Please go to homepage or send email to contact@boscoin.io

November 10th, not July 10th...

Hi all, we are about to launch tokenNet(October 31st, 2017), meanwhile please take a look at new renewed homepage of BOS!
https://medium.com/boscoin/boscoin-homepage-renewed-398343a4c4be

BOS TokenNet is set to launch at Oct 31st, 2017.
And you may withdraw once BOS is listed on exchanges after the launch of TokenNet.

TokenNet to launch on 31st of October

Over Chuseok, many tests have been conducted and although efforts to improve performance of the network has been satisfactory, our devs are insisting that we need a little more time. The plan was to launch at the end of September and we apologize for the delay, but now we have a new launch date — 31st of October. The delay is caused mainly by two things — redistribution of transaction fees and security. Below is a more detailed explanation as to why more time is needed and some of our concerns and progresses.

Redistribution of Transaction Fees

Our distributed network depends on nodes to validate transactions and each transaction requires a transaction fee. The fee is collected to a fee pool which is redistributed every week. As described in our white paper, validating nodes will receive 70% of the collected transaction fees and 30% will be sent to the Commons Budget, but since there is no Commons Budget at this stage, and since validation will be done by the development team, all of the transaction fees will be distributed to the holders of BOScoin according to their stake above the minimum balance. The reason why we need some more time is because we want to make certain that such redistribution is done without any glitches. Tests confirm that the redistribution logic is sound but there was an opinion within the team that it would be prudent to run one final additional test in real life conditions except for it being on a closed network now that everything is in place. Fees will be redistributed on a weekly basis, so running a test means observing the network for a week and see if BOScoins are finding their respective destinations properly. Such tests have already been commenced and we are planning more than a single test so it will take some time.

Security

As posted in our previous newsletters, we have asked a couple of security firms to look into our network and Web-wallet for any holes and gaps that need to be filled. Unfortunately we have not received the final report from any firm as of today. Security is the one area where no compromise can be made and we would like to be absolutely certain our network is impregnable. Should any security concern arise, we will need some time to fix it, hence the delay.
A group of white hackers within one of the security firms tried to hack our Web-wallet and they have submitted a preliminary report but no issue regarding both the Web-wallet and the network was raised so far. We are still waiting for the final report.

We believe there won’t be any problems but thought it would be best that we go ahead with this final process just to be sure. We have three weeks until the 31st and that should be enough time to handle any issues if something goes as unexpected (God forbid!). Development aside, we are also drafting and preparing a contingency plan for the worst case scenario in case the network misbehaves, or even fails. The stability of the network is our main priority and we are doing everything within our capabilities to improve it. Once again, we apologize for the delay but we have concluded this is in the best interest for everyone so please do bear with us until the end of this month.

No, not 100% sure yet.. we will announce for any changes.. thanks

Please read part 2., Smart Contracts & Trust Contracts

https://medium.com/@boscoin/smart-contracts-trust-contracts-part-2-6b9dbadfdf98

Please read below article;

https://medium.com/@boscoin/smart-contracts-trust-contracts-part-1-83f12dec7641

please send to contact@boscoin.io for queries. Thanks

Can you send us your email address? We will send out the invite, thanks..

Please click on the link below, FAQ for BOScoin TokenNet:

https://medium.com/@boscoin/boscoin-tokennet-faq-b05a84ce0f57

Announcement for public TestNet!

Thank you everyone for your continued interest in the BOS Platform and desire to participate in the Public TestNet.

As previously mentioned in the Revised Milestones article, Public TestNet was to commence at the end of August, opening testing elements (of the TokenNet, which will eventually roll into Genesis) to the public. As our Private TestNet commenced on July 25th, we have conducted a variety of tests of the Federated Byzantine Agreement consensus algorithm from the Stellar Consensus Protocol.

We believe the fundamental aspects of the BOS Platform are stability and liveliness of the network. During Private TestNet, we have identified possible risks that can undermine network stability and liveliness if certain modifications are made to node configurations. This could potentially expose the network to various risks we wish not to have. We originally would have liked the community to participate in testing as nodes but due to such test results, we have concluded that since BOScoin TokenNet will run basically on a very similar protocol as SCP, testing stability and security of the network to be more of a priority than node and quorum configurations for TestNet because in the end, MainNet will run on a different consensus protocol, mFBA. As such we have decided to release TokenNet with a static quorum structure, where the optimum configuration will be determined from automated testing during Public TestNet. We apologize for the last minute announcement as we were trying to figure out a way around it. Nonetheless, public testing based on transactions only will commence as soon as web test-wallets are ready which will be at around the 18th next month. Once preparations are finalized, we will publish information on how to participate. Please stay tuned.

Meanwhile, a large amount of work has also currently been to automate testing in relation to both quorum/node configurations and transactions and we would like to share the progress so far:

[COMPLETE] Initial quorum configuration and testing (4 Quorums)
[COMPLETE] Account (node & user) generation testing
[COMPLETE] Remittance testing
[COMPLETE] Code optimization - removal of redundant codes in SCP and adding functions to operate BOScoin TokenNet
[COMPLETE] Development and testing of automated distribution tool based on docker source
[COMPLETE] Development of automated algorithm for optimal quorum composition based on Private TestNet results
[IN PROGRESS] Development of an automated log reporting and network monitoring tool
[IN PROGRESS] Automated test environment - this will be a tool allowing tests to run automatically on the network, and also enable the network configuration to automatically optimization based on ongoing results.
Once again, much appreciated for your continued interest in the BOS Platform and apologies for the last minute delay. We will be in contact soon.

Copyright © 2017 BOS Platform Foundation, All rights reserved.
BOScoin: Self-Evolving Cryptocurrency Platform

You may buy when launch in October

No,  Main net is at the end of the year!!

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Please write exact circumstances to contact@boscoin.io, and we will investigate  the problems.
Thank you.

Thanks for the article

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