BORA's price today is US$0.105, with a 24-hour trading volume of $5.4 million. The token shows a stable performance in the last 24 hours. With a circulating supply of 1.1 billion BORA and a maximum supply capped at 1.21 billion, BORA positions itself as a key player in decentralized entertainment.
What Is BORA?
BORA is a decentralized entertainment platform designed to distribute digital content and incentivize participants. Launched as version 2.0, it caters to gaming, content, and entertainment demands using blockchain technology. The native token, also named BORA, facilitates transactions within this ecosystem.
History of BORA
BORA traces its roots to December 2017 with the founding of Way2Bit, a blockchain technology company based in Korea. The team, led by CEO Gyehan Song and CSO Yune Kyung Ho, published its white paper on 30 May 2018, proposing a dual-blockchain system combining the BORA Chain (internal) and Ethereum (public) for high throughput and scalability.
Key milestones include:
- November 2018: BORA Lagoon testnet launch.
- July 2019: Soft launch of BORA Island, a digital content platform.
- November 2021: Migration from Ethereum to Klaytn’s Mainnet, transitioning ERC-20 tokens to Klaytn-compatible versions.
- April 2022: Release of an updated white paper and website, detailing tokenomics adjustments.
As of May 2022, BORA’s circulating supply stood at 861.25 million tokens, with a total supply of 1.205 billion.
How BORA Works
BORA 2.0 integrates with the Klaytn blockchain, leveraging Klaytn’s Practical Byzantine Fault Tolerance (PBFT) consensus algorithm for speed and fault tolerance. This replaced Ethereum’s proof-of-authority (PoA) system. BORA’s governance involves a 19-member Governance Council (GC), including industry leaders like Sandbox and Neowiz.
Key Features:
- Dual-blockchain network: Enhances transaction efficiency.
- BApps (BORA Apps): Enables developers to create blockchain-based content.
- Token utilities: Supports NFTs, service tokens, and platform activities.
Uses of BORA Tokens
BORA tokens serve multiple purposes:
- Payment for platform activities: Including NFT issuance and service token transactions.
- Governance: Token holders participate in ecosystem decisions.
- Incentive pools: Tokens are allocated to liquidity, ecosystem growth, community rewards, GC operations, and reserves.
👉 Discover how BORA is revolutionizing digital content
FAQ Section
Q: Where can I buy BORA tokens?
A: BORA is available on major exchanges like Crypto.com, with trading pairs against USD and other cryptocurrencies.
Q: What makes BORA unique?
A: Its dual-blockchain design and focus on entertainment content distinguish it from generic blockchain platforms.
Q: How does BORA ensure scalability?
A: By migrating to Klaytn’s PBFT algorithm, BORA achieves higher transaction throughput and lower latency.
Q: Can BORA tokens be staked?
A: Yes, staking options are available through Governance Council-approved pools.
👉 Explore BORA’s latest developments
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