS were once so popular is that both of them took advantage of the blockchain features. The whole DApp industry can learn from these DApps.

It is very important to learn from Crypto Kitties and EOS gambling games, which is similar to how the iPhone 3 became a design reference for big-screen smart mobile phone. Without the iPhone 3, maybe we would now still be using Nokia’s keyboard phone. Of course, if there was no Android for the first generation phones, current mobile giants like Huawei, Samsung, Xiaomi and OPPO would have appeared, and the popularity of smartphones would not have been as fast. That is why I said ”the best opportunity has not yet appeared” before.

The DApp industry relies on more people and companies to work for its development, and in fact, it is like a multi-industry(cross-industry) integration. Forerunners should guide and lead the development of the whole industry, which is also one of the missions of BOSCore teams.

Reporter: As of now, which DApps are running on BOSCore？Could you tell us about their data?

Wen: From the main-net launch on January 17, 2019 to now, there are 3 decentralised exchange, 10+ games and some tools running on BOSCore. DApp data analytics, with the exception of EOS, the side chain is on the same magnitude with with other public chains.

DApp data growth is one of the most important focus points for BOSCore.

BOSCore is pre-releasing a popular game called Dragon Master Ancient War, which now has over one thousand active users. The number of its active users is still small, compared with traditional games. However, Rome was not build in one day and all good products need time to develop themselves.

100 million BOS eco-fund inspires people to contribute to BOSCore ecosystem

Reporter: What is the purpose of launching the 100 million BOS eco-fund and where will it be used? What are the criteria and requirements for rewards?

Wen: The aim of setting the 100 million BOS eco-fund is to invite more people to build the BOS ecosystem, to establish projects through the referendum and to pay for the teams or individuals who make significant contribution to the community or ecosystem, which is the most important embodiment of the community drive.

There is only one requirement for the people to participate in the reward program, which is to contribute to the community and ecosystem. It is a voting system based on the token holder’s intentions. The BET (BOSCore Executive Team) review the delivery results of the project and gives opinions. All projects are initiated by the community and decided upon by token holders and 21 BPs. The blockchain is decentralised, which means that most people will not support evil practices .

Huobi Pool is a supporter and driver of BOSCore

Reporter: What is the relationship between Huobi Pool and BOSCore？

Wen: Like EOS, BOSCore is a project driven by the community. Huobi Pool is a very important support and driver for the side chain.

Reporter: What has Huobi Pool done? What blockchain projects does Huobi Pool involved?

Wen: Huobi Pool as one of 21 BPs is a significant part of the EOS community. It continuously keep eyes on and participates in the development of the community.

In the beginning, it developed an EOS voting platform for exchange users, enabling them to vote for block producers without transferring their tokens from Huobi exchange to the EOS MainNet. Later, Huobi Pool co-initiated the CryptoKylin Testnet with several EOS block producers and now BOSCore.

Here I want to give special thanks to Winlin from EOS Bixin, Simon from EosStore and all friends in the BOSCore teams.

Goal of BOSCore: Build a free port for crypto assets

Reporter: What other plans does BOSCore have for the future?

Wen: BOSCore aims to build a free port for crypto assets, like China’s pilot free trade zone. There is a long way for BOSCore to go.

All work in the future will follow this goal.

On technology, BOSCore will continue making improvement on the performance of public chains(TPS and confirmation time) through IBC(multi-chains), security level(the underlying and contract security), providing a stable and high-efficient underlying system for DApps and giving users a better experience.

The operation team will continue popularizing knowledge of blockchain and help more DApps come into being.

Questions by netizens

Q: What is the relation between Mykey and EOS?

Wen: Mykey is a new account management system on the application layer to lower threshold for users. EOS is the operation system on the underlying layer.

Q: Will BOSCore launch its hardware devices compatible to DApps?

Wen: BOSCore has no plans to develop any hardware devices.

Q: How about the BOS token? Any plan for it?

Wen: BOS now is on private sale and going to be listed on more exchanges in the second half of this year.

Reference: https://mp.weixin.qq.com/s/dOYVRFOmzBleNqWZeXRF8g

BOSCore links

Email: support@boscore.io

Telegram group: https://t.me/boscorecommunity

Twitter: https://twitter.com/Boscore_BOS

Facebook: https://www.facebook.com/BOSCore.io