BOScoin is a Self-Evolving Cryptocurrency Platform for Trust Contracts. "Trust Contracts" will provide a decidable and approachable framework for creating and executing contracts on the blockchain. The "Congress Network" is aimed towards creating a more democratic and productive decision making process. And the incentive scheme and issuance plan is aimed towards creating value for the coin while deterring the centralization of power. The Modified Federated Byzantine Agreement algorithm will allow for low latency transactions while being more energy efficient. BOScoin aims to overcome the technical and operational issues inherent in many cryptocurrencies.
When a transaction of digital assets is requested by a user, the request is sent to the Congress Network. For a simple transfer of BOScoin, when a node confirms the block –roughly every 5 seconds – the user’s transactions will be confirmed, and the BOScoin will be transferred to another wallet. Proposals are Commons Budget spending plans that are submitted to the Congress Network. When a proposal is made, the ‘net percentage point difference’ between the positive and negative votes must exceed 10% for the proposal to be passed. When the proposal is passed, the requested coins will be sent to the proposer. Coin Freezing is a Proof of Stake concept where if a user locks-in their coins and in return they will receive interest based on the number of coins frozen and the length of time the coins are stored. Frozen coins are used as collateral in case of attempted forgery of the blockchain.