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1. What is Boolean Network?
Bool Network is an initiative aimed at advancing the Bitcoin Verification Layer (BVL), facilitating developers in constructing Bitcoin Layer 2 frameworks while preserving security, speed, stability, and scalability.
2. Bool Network components
Bool Network operates using a layered framework consisting of various components such as the Bitcoin Layer, Payment Channels, Dynamic Hidden Committee (DHC) Layer, Verification Nodes, and an Expansion Layer. These elements work together to conduct transactions efficiently while employing a decentralized signature system that enables the transfer of messages and digital assets across different networks.
Introduction to Dynamic Hidden Committee (DHC):
A notable innovation within Bool Network is the Dynamic Hidden Committee (DHC), which is designed to offer tailored security solutions through a decentralized enforcement mechanism for handling cross-chain messages.
Unlike existing cross-chain solutions, Bool Network utilizes an external verification model to securely and decentralize the processing of cross-chain messages.
The role of the DHC is to ensure security for applications built on this platform. DHC nodes store distributed private keys of specific blockchains, including Bitcoin, to verify message security, while validators maintain transaction records and add new blocks to the Bool chain.
DHC utilizes a decentralized signature mechanism to sign cross-chain messages and generate verifiable on-chain signatures, known as "claims," to confirm the validity of cross-chain messages.
A unique feature of DHC is that every user in Bool Network can deploy DHCs tailored to their applications, serving as cross-chain bridges for their specific needs.
3. Tokenomics
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4. Team
The project was founded jointly by Ronnie. However, details regarding other team members are currently undisclosed.
5. Investors
5.1. Investors
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5.2. Partners
Bool Network has teamed up with Satoshi Protocol to integrate the SAT stablecoin, aiming to enhance interaction capabilities and broaden usage across various Layer2 solutions within the Bitcoin ecosystem.
Additionally, the project has formed partnerships with exchanges like Hashkey and derivatives platform Coral Finance, as well as other projects.
6. Roadmap
In 2024, the project has outlined several key activities:
- Launching the Mainnet.
- Initiating token deployment.
- Establishing partnerships with leading omnichain protocols.
- Offering decentralized Oracle services based on DHCs.
- Expanding Private Key management services.
In April 2024, they plan to:
- Release the Beta Testnet version.
- Commence testing for the Forced Exit Module.
In May 2024, they aim to:
- Introduce the Bool Stack.
- Integrate the Testing network.
- Optimize the performance of Bool Network.
In June 2024, the project intends to:
- Conduct an audit of Bool Network's core code.
- Undertake a security audit for the project.
- Open-source the DHC code.
Finally, in July 2024, the Mainnet will be launched.
7. Guide to participation in Bool Network's airdrops
7.1. Joining the Galxe program
Step 1: Visiting the provided link.
Step 2: Connecting the Metamask wallet.
Step 3: Completing tasks on platforms like Twitter and Discord to earn NFTs, which will determine future rewards.
7.2. Joining the Alpha Testnet
Node DHC Reward Distribution:
- Out of the total 1 billion tokens (BOOL), 10% (100 million) are designated as rewards for Testnet Nodes, with 50 million tokens reserved specifically for DHC nodes.
- For the first 200 nodes, daily rewards amount to 625 tokens, with a maximum incentive of 50,000 tokens achievable after 80 days.
- Nodes ranked 201–300 receive daily rewards of 500 tokens, with a maximum incentive of 40,000 tokens attainable after 80 days.
- Nodes ranked 301–400 receive daily rewards of 375 tokens, with a maximum incentive of 30,000 tokens attainable after 80 days.
Tokens earned from the testnet must be staked for a 6-month period, after which they will be gradually released over 18 months.
At Mainnet launch, each DHC node must stake 100,000 tokens (subject to potential future adjustments through governance). As testnet participants hold a maximum of 50,000 tokens, node operators may invite community members to delegate stake or register on the platform to compensate for any shortfall. Delegated stakeholders will enjoy platform delegate share rights for 6 months. Rewards from platform-delegated stake will be wholly allocated for community airdrops.
Becoming a DHC Node:
Interested individuals can follow the step-by-step instructions provided in the project's Gitbook. Alternatively, newcomers can access the provided link and follow the instructions to faucet tokens and participate in the Alpha Testnet for an opportunity to receive rewards.
7. Project infomation
8. Conclusion
The provided article discusses Bool Network and provides instructions for participating in airdrop opportunities offered by the project. We trust that you have found the information beneficial. Should you have any inquiries, kindly post them in the BigcoinVietnam group for clarification.
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