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BOSAGORA: Understanding the Decentralized Digital Currency

BOSAGORA is a unique and innovative decentralized digital currency that operates on Trust Contracts and utilizes the Congress Network as its embedded selective output system.

The primary objective of BOSAGORA is to establish a censorship-resistant blockchain platform where a select group of individuals, known as the congress, can determine which projects receive support through a comprehensive selection process. The fundamental values driving this platform are democracy, rule of law, fairness, transparency, and efficiency.

Key Features of BOSAGORA

Trust Contract: Ensuring Performance and Reliability

BOSAGORA guarantees the execution of contracts by implementing a protocol layer. The platform envisions providing an advanced smart contract engine that offers a flexible programming language, enabling progressive individuals to work comfortably and effectively.

Congress Network: Empowering Governance and Decision-Making

Within the BOSAGORA platform, the Congress Network plays a vital role as the governing body responsible for addressing governance-related matters within unresponsive organizations. By utilizing an automated and well-defined governance system, BOSAGORA continuously expands its community and software, fostering a more robust anti-ecosystem.

BOSAGORA distinguishes itself as a decentralized blockchain platform that prioritizes fairness, transparency, and community involvement.

Understanding Blockchain and Its Role in Bitcoin

The concept of blockchain was initially introduced in Satoshi Nakamoto's seminal white paper titled "Bitcoin: A Peer-to-Peer Electronic Cash System" in 2008. The following year, blockchain technology was implemented as the foundational technology supporting Bitcoin (BTC).

Bitcoin utilizes blockchain as a transparent and publicly accessible ledger for financial transactions. It was the pioneering cryptocurrency to address the double-spending issue through the adoption of blockchain technology. Despite its decentralized nature without a central authority figure overseeing transactions, Bitcoin has facilitated over 180 million peer-to-peer transactions and currently boasts a market capitalization exceeding $100 billion.

The Unique Control Principle of BOSAGORA

One remarkable aspect of BOSAGORA's control principle is its ability to unleash collective knowledge. Every node within the network has access to the selection process, facilitating the synthesis of diverse opinions into harmonious decision-making. Through this collective intelligence mechanism, BOSAGORA aims to continuously improve its ecosystem and foster collaboration.

BOSAGORA's Reward System: Incentivizing Participation

BOSAGORA addresses the issue of hash power dominance prevalent in Bitcoin, which results from its reliance on the Proof of Work consensus protocol. By separating financial incentives from the optimization of hash power, BOSAGORA opens up the governance process to a broader range of participants. Members of the Congress can earn BOA rewards through confirmation rewards and transaction fees.

Designated Reward: Recognizing Node Contributions

Confirmation rewards are awarded to nodes upon block confirmation. These rewards play a crucial role in distributing the financial resources required to operate a node and are directly proportional to the amount of frozen funds within a node. Initially set at 27 BOSAGORA every 5 seconds, the block definition reward gradually decreases by 6.31% annually over a period of approximately 128 years. The rewards are distributed to the designated node when a new block is created.

Transaction Fee: Supporting the Commons Budget

The transaction execution fee is fixed at 0.01 BOSAGORA. Parliament Nodes receive 70% of the transaction fees collected within a block, while the remaining 30% is allocated to the Commons Budget. Congress governs the editing process for transaction fees.