BOScoin, Self-Evolving Cryptocurrency Platform for Trust Contracts

BOScoin: Self-Evolving Cryptocurrency Platform

BOScoins decision-making process will be made by a Democratic Congress where node operators will have one vote for each node. BOScoin holders who want more than one vote will have to forgo rewards and need to have a separate IP address for each node they control.

BOScoin constitutes a governance system whereby node operators referred to as the Congress Network can participate in creating and voting on proposals in order to continuously improve the software and ecosystem. The Congress Network interacts with non-congress users in three ways; transactions, proposals and coin freezing.

You will be regarded as a Congress member if you meet the following criteria:

a) You have Internet access with stable network speeds.
b) You freeze at least four units of BOScoin (40,000 coins).
c) You participate in voting.

New coins are issued in four ways;

Initial development budget (0.5bil, 10%),
Confirmation rewards(1.8bil, 36%),
Freezing rewards(0.9bil, 18%)
The Commons Budget(1.8bil, 36%).

Boscoin aim to issue a total of 5.0 billion coins over the next 100 years. These values are subject to change.

Each year freezing rewards will decrease by 5%, confirmation rewards will decreased by 6.1% and a transaction fee of 0.01 BOScoin will be charged per transaction, 70% of the transaction fee will be rewarded to node operators and 30% will be used to fund the Commons budget.

Congress members vote on proposals that are put forward by anyone holding a wallet that seeks funding from the Commons budget that want to build something on BOScoin's platform or promote BOScoin in any kind of way, there are two types of proposals:

Systems proposals.
Funding proposals.
Systems proposals are proposals that automatically change the code of the BOScoin platform and funding proposals are proposals that seek funding from the Commons budget, proposals need to pass by more than 10% to automatically get the funds requested. The main role of the Commons budget is to expedite growth of the coin in the early stages of its life.

BOScoin aims to launch with 2 ready-made apps:

Stardaq (and international celebrity popularity prediction market)
Delicracy (a collective decision-making tool that can be used by any organisation).
These applications serve as outlets to spend BOScoins and serve as channels for air dropping free coins.

Trust Contracts

Trust Contracts are securely executable contracts based on a decidable programming framework called owlchain, which consists of the Web Ontology Language(OWL) and the Timed Automata Language(TAL). Trust Contracts aim to overcome the issues regarding non-decidable smart contracts by using a more contained and comprehensible programming framework which provides secure and decidable transactions of contracts.

The owlchain’s hierarchy was designed as a general blockchain model to accommodate multiple ontology models. The owlchain combines the feature of the reasoner and consensus protocol to handle the Trust Contract.

The Congress Network interacts with non-congress users in three ways; transactions, proposals and coin freezing

1. Transactions
   When a transaction of digital assets is requested by a user, the request is sent to the Congress Network. For a simple transfer of BOScoin, when a node confirms the block –roughly every 5 seconds– the user’s transactions will be confirmed, and the BOScoin will be transferred to another wallet

2. Proposals
   Proposals are Commons Budget spending plans that are submitted to the Congress Network. When a proposal is made, the ‘net percentage point difference’ between the positive and negative votes must exceed 10% for the proposal to be passed. When the proposal is passed, the requested coins will be sent to the proposer

3. Coin Freezing
   Coin Freezing is a Proof of Stake concept where if a user locks-in their coins and in return they will receive interest based on the number of coins frozen and the length of time the coins are stored. Frozen coins are used as collateral in case of attempted forgery of the blockchain

Where is BOS Platform Foundation headquartered?

The BOS Platform Foundation is headquartered in Switzerland. More information is available via the link: BOS Platform Foundation is Officially Registered in Switzerland

How many BOScoin tokens will be in circulation at the Genesis Block?

There will be 500,000,000 BOScoin tokens in circulation on the BOS Platform at achievement of the Genesis Block. The token profile will be:

Fundraising events:

Preliminary Fundraiser: 133,906,311
Fundraiser Event: 276,093,688
Distributed (Stake):

Foundation:40,000,000
Members:40,000,000
Bounty:10,000,000
Additional information regarding the distributed stake:

Foundation:The Foundation will use the set number of tokens to sustain a stake in the ecosystem and carry out the purpose of the foundation.
Members:Members who participated in the development of the BOS Platform receive a share of BOScoin tokens.
Bounty:Users who participated in the bounty program are are rewarded BOScoin tokens.
KEY MILESTONES

M0 Demo [2017 May 2nd] : Trust Contract Concept
Fundraiser [2017 May 10th]
M1 Alpha [2017 July] : Testnet (FBA, Trust Contract(remittances), Inference Engine (No incentive system)
M2 Genesis [2017 October] : Livenet (Simple Trust Contracts with Inference Engine & Blockchain Explorer)
M3 Nebula : Proposals and Voting Ontology development and application M4 Sirius : Self-evolving chain and SPV Mobile Wallets

FOLLOW BOSCOIN

Boscoin Main Page: https://boscoin.io/en/home/
Slack: https://boscoin.slack.com/messages
Facebook: https://www.facebook.com/boscoinio
Twitter: BOScoin (@boscoinio) | https://twitter.com/boscoinio
Bitcointalk: https://bitcointalk.org/index.php?topic=1759662.0
Medium: https://medium.com/@boscoin
GitHub: https://github.com/owlchain
YouTube: https://www.youtube.com/channel/UCRjoA41Ukj_Vnt9Ec6oi7Qw
Reddit: https://www.reddit.com/r/boscoin/

Special Thanks to @chef_bedo (David Bedford) for his input and help.