$BOA AMA May 20th, 2020 Recap
Let’s start with the introduction question:
Dears, @boaplaton and @sodamp, Many community members may never heard about BOSAGORA before. will you please introduce yourselves and BOSAGORA ?
Hi Jee, great to be here once again for the AMA. I and @boaplaton are both BDs for BOSAGORA. BOSAGORA aims to establish a decentralized, censorship-resistant blockchain platform where stakers (part of the Congress) can decide on what projects to support through a democratic decision-making process. BOSAGORA pursues the goals of democracy, legitimacy, fairness, transparency, and efficiency.
We are not a fork from another main net. Our protocol is based on PoS and is a full node based on open membership, meaning that the network is open to anyone who is willing to participate and earn incentives.
This is not an easy task and even some “successful” projects have failed to reach full decentralization or are based on PoW. We also plan on using flash layer, which is a built-in 2nd layer solution that can enhance scalability.
Our distinctive feature lies in the public financing of project proposals using the Commons Budget. The members of the Congress can vote on what proposals are attractive and doable and support the proposal.
Wow. I was writing stuff and… she goes BOOM
I go by “Sean” to make your life easier. and yes I do BD in bosagora.
Pleasure meeting you Sean
my background is from IT field and most of my career, i worked as consultant and developer. Now, i am exploring blockchain industry and its been about couple of years so far.
Question 1 by @ammarfares
A- did BOSAGORA fund any problem to support some ideas that required a big amount of money ?
B- what is your did you do to avoid pandemic effect?
Answers to your two questions would be A) Since our mainnet is not launched yet, and funding will be given by democratic voting decision-making process once the mainnet is launched, we will see Votera at work. WIth Votera, stakeholders within the Congress Network can participate in voting and funding of great ideas and projects. B) Since our main focus is on the development of our mainnet, our project has not been curbed other than its marketing approach. We had several offline events and conferences that were scheduled to be held and attended, which was postponed indefinitely. Rather than offline marketing, we have stirred our marketing direction online focusing more on community building, conversing online, and hosting AMAs and campaigns that can get viral and receive attention.
adding answer to B), you cannot avoid pandemic. there is reason it is called pandemic. but we try to survive in this situation and as you know, Korea is handling quite well. We are lucky I guess
Question 2 by @nandhas
1. What are the benefits of using Stellar Consensus Protocol in BOSAGORA ecosystem?
2. What is Trust Contracts and What are the roles of Trust Contracts in the BOSAGORA ecosystem?
1. First, it is fast. Second, the membership mechanism is open to public. This is key to decentralization.
2. Tc is basically very simialr concept with smart contract.
TC will help to run the businesses on our platform. it will be the platform for the dapps.
SCP simultaneously enjoys four key properties: decentralized control, low latency, flexible trust, and asymptotic security. (Reference: https://www.stellar.org/developers/guides/concepts/scp.html) We will incorporate SCP but after moderating it.
Question 3 by @malachi456
Marketing as well as Robust partnerships are the hallmark of good projects,
A. Can you explain more about your marketing and your present and future partnerships that will drive you to success.
B. The in February, you achieved implementation of preimage broadcasting, can you explain more about this PREIMAGE BROADCASTING. ALSO explain more about AGORA Validator development progress.
C. You were recently mentioned on Chosun, how do you deal view such important milestones and will it aid adoption of BOSAGORA
D. What’s the difference between COINNET and MAINNET
Tbh this project is pretty solid and ranked very well
Am sure binance is your way
If not, we are on the way to Binance 😀
Some questions seems like taken from previous AMAs… but lets answer for you guys.
b ) Pre-image is basically for nominating for next validator who is producing a block. Implementing the broadcasting of preimages ensures that registering as a validator in round R. Based on the white paper a node must broadcast the preimage every round from round R+1. Operating in such a way ensures that true randomness is achieved within the network without the ability to manipulate data.
Thanks for many questions 😀 A. We are currently meeting potential partners through which we can achieve the burn model for BOA. Since it is quite confidential, we will be sure to announce these partnerships when the time is right. B. Implementing the broadcasting of preimages ensures that registering as a validator in round R. Based on the white paper a node must broadcast the presage every round from round R+1. Operating in such a way ensues that true randomness is achieved within the network without the ability to manipulate data. To help guide you with the technical developments we make, we update the community through Development Team Updates made in the form of Sprints. If you join us in our Telegram Community: https://t.me/bpf_eng, you will be up-to-date with the details or follow our Medium channel: https://medium.com/bosagora C. We are honored to be noticed by Korea’s most reliable and major media, Chosun. We will continue our efforts to meet the roadmap and also do our due diligence of marketing our project. As part of marketing, we forge relationship with the media/press, hold AMAs, converse with our community, organically manage and foster online community on Twitter, Facebook, and Medium, and also collaborate with big influencers like @Eljaboom and last but not least, seek potential business partners. D. Coinnet is the blockchain with tx function, wallets, nodes and validators. After VM integration, we will start to call it Mainnet.
d ) We call it Coinnet since it will have only payment and blockchain. After VM integration we will start to call it Mainnet.
Question 4 by @Ikmat10
A. what are the most challenging experience you have encounter in the project and how were you able to over come them?
B. What are the long term benefits of $BOA to investors?
C.Can you give more details about staking on $BOA platform?
b ) BOA will be one of unique blockchain, its POS with built-in second layer. Also at the beginning of staking era, there will be quite good confirmation rewards.
c ) Currently we are erc20, when coinnet launches, you will be able to stake. you need at least 40,000 BOA to be validator. also there will be 2 weeks grace period of staking.
a ) Development. We are not fork of any project. we are building from the scratch. check our github and see the progress.
Question 5 by @Olonade02
Bosagora truly aims to help developing projects. So, how easy and affordable is your platform for new projects to develop, especially for novice DApps developers?
I see this is a question from our dear friend, @Olonade02 . Well-noted with thanks.
To make BOSAGORA open to many Dapp developers, we are using a language called D. Our main developers are D contributors also. It is similar to C++. Also we will utilize WASM, which will allow developers to choose the language they would like for their Dapps.
we think WASM will be next contract base. We are also planning to adopt it as well. We will probably support writing contract with Rust. Also, many talks about use cases and defi but still there arent many yet or some of them are failing. There are trends in this fast moving industry but we will build one by one and focus on what we can and what we should.
recently Microsoft started to suppport Rust really hard. So, it might help us as well.
Is there any tend to burn some tokens of supply in the future to stabilize the price?
Do you intend to expand in the Middle East?
Will the currency be included in more platforms soon?
1) Yes, we will have a burn model to keep the price of BOA in check and our ecosystem in balance. This will be announced in September. 2) We want to get our name out in all parts of the world, but through this AMA, we really hope the Arabic community can be more fond of our project for sure. Thanks to @Eljaboom! 3) We hope that there will be many more use-cases of BOA and Dapps after our mainnet is good to go next year 🙂
1. In your introduction video is said that BOSAGORA can help us build our ideas even if we don’t have knowledge about blockchain. But, what do we have to know to be able to get into BOSAGORA, and use the platform properly and efficiently?
2. Why is your own algorithm based on Stellar’s Consensus protocol? What is your relationship with Stellar Consensus?
Well.. it says “without” but yeah it only means that the blockchain tech knowledge. you should know your business and your code. and we will act as “accelerator” for your project.
and yeah. we could built our own but we adopted SCP and modified a little bit. Scp does not have staking concept. so we included it. Scp got a good concept and why not use it. also its built with C and easily utilize.(we ported to D btw)
It’s in Bittrex Global, Bithumb Global (including Bithumb), Coinbene, GDAC, and ECXX (FYI)
Question 6 by @musti675
What role does the community play in the #BOA? What have you done and will do to attract people to join #BOA and build a thriving community?
Without the community, BOSAGORA will not be known and there will be no early-adopters of BOA and users of BOSAGORA. Even if we develop an astonishing platform, but have no users, at the end of the day, it serves no purpose. We have collaborated and interacted with our community for BOSAGORA April Fool’s Day Meme Campaign, E-Hello Campaign, and Project Care (100 Care Kit Campaign for doctors and nurses fighting COVID-19). We want to thank the community members again for taking their time to be involved in these campaigns and acting together with the team. We are continuously promoting BOSAGORA through AMAs regularly. As we speak, we are now having an AMA with Eljaboom community members 🙂
Question 7 by @EslamASaber5896
$BOA now is defined as a token and its already on some known exchanges…well we gonna see $BOA has its own block chain…i mean as a “”Coin “” …and if it is..can we mine it? Or even cloud mining..? Am curious..
Oh. Yes. we are now erc20 token but we will have our own blockchain and own “coin” when coinnet launches. There will be swap process on our wallet and exchanges. when the time come we will announce now to swap the token to our own coin. after that, you will be able to “Stake” not mine. new coins. as well.
Question 8 by @ma6376
·With total supply 282،119،914 $BOA , will there be burn of some tokens to stabilize price in the future?
I think we already answered this. we will have a burn model to keep the price of BOA in check and our ecosystem in balance. This will be announced in September.
I had just answered that in live questions 😀 because many are curious to find out! and thanks @boaplaton
Question 9 by @rhythms29
I’d like to congratulate the BOSAGORA team for a job well done for the month of April. Quite impressive I must say.
A. you’ll now have 2 main focuses. One is which fine tuning the Quorum Balancing algorithm and the second being the development of the Administrative Interface.
Would you mind explaining what exactly is “”Validators”” in this case is, I’m a bit lost on that part. Thank you!
B. Covid-19 was unexpected and the teams abrupt shifting from offline activities to online is such an excellent response. Needless to say, you’re still on track. Though it leaves a question, what were the major changes that needed to be made in order to continue the path to success.
C. I must say, I was truly impress by your Say_ethanks, Say_ehello, & Say_ewhatsup campaign ads and somehow wondering why it has not fully made waves. Still, kudos on those campaigns. When will we expect more community driven projects/campaigns such as these?
D. what would we as users should expect this year as part of the growing community and possibly the head start of your influencers.
Thank you, first of all, for your kind words. We really put all our efforts into this project. B) When you have more than sufficient resources at your hand, you have less risk and can go through “”trial and error.”” However, since we consider this time in hand quite critical and making right choices that reduces the costs and burden from trials and errors, we are sticking very much to our core development and online marketing activities to minimize risk, trials, and errors. C) Thanks for following through our E-campaigns. It was our first try at online campaign requesting our community members to participate with us. I am sure our members are new to them and it takes time to make a eco through our community. After trying e-hello campaign, that is why we had a go at Project Care, in which 100 community members left their sincere messages to doctors and nurses battling with COVID-19. We appreciate your time in chiming into these campaigns once again. D) We are looking greatly forward to the launching of Votera, democratice decision-making tool to be integrated into our mainnet. You will be the first to know when it is open for beta testing and first to try them out!
a ) QB happens every 6 rounds (this is current config and can change) and it is needed to insure new node can join to the network and also detecting “faulty” node in the network. so… blockchain network will be set of nodes. right? but the node who can sign and mint new block, is basically the VALIDATOR. the validator will create new block just like miner in BTC. and he/she will receive confirmation rewards.
Just to give you an idea of what Votera looks like and what it does, I wanted to sure with the community the interface, since we have been working on it.
Question 10 by @king_raja
As we know Covid-19 has affected almost every industry,
How it has affected BOSAGORA’S growth?
What steps you guys are taking to deal with it?
The answer to this question was answered beforehand, but to recap nothing major has changed according to our roadmap and plans. We will launch coinnet and mainnet next year and open Votera to the users by this year’s end (2020). We are putting all our efforts and resources into development and planning of Votera (as shown above) and coinnet.
So what interests you about Eljaboom? You think he can do some magic and bring adoption to Bosagora?
Thanks for your interest
But at the end am just a platform to be used
Experience and business understanding can be different from a platform to another
The latest focus and trend in blockchain is gaming and DeFi. How efficiently can BOSAGORA serve as a platform to serve these two functions?
we know that whats trends and whats hot. but… we are building our blockchain now. when the times comes we will announce more partners. but we do carefully and one step by one step. we are not the project that follows and trends i guess.. we are just going our way.
Having a ROADMAP can help to achieve your GOALS and MISSIONS
Can you share your Roadmap in 2020?
What are also your Goals and Missions?
We have updated our roadmap to reflect our developments https://bosagora.io/tng/. Please check our road map for detailed information. I think I was a bit late in introducing you our goal and mission. Our mission is to make a better world. The mission is grand, but we really believe that blockchain technology can make this world better and as explained earlier we will act as a project enabler allowing Congress Memebers the technology and tools to vote and make decisions on which projects and ideas to fund.
Question 11 by @ruhel00786
The KEY to the REVENUE that will power the platform’s future development and success
is COSTUMERS, What is your BUSINESS MODEL that highly beneficial for your Costumers in able to generate Revenue?
I think Elja just mentioned 🙂 That there needs to be a BM. Commons Budget itself makes BOSAGORA’s ecosystem sustainable. The allocation of funding for business ideas and proposals comes from the Commons Budget. Proposals that garner approval from the Congress Network will be able to access funding that can benefit the entire ecosystem. Relative to the revenue that will be gained from them, BOA will be burned (TBD).
the value will come after more use cases.
Question 12 by @irdcryp
How is the cash flow in the BOSAGORA project ? given the rigorious market situation can you still cover your cost ?
yes. we are fine. we have our foundation in Switzerland and the foundation is handling finance. we are good to go.
Question 13 by @putramalu66
A. What killer features has Bosagora that are ahead of the competition from other projects and how does fetchintend to open up the project and product to the community, reasearchers and enthusiasts, So no one will stop this and it continuously improved on?
B. Adoption is a headache challenge for every blockchain projects, especially at this sensitive period of the whole market when many blockchain projects were dead since no-one uses their blockchain.
A. Our unique feature lies in the Common Budget and Congress Network, as complimented by Elja as “beautiful.” They have been explained in more detail in our previous questions, so I will not go on to explain about them though. B. As per adoption, we level our eyes to the “average Joe.” When we plan and develop, our development team, designers, and marketing team members discuss whether this is easy for our moms, dads, and people who are not so familiar with blockchain and crypto.
b ) yeah. lots of project are facing same issue. we are building our own services on top of our blockchain and also we support our partners to be succesful with us. building takes time and effort. some will succeed some will fail.
Question 14 by @Sungem
Please give me the Biggest Final Remarks,How do you think about the future Decentralized network ( $BOA) in blockchain technology?
Our mission is to “make a better world.” As a project enabler meaning that great ideas and projects can be realized through the Congress’s approval and financial support that can be won through the Commons Budget, we would like to contribute to a better world with blockchain technoloygy and BOSAGORA ecosystem. At the end of the day, we want to achieve decentralization and honor true democracy.
decentralization is the key imo. we are all here for this.
Question 15 by @Oluwamayowa06
A. The latest focus and trend in blockchain is gaming and DeFi. How efficiently can BOSAGORA serve as a platform to serve these two functions?
B. Bosgora has included Flash Layer technology. Can you tell us about this tech? What functions and roles will it serve, including the extra benefits it brings?
C. Why are you using Defora for privacy and not others like TOR and VPN? What makes Defora the best option to ensure privacy in Bosagora?”
a ) already answered
b ) its built-in 2nd layer solution. its like bitcoin’s lightning network. Scalability is the big issue still. Thats why we think 2nd layer solution is the answer for that. Bloat in blockchain will be issue for everyone and thats why we think storing all the data on blockchain is wrong aproach. We call it Flash layer and it will be built in solution on top of our blockchain.
c ) Voting will be eventually recorded on blockchain. However, Defora is the tool for Congess that they can discuss and vote. It will have AAID tech inside which is based on homomorphic encryption. user’s privacy will be safe. The only thing we will know about the members will be if they are “Validator” or not.
btw, we dont use defora anymore. the tool will be “VOTERA”
changed the name of the app.
Yes, it is renamed 🙂
Can we make an $BOA arabic community ??
Be careful what you wish for
So after COVID-19 lockdown, I really do think the supporters should meet or something like that. You’ve got similar thoughts or plans?
Let’s have a zoom call sometime 🙂 Great idea.
BY HAVING A TRANSACTION FEE OF “0.01 BOA”, IS THE LONG-TERM SUSTAINABILITY OF THE PROJECT GUARANTEED?
In a nutshell, you must stake 40,000 BOA for 14 days to qualify as a validator.
1.Does the $BOA have its own wallet in the future?
2.What are the benefits that attract more people to hold $BOA?
yeah. it will. we will be own blockchain in the future.
after launch of coinnet, plz join as validator and become congress member. in Votera lets discuss how we work together.
IN SUMMARY, WHAT IS THE PROCESS FOR A NODE TO BECOME A VALIDATOR?
I answered above 🙂
Question 16 by @yousef_moh77
No one can achieve anything valuable on its own, please tell us about your current and future partnerships that will lead you to success in this highly cramped crypto space?
We will announce partnerships when we believe it is in the right time to announce them. We value partnerships with the exchanges we are listed in and our business partners. We want to make sure we are making public announcements at the time that is most appropriate for their business and ours.
Question 17 by @dustyllanos
A. First, Congratulations on your 1st Anniversary.
now, Can you Sum Up what happened in the span of 1 year for BOSAGORA?
and What is Next for You?
B. You are one of the most active Projects in Fighting Covid-19.
May I ask, What is the are TEAM’s Initial Plans after all this Pandemic settles down?
Thanks for congratulating us of our 1st Anniversary. This is the thank-you message to our dear supporters from the BOSAGORA team. https://www.youtube.com/watch?v=dWkecmD8Vw4
We have done so many things in a very short amount of time 1) rebranding, 2) community building, 3) white paper and homepage updates, 4) listing in major exchanges. The next for us is now 1) development and launching of Votera, 2) launching of coin net and main net, 3) announcing partnerships, and 4) introducing our burn model. With regards to your next question, we would like to resume with #SavetheWhales project, that we had to postpone due to COVID-19. We would also like to hold meetups overseas as well as attend blockchain events and conferences.
Question 18 by @ixkillax
A. How does your Modified Federated Byzantine Agreement (mFBA) consensus algorithm work?
B. Coming from a Stellar’s Consensus Protocol, how do see projects come about in 5-10 years from now?
a ) mfba is FBA(SCP) + staking. basically the voting and ballot of the data is correct among the nodes, will happen following SCP (this will get too technical and long) … but staking is quite similar what ETH is adopting. you can stake at least 40,000 boa to become validator.
b ) …. 5 years? this is fast industry and we dont know where it goes. but, we will have our mainnet in the future. and we will have dapps. and we will see blockchain adoption.
Question 19 by @luanttt
A. What do you to for increasing BOA Value & Real demand of the BOA Token?
B. How does POS work? Will you launch it in all of the world?
A. As mentioned before, to increase BOA’s value, we are constantly forging partnerships with business partners, developing our core as well as key functions such as Votera, create use-cases for BOA, as well as planning out BOA burn model. Through monthly newsletters shared via email, medium(https://medium.com/bosagora), and telegram(https://t.me/boa_announcement, https://t.me/bpf_eng), you will be able to stay up-to-date with our developments and partnerships. B. We have touched on PoS feature of BOSAGORA in previous questions, but once again the gist of it is that you must stake 40,000 BOA for 14 days to qualify as a validator.
Thank you so much, appreciate everyone being here.
Very good questions and great answers
Dears, @boaplaton and @sodamp
Thank you so much
Please all join BOA telegram group https://t.me/bpf_eng
Thank you guys for coming
Thank you very much!.
Thank you Jee and Elja for arranging the AMA, we really are happy with the session. We hope to revisit you again and we really love the Eljaboom community. Thanks!!! You #HODL, we #BUILD
Another awesome AMA concluded at Eljaboom Crypto Telegram Group, the AMA about BOSAGORA project was very interesting and educative, even with the limited time the guests had, they answered all questions with patience and in great detail to everyone’s satisfaction.
BOSAGORA Official Announcement: https://t.me/boa_announcement