SEOUL, South Korea, Nov. 2, 2018 /CNW/ -- Korea's first blockchain project BOScoin (www.boscoin.io, CEO Yezune Choi, Corporate Name: BlockchainOS) announced that the development of its Mainnet – BOSnet is now complete and is undergoing the last safety and security testing prior to its official release on November 15. The full text of the white paper 2.0, which contains updates on the principles and methodology of operating the new Mainnet was released today through the BOScoin website and is available for download at https://boscoin.io/about/.
The main update of the White Paper 2.0 is about changing the voting method to one vote per person, initially written as one vote per stake, allowing decisions to be made by the power of participation, not by the power of capital.
BOScoin CEO Yezune Choi said, "Recently stake-oriented governance systems have met with many problems arising from monopoly by minorities. As a result, BOScoin chose to move to a one vote per person system to implement a true participation-based democracy." He also mentioned, "In order to prove one vote per person, we have adopted and secured anonymity by using homomorphic encryption technology to ensure one vote is exercised by one person making a BOSNet a truely decentralized democratic platform."
Minhyo Bae, CTO of BOScoin said, "The BOScoin Mainnet was developed based on the experience of running the TokenNet and focused on enabling a timely consensus process and openness. Based on the ISAAC consensus protocol developed by BOScoin, BOScoin Mainnet is a blockchain network which speed is aimed at 5,000 TPS."
Meanwhile, before the launch of the Mainnet, Yezune Choi, CEO of BOScoin is actively promoting the BOScoin Mainnet and its core business, "Public Financing". He has been publically speaking at Blockchain Seoul 2018 Conference in September, he also has spoken at the Superpower of Blockchain Conference hosted by Korea Fintech Association in October and most recently in the past week he has a done a keynote speech "Play for Jobs Generated by Blockchain" at ABF in Seoul – Fuze 2018.
Korea's first blockchain project BOScoin was launched by BlockchainOS in May 2017 through an ICO. Five hundred million BOScoins were first released, and the ICO of BOScoin reached 15.7 billion won hardcap within 9 minutes from the start. Approximately 60 billion won worth fundraising was completed within 17 hours.