BOScoin

About BOScoin

BOScoin was established in 2016 in Seoul, South Korea, with the objective of creating a "self-evolving" cryptocurrency platform. The project was initiated by CEO Changki Park, who previously founded Paxnet, a major financial information portal in Korea, and has a 14-year tenure at Samsung. The initial development was handled by BlockchainOS Inc., a South Korean for-profit entity, while the BOS Platform Foundation, a non-profit in Switzerland, was set up to manage funds from the Initial Coin Offering (ICO).

The business aimed to address persistent issues in decentralized systems through a unique architecture. At its core, BOScoin was designed as a platform for "Trust Contracts," which are securely executable contracts built on a protocol called Owlchain. This framework, comprising the Web Ontology Language and Timed Automata Language, was intended to offer a more comprehensible and decidable alternative to the non-decidable smart contracts found on other platforms. The platform's consensus mechanism, a Modified Federated Byzantine Agreement algorithm, was engineered for low-latency, energy-efficient transactions.

A key differentiator for BOScoin was its governance model, the "Congress Network." This system empowered node operators to propose and vote on initiatives, ensuring the continuous development of the platform's software and ecosystem. A portion of the currency, known as the "Commons Budget," was allocated to fund proposals approved by the Congress, fostering community-driven growth and development. To stimulate initial adoption, the team developed two applications, Stardaq and Delicracy, to run on the platform. The company conducted a pre-ICO in November 2016, raising $3 million, followed by a public ICO in May 2017 with the goal of raising over $10 million. The mainnet was officially launched in November 2018.