Boss Agora In-Hwan Kim, Chairman, Announces DAO Roadmap for Decentralization
Bos Agora, a public blockchain platform, announced on the 12th the DAO roadmap for true platform decentralization.
Bos Agora, famous for its No. 1 ICO project in Korea, conceived a congress network to decentralize not only technology but also the organization that operates it from the initial stage of project construction. The parliamentary network consists of node operators who freeze at least 40,000 boas without delegating voting rights or electing delegates. Each node operator can participate directly in the entire decision-making process, which determines the direction and major issues of the project by exercising one vote per node.
The council network is expected to play an important role in the growth of Bos Agora as a true Dao platform by helping members to enable active communication and promoting participation in decision-making for the development of the Bos Agora ecosystem.
VOTERA, which was unveiled in the second half of last year, is the first Dao service built on the Agora blockchain. Botera is a tool that enables democratic decision-making and solves the problem of collective decision-making as a truly decentralized autonomous organization.
Members of the Congress Network will be able to democratically make decisions on key issues such as system upgrades and decisions on where to use public budgets, which are key functions for ecosystem development. Botera plans to run the test within the third quarter of this year along with the launch of the coinnet and recruitment to participate in the congress network test.
In particular, the core of the Boss Agora Dao blockchain is based on Trust Contract. Trust Contract is a self-contract solution developed in accordance with the Agora blockchain network protocol of the industry standard Smart Contract and is aiming to launch in the first quarter of next year. When the trust contract development is completed, anyone can freely participate in the Boss Agora Dao Blockchain and contribute to the expansion of the ecosystem.
With the completion of the trust contract development, Bos Agora plans to complete in the first quarter of next year the foundation stone to become a true Dao project, such as launching the mainnet, officially operating the congress network, proposing and deciding on public budget No.
Boss Agora Chairman Kim In-hwan said, “Even if the system is decentralized, it is difficult to say that it is a true blockchain project if the subject that operates it is centralized.” We plan to disclose the organizational operation plan in stages in the future.”
Author/ Translator: Jamie Kim
Bio: Jamie Kim is a technology journalist. Raised in Hong Kong and always vocal at heart. She aims to share her expertise with the readers at blockreview.net. Kim is a Bitcoin maximalist who believes with unwavering conviction that Bitcoin is the only cryptocurrency – in fact, currency – worth caring about.