Hello and welcome to this blog post about BORA White Paper. I am very excited to know that you are interested in this amazing technology, you will be going to amazed by the incredible potential of the blockchain.
There is a lot to learn about this futuristic tech, lets get started to dive into the BORA white paper and start to leverage it to build a more secure and trusted ecosystem for Industry 4.0 applications.
The aim of this blog post is to help you quickly understand about the philosophy behind the BORA (BORA).
I can ensue you that, you will be able to understand every bits and pieces related to BORA (BORA) after going through the BORA white paper.
Without wasting any further time lets get started to dive right in and lets understand white paper first.
What is white paper?
A white paper is an informational, influential, well-structured document, usually published by an organization, to provide in-depth information about a specific solution.
A white paper is used to provide a good insight into the challenges for a specific problem and a proposed solution for the same.
BORA White Paper
BORA white paper will be going to provide you, all the information that is needed to get started with BORA (BORA), including the inspiration for creating, the problem it is trying to solve and the solution proposed by BORA (BORA).
“ Internet-based content businesses like video game, social communities and entertainment have grown on an immense scale. But a lack of transparency and disclosure, the ever-present risk of user asset loss, transaction risk, and the high brokerage costs may reduce user motivation and immersion levels.
As such, content providers today are required to increase their efforts to secure loyal users. While some content providers may want to implement blockchain technology, many find the application of new technology and entering into a young market to be a heavy burden. Unfortunately, the current state of developmental support and mitigating risks for blockchain-related projects are still lacking.
The BORA Platform ecosystem is a solution designed to resolve these issues. The BORA Platform design consists of an internal blockchain (BORA Chain) and the Ethereum public blockchain linked together.
It aims to provide the high transaction throughput and expandability required for commercial content application services. BORA Chain is designed with a modular architecture, and the modular design allows each application on the platform to enjoy independent service environments.
Tokens for internal circulation (BORA Points) within the ecosystem exist within the BORA Chain, and are linked to ERC-20 tokens (BORA Tokens). Through this structure, user assets are protected, and the transfer process to BORA Tokens and execution is ensured.
As a result, user assets are no longer in a structure that is dependent on existing content providers, but rather exist with the user and ecosystem. Content providers do not need to separately develop new blockchains, and can participate in the decentralized ecosystem using the web interface and API provided by the BORA Platform.
The BORA Platform ecosystem will also consist of the BORA Point Incentive Program, which aims to benefit all ecosystem participants and is operated based on smart contracts. Blockchain-based promotion campaigns and rewards programs can be applied to radically improve user retention, ultimately resulting in an increased service Lifetime Value (LTV).
The BORA Ecosystem is designed so that all participants can contribute to the ecosystem and receive reasonable rewards, with voluntary and continuous user activity all driven by the token-based economic system and incentive mechanisms.
Behavior that is inappropriate for the ecosystem can be self-regulated as it does not benefit anyone in the ecosystem (including the perpetrator), and content providers within the ecosystem can share the goal and motivation to compete in good faith through service quality improvements rather than unfair practices.
The BORA Platform’s first goal is to use trial services for fast network and ecosystem verification, leading to commercialization. Video game fits this goal best, considering its factors of popularity and intuitiveness.
Thus, the developer that entered a partnership with the BORA team is developing a game for the trial 8 service that will be linked with the BORA Chain. The blockchain technology industry is still in its infancy but is continuously advancing and growing.
The BORA Platform also has a road map to enhance the platform and BORA Chain while extending the ecosystem range, matching the advances in technology and ecosystem growth.
Through a series of processes, we ultimately seek to build and grow an ecosystem that promotes content business circulation and continuous user activity within a decentralized platform environment.”
White Paper Link: BORA White Paper
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