Bora is a decentralized platform that aims to give users access to multiple Dapps and digital content. Learn more about the project with our “What Is Bora?” guide. Covered: What Is Bora? Features of Bora Partners & Team Tokenomics What Is Bora? New decentralized platforms are showing up worldwide, including Bora, a decentralized entertainment platform […] The post What Is Bora? appeared first on CryptosRus.

What Is Bora?

Bora is a decentralized platform that aims to give users access to multiple Dapps and digital content. Learn more about the project with our “What Is Bora?” guide.

Covered:

  • What Is Bora?
  • Features of Bora
  • Partners & Team
  • Tokenomics

What Is Bora?

New decentralized platforms are showing up worldwide, including Bora, a decentralized entertainment platform based in South Korea. It’s a layer-2 project that distributes decentralized applications (dApps) and digital content such as games on its platform while rewarding users.

The Bora platform aims to help content producers retain loyal users by providing transparency and disclosure with its dual blockchain structure. With its platform built on an internal blockchain called the Bora Chain that links to Ethereum public blockchain, Bora provides a modular architecture that supports expandability and high transaction. As a result, content producers can quickly deliver the services they wish from their dApps on the Bora platform. Meanwhile, the users get access to numerous content offerings from a unified user experience platform.

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Features of Bora

The Bora ecosystem platform is both consumer and developer-friendly. Consumers get access to multiple content on the platform. Because Bora supports blockchain-related technologies, developers can quickly create dApp to deploy onto the ecosystem. Additionally, Bora provides a blockchain toolkit called ATOLL that acts as an analysis tool for partners. 

Features of Bora:

  • High Performance – 2,200 transactions per second(TPS) per sidechain
  • Scalability & Independence – The Modular sidechains can easily be implemented into an App Modular structure.
  • Accessibility – Bora development tools and test environments are available to minimize blockchain development entry barriers.
  • Flexibility & Business-Friendly: Provides one-stop tools for business, operation, and management on a flexible platform structure.
  • Minimized Fees: Lower transaction fees than typical Ethereum services and reduced costs for users and content providers.

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Partners & Team

Bora has a partnership with Klaytn. Together, they are working on several projects such as sidechain implementation, policies, and processing extensive data. Furthermore, Bora is also going through a Mainnet migration from Ethereum to Klaytn. Additionally, Bora also has a partnership with Xangle, Metadium, DappRadar.

The team at Bora is filled with highly experienced members of their field. Geyhan Song, an experienced senior software developer, leads the Bora team as their CEO. In addition, Kei Yune, their CSO, has over 20 years of experience developing and launching games on multiple platforms. Furthermore, Cindy Lee, their CMO, has worked as a marketing team leader at five well-known companies in the gaming industry. 

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Tokenomics

The Bora Ecosystem has a dualistic structure, with BORA tokens and BORA Point tokens. The BORA token is a token that can be traded freely through exchanges with market value. The BORA Points are tokens based on the BORA Chain used for circulation within the platform ecosystem. BORA started out as an ERC-20 token, but as mentioned above, Bora is migrating their Mainnet from Ethereum to Klaytn, affecting the BORO token. 

BORA is distributed as follows:

  • 40% Sales
  • 25% Ecosystem
  • 20% Company Reserve
  • 15% Team & Advisors

Concerns:

Currently, Bora’s main focus seems to be on the Korean market and not worldwide. The BORA token is also mainly available on Korean exchanges. It is an issue since this could limit the project’s overall growth. Even though Bora claims to be working with developers from multiple fields, the current contents available on the Bora platform are simple game dApps. They are still in quite an early stage of development and adoption. This is simply another project with many potentials, and it is just too early to tell if they will live up to their promises. 

Where To Buy BORA?

You can purchase BORA through Bithumb, Upbit, and Hotbit, similar to how you would buy another cryptocurrency. You can either place a market buy or a limit buy. With a limit buy, you determine the price you are willing to pay, and your order gets filled once the token price reaches your limit price. If you want to get your hands on the token quickly, you can place a market order, where you agree to pay the current price and have your order filled almost immediately. 

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