Home / Crypto Currency / WAY2BIT Launches Transparent Platform for Blockchain Users

WAY2BIT Launches Transparent Platform for Blockchain Users

This is a paid-for submitted press release. CCN does not endorse, nor is responsible for any material included below and isn’t responsible for any damages or losses connected with any products or services mentioned in the press release. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the press release.

In recent years, Internet-based content services such as game, entertainment, social network, and communities have experienced large-scale growth. However, with the opaque disclosure of information, the questionable safety of user data assets, and the high cost of transactions, user motivation and participation is decreasing. As a result, content providers have to bear the pressure of rising costs to ensure user loyalty.

Industry pain points:

  1. Reliability, authenticity, transparency, and security of information;
  2. Inability to guarantee the value of user data assets;
  3. Fraud and excessive costs of intermediary transaction processes.

BORA uses blockchain technology to open up new possibilities by reorganizing existing centralized systems into a distributed structure of computer networks. With this new infrastructure and appropriate business mechanisms, data storage between end users and service providers can be delivered transparently, allowing providers to archive distributed ledgers without having to store data directly. This circumvents risks of data tampering present in modern-day enterprises and can help solve the above industry pain points. Moreover, BORA reduces costs by eliminating high gas fees while using the Ethereum network, encouraging the use of the platform.

The BORA platform is incentivized using the BORA Point (known as BORA Shell) Incentive Program, which provides benefits to all participants in the ecosystem by providing campaign rewards. This will lead to increased user retention and brand value, creating sustainability. The system is robust, and the inclusion of such a reward process will instill a sense of community among participants, driven by a token economy.

The current methods of content distribution are flawed, and it is difficult for users to verify that the data issued by providers is authentic. Transparency is lacking as content providers can control which information is recorded, stored, and shared as they control the servers and database. The accessibility of data by the providers can lead to falsification and modification of information without user consent.

The BORA team tends to mitigate the above issues and build a formidable brand by working to build a platform which solves transparency issues among content providers, especially those in the gaming industry. BORA will provide development toolkits to support and encourage developers in the ecosystem, and unlike traditional platforms, there will not be any entry fees.

The team believes that there is much room for growth in the industry, and with the BORA platform, they will build an ecosystem that promotes content circulation within a decentralized network that grows with the advancement of the blockchain technology.

For more information about BORA:

Website: https://www.boraecosystem.com/

Testnet Lagoon: https://developer.bora-lagoon.com/en

Telegram: https://t.me/boraofficial

Twitter: https://twitter.com/bora_ecosystem

Medium: https://medium.com/@BORA_Ecosystem

Reddit: https://new.reddit.com/r/Bora_Ecosystem/

Email: [email protected]

Read more

Check Also

Bitcoin Cash Price Gets Skewed due to Exchange Trickery

A lot of confusing action is taking place where the Bitcoin Cash price is concerned. Although its actual decline in value is quite obvious for everyone to see, the real price of BCH is not necessarily what people can see on Coinmarketcap. This is primarily because numerous exchanges treat BCHABC as Bitcoin Cash already despite nothing being decided in terms of which chain will be the longest. Bitcoin Cash Value Fluctuates Heavily Depending on where traders look at, the price of Bitcoin Cash will be either close to the $400 level or down to $250-ish. That is quite a large gap between prices, yet one that is also very easy to explain. Bitcoin Cash, as people knew it before the fork, no longer exists. Most professional exchanges have also retired this price ticker, for the time being. As the hash war rages on, there are still a lot of unknown factors waiting to be addressed. Despite this ongoing kerfuffle, there is a net 5.76% decrease in the Bitcoin Cash price, and a 5.4% decline over Bitcoin. More specifically, that is what CoinMarketCap reports at this time, although this is not necessarily the case whatsoever. In fact, some exchanges are clearly jumping the gun by labeling BCHABC as BCH and thus dragging the Bitcoin Cash price down a bit more. Exchanges currently engaging in this activity include Bittrex and Coinex, neither of which plays a big role of importance when it comes to trading. However, based on the current value of BCH on Bitfinex and Gate.io, it seems a similar incident is taking place. One also has to keep in mind Bitcoin Cash was getting battered ahead of the network split as well. Most exchanges have halted trading of BCH indefinitely, primarily because the currency no longer exists. It is evident either BCHABC or BCHSV will take over that name in the future, but nothing has been decided at this point. As such, any trading referring to just “Bitcoin Cash” or “BCH” should be avoided, as most users can never be sure which currency is effectively being traded under this name. All of this skews the picture pertaining to Bitcoin Cash altogether. Coinmarketcap reports there is still $392m in trading volume for BCH, even though that is virtually impossible right now. With so many exchanges freezing deposits and withdrawals, it is evident actual BCH trading is no longer possible whatsoever. Virtually all platforms have deposits of BCHSV and BCHABC frozen as well, which only makes this market trend more confusing. It is safe to say the entire network split has been a bit of a mess first and foremost. In the case of Bitcoin Cash itself, that name will – under the current circumstances- not be used across exchanges for much longer. Instead, the two separate camps need to be treated as such first and foremost. Until things settle down – with might not necessarily happen anytime soon – the Bitcoin Cash price itself is pretty much irrelevant for most traders and speculators. Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency. The post Bitcoin Cash Price Gets Skewed due to Exchange Trickery appeared first on NullTX.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Disclaimer: Trading in bitcoins or other digital currencies carries a high level of risk and can result in the total loss of the invested capital. theonlinetech.org does not provide investment advice, but only reflects its own opinion. Please ensure that if you trade or invest in bitcoins or other digital currencies (for example, investing in cloud mining services) you fully understand the risks involved! Please also note that some external links are affiliate links.