Project overview: BORA Ecosystem the decentralized entertainment platform

Big traditional corporations are increasing their growth rate while small companies are struggling to survive. They are either absorbed by industry giants or acquired if they see any potential in them. The recent decline that the traditional stock market has started might be the answer in the need for change. It can instigate a turn from traditional stock markets to cryptocurrency.

It is time to give the power back to the people and decentralization has the best chance of creating a future that is more equal in opportunities, chances and wealth for everyone. The internet is improving upon its previous version with Web 3.0 that aims to decentralize applications and institutions. Other industries are also being disrupted by decentralization, like the decentralized sharing economy, decentralized lending, and decentralized cloud computing.

One of the projects that aim to disrupt the content and entertainment industry by offering a decentralized content ecosystem is BORA.

Introducing BORA Ecosystem
Over the past few years, internet content companies have grown at a rapid pace. However, security breaches, hacks, and vulnerabilities in terms of privacy and safety have resulted in a decrease in user participation and dedication. One of the other issues in the content industry is the credibility of the information. This credibility is related to veracity, transparency, and security of information. The credibility issue translates to not being able to trust content information to be accurate.

BORA ecosystem proposes a solution by providing a valuable, reliable content platform for the entertainment industry.

The BORA ecosystem is comprised of 3 basic architectural layers, which are the base layer, the service layer, and the application layer.

BORA Ecosystem offers a solution that is built on the Ethereum blockchain. BORA Ecosystem proposes a dual-network design which offers service providers the functionality of their own BORA chain. Besides offering a dual-network BORA also provides a dual-token system, where BORA tokens, based on the ERC20 standard, can be used to trade with others and can be used externally, BORA Point tokens are only used internally in the ecosystem. Users that want to play games through a dApp on the platform and want to buy in-game items can convert BORA tokens internally to BORA Point tokens which enable the use in the game. BORA Token Manager, with the help of smart contracts, will make sure BORA tokens can be converted to BORA Points and vice versa.

Way2Bit
BORA is a project that is launched by its parent company Way2Bit. The company is founded in December 2017 by Gyehan Song. No information is made public on the amount of funding they raised for their initiation. What is, however, visible on their LinkedIn profile page is that Way2Bit has 18 employees. According to a recent blog post, Way2Bit expects to release BORA’s public beta later this year.

ICO
There is not much public information available about BORA’s token sales. On their website, they state that 40% of the total number of minted tokens will go towards the ICO. They confirmed in their official Telegram channel that the private sale has already concluded, but no information has been provided as the whether or not all the available crowdsale token have been sold yet.

There is not a lot of information made available on the project, but I intend to publish updates on a regular basis.

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/

Email: [email protected]

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.

Subscribe to my channels Steemit, Medium and Twitter if you like my articles and would like to be informed about Blockchain, cryptocurrency projects and news. You can also read my articles on LinkedIn.

If you have any questions about this article, please comment in the comment section below. Thank you!

LindaCrypto