BORA establishes Blockchain Technological R&D Institute

The announcement came just a few weeks after they launched their testnet BORA Lagoon

The island of BORA BORA by https://pixabay.com/en/bora-bora-mountain-ocean-pacific-680115/

Corporate-controlled centralized platforms dominate in the content creation and entertainment industry. As a result artists and creators are giving away control over their work. Decentralized applications and ecosystems fundamentally change that by giving back the power to the artists and creators. Using a decentralized system to publish content allows its creators to keep control of their creations. BORA is one of those blockchain based projects that offer a decentralized platform for the content and entertainment industry. Their platform is called BORA Island. They recently launched their testnet, BORA Lagoon.

BORA aims to solve the pain points the industry is currently facing. The content creation and entertainment industry faces:

1. Reliability, authenticity, transparency, and security of information;

2. Inability to guarantee the value of user data assets;

3. Fraud and excessive costs of intermediary transaction processes.

With the help of blockchain technology the majority of these pain points can be solved. Blockchains are large data structures that are trustless, transparent, secure, cost-efficient and fraud-resistant.

As a proven blockchain solution, BORA used the Ethereum blockchain and network as their main chain. By implementing the Proof-of-Authority consensus algorithm, BORA offers side chains that run in parallel with the main Ethereum chain. This solution allows the BORA chain to scale and be suitable for commercial size decentralized applications. Their module structure enables decentralized applications to be added to the BORA ecosystem.

The Institute’s Director Cheon Kyoungwook

Blockchain technological R&D institute

This week, BORA announced it has set up a blockchain research and development institute. The team appointed Cheon Kyoungwook as the institute's director. Mr. Kyoungwook who is an expert in the field of network security will lead the R&D team where they will do extensive in-depth research into Ethereum, EOS-based network uploading on a large scale, real-time conversions between digital assets and so on.

BORA Lagoon

BORA Island will launch in Q1 2019 according to the team’s roadmap. Their testnet was launched on schedule in Q4 2018. BORA Lagoon is available for testing. Testnet tokens can be requested which enables testing of deposit, withdrawal and transfer of BORA. BORA Token Manager is available to transfer Ethereum based ERC20 BORA tokens to BORA Swell, the internal platform token that can be obtained by performing tasks on the network or by playing platform-based games.

The BORA test-ground consists of the wallet to deposit, withdraw or transfer ERC20 BORA tokens. It already has 1 test-game called Tower Blocks, which you can play to receive internal BORA Swell tokens. BORA Token Manager can be instructed for converting BORA and BORA Swell tokens. The test-ground also informs users on the history of BORA platform transactions.

BORA invites everyone to test the platform. Decentralized projects thrive on community engagement and BORA is currently building and expanding their project. Check out the test-ground, request some test tokens to interact on the platform and play the first test-game.

I’m looking forward to seeing more additions to their test-ground, for now I will just keep playing Tower Blocks and try to approve on my high-score.

Official channels

For more information about BORA:

Website: https://www.boraecosystem.com/

Telegram: https://t.me/boraofficial

Twitter: https://twitter.com/bora_ecosystem

Medium: https://medium.com/@BORA_Ecosystem

Facebook: https://www.facebook.com/BoraEcosystem/

Disclaimer: This article is not intended as investment advice. You should always do your own research. All the information provided in this article is based on my own personal opinion. The team at BORA Ecosystem incentivize me for writing this article but supports me in ventilating my personal opinion.

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LindaCrypto

Blockchain and cryptocurrency content creator. Writing for | Hacker Noon | The Startup | Good Audience | Blockdelta 📧: lindacrypto@ziggo.nl