Bora is a decentralized platform designed for gaming and entertainment. It seeks to bring in games and applications from the GameFi sector to its Bora Chain, offering an alternative to blockchains like Ethereum, which are known for their high gas costs. To achieve this, Bora employs a two-layer blockchain system: the BORA token is traded on the Klaytn blockchain, which is a public ledger focused on metaverse and gaming applications. The Bora chain itself is modular, enabling it to serve as an execution layer for decentralized apps.
Developers benefit from Bora's comprehensive toolkits, which assist in building decentralized applications within the ecosystem. The Bora platform also features Bora Points, an in-system currency used to support development efforts and motivate contributions. These points can be converted into BORA tokens.
Who Are the Founders of Bora?
Bora was established by a team of experts in blockchain and mobile development from Korea. At the helm is CEO Gyehan Song, a veteran game developer with more than two decades of experience, including a stint at Samsung Electronics. The company’s CSO, Key Yune, also boasts 20 years in the field, having developed several popular online desktop and mobile games in Korea.
CTO Igoo Lee has a background in managing game infrastructure, having worked on titles like Crossfire and FIFA Online. Kyoungwook Cheon, the project's VP of Engineering, is a former computer engineer who founded the Free Chal game portal back in 2000.
The Bora team has formed alliances with over 30 companies across the blockchain and gaming sectors, including ENP Games, UNIT5, Supertree, Neon Games, and Emong, as well as educational consultant RS Edu, digital healthcare provider Hurray Positive, and grid address platform Infoseed.
What Makes Bora Unique?
Bora distinguishes itself with its strong cross-chain interoperability, employing various layers to enhance security, scalability, and dependability.
Game developers find Bora appealing due to its user-friendly API, web interface, and seamless interoperability within its ecosystem. Bora also offers creators infrastructure to manage and engage users, utilizing a point system linked with the BORA token.
The Bora blockchain is structured into three layers: the application layer, the service layer, and the core layer.
The core layer forms the foundational level of the blockchain, supporting the overall infrastructure and data network within the ecosystem. It also handles the settlement of Bora points. Modeled after Ethereum, it uses a proof-of-stake consensus mechanism.
The service layer contains APIs and software development kits that integrate with content and apps for Bora. It hosts the Bora chain explorer, which tracks all BORA token activity. Bora’s BORA ATOLL SDK offers developers a toolkit for app creation on the platform.
On the application layer, end users interact with content and access the Bora app, which serves as the asset management platform, facilitating token exchanges and providing access to free content applications.
This dual-layer blockchain setup presents an appealing option for game developers reluctant to use other blockchains. Bora's modular design allows developers to trial and expand projects on its chain before potentially moving them elsewhere. With a transaction speed of 2,200 TPS, Bora surpasses even lower-fee blockchains like BNB Chain.
How Many Bora (BORA) Coins Are There in Circulation?
The BORA token serves as the native currency of the blockchain, with a total supply of 1.325 billion. The allocation of BORA is structured as follows:
Within its ecosystem, BORA can be exchanged for Bora points, which reward content creators, manage events, and incentivize games. These points can seamlessly convert back to the BORA token, which is tradable on various exchanges.
Initially an ERC-20 token, BORA transitioned to the Klaytn blockchain, aligning with Klaytn's focus on gaming and metaverse applications.
How Is the Bora Network Secured?
Following its upgrade to Bora 2.0, the network shifted from a proof-of-authority to a PBFT consensus mechanism, addressing several challenges encountered by systems like proof-of-stake or proof-of-work. Theoretically, Bora offers limitless expansion potential, as additional blockchains can be layered onto the existing core layer that handles transaction settlements. Each independent side chain on Bora has the capacity for about 2,200 transactions per second, paving the way for applications beyond gaming.
Where Can You Buy Bora (BORA)?
You can purchase BORA on platforms such as Upbit, Bithumb, and Coinone.
