About BORA (BORA)
BORA is positioned as a decentralized platform built for commercial content applications. The entertainment-centered blockchain network was founded in 2017 by Way2Bit, a South Korea-based group of blockchain and mobile app developers and experts. The founding team sought to remedy issues they found in Internet-based content distribution.
In May 2018, Way2Bit published the first whitepaper on BORA, which detailed its dual blockchain system consisting of an internal BORA chain running along the Ethereum public blockchain. Expandability for commercial content application was reportedly an important factor in the set-up of this dual blockchain design.
In 2018, the BORA network launched testnet versions of its own application, after which it soft-launched the BORA Island digital content blockchain platform in 2019. That same year, the BORA team also made the decision to move from Ethereum to Klaytn for greater efficiency. The migration was completed in 2021 and in 2022, BORA launched a new website and released a new whitepaper.
The BORA network has since converted from a proof-of-authority (PoA) consensus algorithm to a Practical Byzantine Fault Tolerance (PBFT) model and reports that it provides greater throughput, speed, fault tolerance, and finality.
Its eponymous native cryptocurrency, BORA, is used in the networkâs operations. While it is not currently available for trade or purchase on Binance, the current price of BORA is updated and available in real time on our platform.