WAY2BIT Launches Transparent Platform for Blockchain Users

BORA uses blockchain technology to open up new possibilities

In recent years, Internet-based content services such as game, entertainment, social network, and communities have experienced large-scale growth. However, with the opaque disclosure of information, questionable safety of user data assets, and high cost of transactions, user motivation and participation is decreasing. As a result, content providers have to bear the pressure of rising costs to ensure user loyalty.

Industry pain points:

Reliability, authenticity, transparency, and security of information; Inability to guarantee the value of user data assets; Fraud and excessive costs of intermediary transaction processes.

BORA uses blockchain technology to open up new possibilities by reorganizing existing centralized systems into a distributed structure of computer networks. With this new infrastructure and appropriate business mechanisms, data storage between end users and service providers can be delivered transparently, allowing providers to archive distributed ledgers without having to store data directly. This circumvents risks of data tampering present in modern-day enterprises and can help solve the above industry pain points. Moreover, BORA reduces costs by eliminating high gas fees while using the Ethereum network, encouraging use of the platform.

The BORA platform is incentivized using the BORA Point (known as BORA Shell) Incentive Program, which provides benefits to all participants in the ecosystem by providing campaign rewards. This will lead to increased user retention and brand value, creating sustainability. The system is robust, and the inclusion of such a reward process will instill a sense of community among participants, driven by a token economy.

The current methods of content distribution are flawed, and it is difficult for users to verify that the data issued by providers is authentic. Transparency is lacking as content providers can control which information is recorded, stored, and shared as they control the servers and database. The accessibility of data by the providers can lead to falsification and modification of information without user consent.

The BORA team tends to mitigate the above issues and build a formidable brand by working to build a platform which solves transparency issues among content providers, especially those in the gaming industry. BORA will provide development toolkits to support and encourage developers in the ecosystem, and unlike traditional platforms, there will not be any entry fees.

The team believes that there is much room for growth in the industry, and with the BORA platform, they will build an ecosystem that promotes content circulation within a decentralized network that grows with the advancement of the blockchain technology.

BORA Project Progress Update

As shown on the project roadmap, the BORA team will launch a prototype of the BORA ecosystem in Q4 2018 with two operational applications. This prototype represents the platform’s first beta version and will be the first time that developers and users get to see the BORA development toolkit and block explorer. Both features are essential to the project. The block explorer will be used by BORA chain participants to track transactions and check the overall status of the ecosystem. The development toolkit is equally important as it contains the tools for developers to create content that they will share with users.

Also in Q4 2018, the project will release their back office beta and build the infrastructure for services. This is a demo version and though the public will get a first look at the ecosystem, it does not mean it is live. The team will conduct further UX/UI research and look into the platform’s interoperability, as well as begin to make improvements to ensure users are getting the best experience.

In Q2 2019, the BORA team will officially release the BORA portal. This is arguably the most important release as it includes the main chain and will provide a fully functioning platform that content developers and users can use to start creating, sharing, and viewing content. The BORA Ecosystem 1.0 will include a development toolkit, block explorer, and back office and partner portals. The development team will also take the opportunity to measure performance of the BORA blockchain and work to enhance its scalability, speed, and efficiency. Additional features will be added and updated as project development continues.

Q3 2019 is when the BORA team plans to officially launch the mobile app version of their blockchain platform. This is an important milestone for project adoption as the BORA ecosystem will instantly become more accessible to users and developers. During this period, the team will release updates to their development toolkit and introduce the BORA incentive program. They will also expand their market reach through global services and internationalization. The BORA team will continue to develop their UX/UI to keep their systems looking good and working effectively.

The current roadmap ends in Q2 2020 with BORA Ecosystem 3.0. This version will contain all planned features of the BORA ecosystem including BORA Arcade. This release will include another update to the development toolkit and version 2.0 of the partners portal. Payments will start, and the team will begin their token swap. R&D will continue for common algorithms and decentralized governance.

Currently, the project has completed the Q2 2018 BORA Token generation milestone and has entered the Q3 phase of the roadmap. The project is undergoing research and development of the alpha version block explorer. Current progress can be viewed on the BORA project GitHub: https://github.com/boraecosystem.