SEOUL, South Korea, May 2, 2018 /PRNewswire/ -- BOSCoin, (www.boscoin.io, CEO Choi Yezune), has successfully debuted as Korea's number 1 blockchain in May 2017 and is making a reputation for itself by consolidating its project by following through its roadmap. BOSCoin has now developed an electronic voting system based on homomorphic encryption solution that guarantees anonymity (secret voting) and singular votes (equality).
BOSCoin has focused in democratic decision making of the 'Congress Network' through technological development. The electronic voting system developed guarantees both anonymity and protects against Sybil Attack by applying homomorphic encryption to give one vote per person. Through this congress voting, which is based on homomorphic encryption, BOScoin Mainnet has made de-centralized, democratic platform a dream come true.
The method of utilizing one's private information while protecting though codification was first thought of by Rivest, Adleman, and Dertouzos in 1978. The idea came into reality in 2009 by an IBM researcher Craig Gentry. Seoul National University handed over the technology involving homomorphic encryption solution to Korea Smart Authentication Corporation in 2016 and after the corporation was selected in the TIPS program, it is developing privacy related products including biometrics. This February, the corporation gained a patent for homomorphic encryption based electronic voting system.
BOSCoin focuses on privacy technology developed by Korea Smart Authentication Corporation and is the primary stake holder. The two firms collaborated on a prototype to verify the electronic voting system, which was a success, and has a goal to integrate the Mainnet by the end of the year.
BOSCoin developed mFBA and Trust Contrust though ISSAC Protocol, which are core technologies for Mainnet, and are exposing them on open source communities to collaborate with open source engineers around the world. The homomorphic encryption based electric voting system will be unveiled partially after the White Paper 2.0 is presented.
Choi Yezune, CEO of BOSCoin, stated, "BosCoin aims to create communication and trust by building innovative currency and credit though blockchain and cryptocurrency." He further added, "Homomorphic encryption will be used for purpose beyond electronic voting system. It will act as a core tool for perfect protection of BOSCoin's Mainnet infrastructure."
BOSCoin is Korea's first blockchain initiated by Blockchain OS though ICO in May 2017. Initial issue amount was 5 billion BOSCoin and BOSCoin's ICO reached 15.7 Billion hard cap in 9 minutes. It was listed on Kucoin (www.kucoin.com) on February 2018.