Topic: [ANN] BGX | THE DIGITAL BUSINESS ECOSYSTEM OF TOMORROW - page 17. (Read 36413 times)

Surely the BGX community will be more eager to monitor and contribute to further development.
The team's breakthrough will be on the agenda and certainly has more useful value.

This is good news. For me it is important that the token will soon be traded on the exchange.

In the upcoming months, we will be working heavily on growing our partnership list and introducing some larger companies as partners.

We are primarily talking with potential node holders — a company with a large user base that can use BGX to extract more revenue from this valuable asset. We are cross-industry, or rather industry-agnostic and you can expect to hear news about our new market directions very soon (all within digital goods).

In the middle of autumn, the token will be added to the list of exchanges. This is proven information. On the rest, we are waiting for the announcement of the developers.

They write that they collected enough on the pre-sale. And they really raised a lot then, as I recall.

This seems to be an interesting thing from other projects. Does this project not need funds from investors to develop this project?

How and when will BGX be started? How much token that BGX have?

OUR FUNDRAISING IS TRADITIONAL

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We are a blockchain project; a project using decentralized technologies — but not a project dabbling in ICOs.

We will not be conducting an ICO. We are self-financed for our next stages of development and will seek further institutional funding once it becomes appropriate.

BGX is using a double-token-coin system.

The DEC is the ERC-20 token. It will be traded on exchanges and available for investors. It will be required for node operators to open a node and every DEC token held by a node will have the right to emit and process a certain number of BGT coins.

The BGT coins are the ones actually used for the platform transactions. While DEC is volatile (being traded on an open exchange market), the BGT coins will always be worth $0.10 USD each, minimizing the effect of inflation.

This way, investors get a high-growth token with limited supply, demand pressure from nodes, and tradeability on exchanges. Consumers are protected from crypto-volatility by using the BGT coin. And since nodes possess DEC, each dubious transaction gets dropped down to Ethereum miners to verify, thus adding an extra layer of security.

We could fake humbleness… but we are building something truly game-changing.

The decentralized industry is facing what is commonly described as the DSC problem — where decentralization, scalability (high network speed) and cost (low cost for the network) cannot be attained all at once.

Bitcoin and Ethereum are highly decentralized, but transactions are costly and take long to process.

Ripple is much faster, less expensive, but less decentralized.

Meanwhile, BGX has developed a whole new consensus model on the basis of the Federative Byzantine Agreement. We call if proof-of-loyalty. No blocks. Only nodes each owned by businesses earning a small fee from each transaction processes.

A limited number of nodes allows each one to handle enough transactions to remain profitable at low fees. The “cluster” model of the nodes means that a transaction has to be verified by a certain quorum, but not all nodes synchronise all transactions all at once (much faster speeds).

Moreover, there is a planned integration of the top-tier AI system designed to further strengthen security of the network.

The consensus algorithm is fully developed and the alpha version of the network is expected to be live by the end of 2018.

OUR IDEOLOGY IS EFFECTIVE BBC COOPERATION

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BGX has always aimed at developing the best processing platform there is. That means overcoming the common problems plaguing the blockchains: low scalability, high transaction costs, hidden centralization. Moreover, it means that we have to be integrative, allowing easy access to our system for businesses and consumers alike.

That hasn’t changed. We are building an innovative decentralized platform consisting of 9000+ independently held nodes that conduct processing in clusters, through the Federative Byzantine Agreement based consensus (that we’ll call proof-of-loyalty). Without getting too technical, we are abandoning the useless work in forming blocks and directing the economic incentive towards the competition between businesses holding the nodes.

What has changed is our model.

The model we are building is what we’re calling BBC: Business — Business — Consumer (as opposed to B2B or B2C or P2P). We know it could be confused with a certain famous broadcasting network, but hear us out… BBC means that while keeping the end consumer in mind, the core of our benefit is from business — business synergy.

One business processes the transactions — these are large corporations with a user base that they can earn from, if they would only have some additional value added services to sell.

The second business is the provider of the content that is being sold — seeking access to users and a payment infrastructure.

BGX is the one developing an infrastructure where each business can plug in within less than a week and start earning in a cost-effective decentralized way.

This synergy is greater when the businesses are in unrelated industries — and that’s where we can bring the most value. See our Cases.

And oh. Yeah. Our market got much, MUCH bigger.

For me, it's also important that the developers diversify the risks. Maybe it's too loud, but I appreciate the introduction to the project of the opportunity to use a platform for the trade in digital goods. Gaming applications + trade.

For me, this is good news. I'll explain why.
The less tokens are released, the more expensive they will be!

In the bounty thread, the manager said 2% of all sold BGX token. The campaign hasn't ended yet. Number of tokens for the bounty will be very low if their ICO isn't as expected.

Patiently wait and do not doubt. I am sure that soon we will receive exhaustive answers to all our questions!

There are many questions. For example:
1. How many tokens will be distributed through the bounty?
Surely the amount will decrease.
2. When will we receive tokens?

Does not the article outline ways for further development? What questions do you have no answer? I applaud the rejection of the Sale at such a difficult time, and very much pleased the soon appearance of the token on the exchange.

This news means that the developers have enough money to move forward. It's a good news. I'll wait for an official statement from the founders.

There are no reports of the end of the bounty. The project did not close, but simply refused to attract investments through the ICO.
For me, it's important that the tokens will be on the stock exchange soon.