BOSAGORA LAUNCHES BIZNET TO BUILD BUSINESS NETWORK

KUALA LUMPUR, June 30 (Bernama) -- BOSAGORA Foundation announced on June 29 that it has launched its unique BizNet for building and expanding the business ecosystem.

The BizNet launch announcement was streamed live on YouTube to ensure free communication with its users.

“With the launch of the BizNet, the value of BOA coins is expected to rise as it will create more efficient and richer network ecosystem. Through the BizNet, we will strive to move closer to BOSAGORA’s vision of ‘Making a Better World’,” said Kim In-hwan, President of BOSAGORA Foundation in a statement.

The blockchain network of BOSAGORA, the first initial coin offering (ICO) project in South Korea, aims to realise decentralised autonomous organisation by executing commons budget accumulated through active participation in the project by node operators via parliamentary activities and generation of blocks.

The Foundation developed the BizNet to provide a blockchain network that supports developers to easily learn and adapt to smart contracts, which are essential for delivering non-fungible tokens (NFTs) and DeFi.

The consensus engine of the BizNet is designed to provide a variety of conveniences, including compatibility with the Ethereum network, reduced latency time needed for finalising blocks, block generation cycle identical with the Ethereum network, and avoidance of inflation.

Moreover, its compatibility with the Ethereum network, which has the largest business ecosystem, is expected to contribute to the expansion of the business ecosystem of BOSAGORA as it allows for collaborations and combinations with various Ethereum-based global services.

The BizNet publishes Biz-BOA, its proprietary native token. Users can convert points or tokens accumulated by using services offered in the BizNet into Biz-BOA through the swap function of the BizNet. 

Based on the BizNet, the Foundation plans to sequentially launch S2E (Service-to-Earn) services including DeFi, P2E (Play-to-Earn), and M2E (Move-to-Earn), as well as NFT.

-- BERNAMA