What Is Borachain (BORA)?
Borachain 2.0 was created to accommodate a wide range of game, content, entertainment-specific demands on blockchain technology, and to overcome the existing limitations of BORA 1.0. They aims to advance the level of transparency and to enhance user experience by introducing various products to support the ecosystem. They plans to establish an expanded ecosystem by actively engaging in community communication via various channels.
With BORA 2.0 renewal, BORA will realize vision to become the ecosystem to ‘Store, secure and grow your entertainment crypto assets’.
Borachain Storage Key Points
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
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|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
Enjoy & Earn
Enjoy IP based MMORPG, IP based Sports Simulation, Hyper Casual and etc. games to board on BORA! Earn NFTs of your favorite webtoon, webnovel, influencer, celebrity, and many other creations that will be revealed to the world by BORA! And watch as your entertainment digital assets multiply in value, all on BORA.
The Key Features of BORA
Strong Connection with Klaytn
BORA 2.0 can, through its connection with the public chain Klaytn, form various Eco-product. Furthermore, BORA’s assets could be of a reasonable value even in Klaytn.
As set out in the above Section 2.1, the BORA Economy already has the basic format of Eco-products such as Wallet, NFT, DEX, etc. However, these products would need to be re-developed or modified to suit the needs of the current users and be compatible with the development direction planned in the future.
These products that have been developed internally by the BORA Team for BORA 1.0 can be developed with various partners active on Klaytn from BORA 2.0 onwards.
PBFT and Governance Council
PBFT is a Byzantine Fault Tolerance model and has the advantage of resolving the drawbacks of PoW and PoS, such as the uncertainty in the penalty and efficiency issues. of resolving the drawbacks of PoW and PoS, such as the uncertainty in the penalty and efficiency issues. As with the Hyperledge Fabric, as the block is generated after a majority decision is made, there’s no branching that ensures finality. The PBFT operates as follows: firstly, the client broadcasts the request to all nodes. The Leader becomes the Primary and will consecutively deliver the instructions to the other nodes.
When each node receives the instructions broadcasted, it will proceed to send a response to all nodes, including the Leader. When each node receives the delivered instructions above a certain number, then it will re-send the received signal to all nodes including the leader. When each node receives above a certain number of received instructions, then it will perform the received instructions and register the block and return the replayed message to the client. Because the block is generated by a majority decision as compared to PoW or PoS, there is no branching of the blockchain.
As such, a block once confirmed will not be changed and can ensure finality. Further, as compared to PoW, there is no need to repeat the calculation until the conditions are satisfied, so there is an advantage of rapid processing. Should an attempt of improper use be made, there still needs to be a majority vote, and even if the Primary sends false information, if all participants monitoring the Leader’s movement determine that it is false, then they can request to change the Leader on a majority vote. As such, it is an algorithm with very strong fault tolerance.
Dynamic Token Economy
In order to form a vibrant BORA 2.2 ecosystem, we need to secure high-quality projects with various partners for the BORA environment in the early stages. With the current global Defi, NFT and GameFi fever, blockchain platforms internationally have been expanding on their individual ecosystem by competitively receiving large-scale investments and actively forming partnerships. In actuality, in the case of Solana, they managed to form a game fund of almost 200 billion by the end of 2021 and showed ambitions to onboard better projects in this market environment.
In addition, for better projects to participate in BORA, the expected value to be generated through BORA would need to be quickly increased. In the end, for better projects to actively mobilise, the outcome of the project has to prove its value.
Eco Fund and Community
They intend to form an Eco Fund so that they can discover good projects early and we can continually develop these projects so that various participants can expand the BORA ecosystem together for BORA 2.0. The BORC Eco Fund will be formed with the BORA Funding Network, which will include not only the BORA Network but also various Crypto Funds or Equity Fund Management Companies worldwide. Through this Fund, investment into Crypto Projects or NFT Projects that are based on contents, games, and entertainment would be carried, and we intend to strengthen working relations so that the key projects can onboard BORA.
Reasons for New Tokenomics
With the set goal of resolving existing challenges and fulfill the newly established growth roadmap, BORA Team is set to implement BORA Tokenomics 2.0. The direction or growth based on the main features of BORA 2.0 described above and the set goals are set forth.
- Issuance of service tokens and NFTs of various entities, strengthening the circulation environment, smooth management of providing liquidity.
- New ecosystem participants, implementation of GC regime.
- Implementation of an ecosystem restoration policy for participants.
- Ensuring sustainability of the token economy within the ecosystem.
- Forming Eco Fund, aggressive investment, and building an active community for the growth and development of the ecosystem.
Raising of additional finances, establishing plans for redistribution and new use of tokens, and a mechanism for managing token supply are essential for completing the aforementioned structure and meet the mid-to-long term goals. As a new token economy is necessary, with a current total supply of 1,205,750,000 BORAs, excluding the permanent locked up portion, BORA 2.0 is to implement an inflation schedule, a permanent lock-up model for fees, and devise a new token distribution policy and usage plan
On BORA 2.0, the incumbent BORA tokens owned by BORANETWORK. Pte., Ltd. and the new tokens generated according to the inflation plan are added and allocated to five distribution pools. Each pool and its portion are represented below