Coin Freezing is a Proof of Stake concept where if a user locks-in their coins and in
return they will receive interest based on the number of coins frozen and the length of
time the coins are stored. This interest is called the Freezing Reward. Users can
freeze coins in units, which are sets of 10,000 BOS. Frozen coins are used as
collateral in case of attempted forgery of the blockchain. If a node attempts to forge
the blockchain, a portion of the frozen coins are confiscated and sent to the
Commons Budget. Additionally the system requires two weeks prior notice to
unfreeze coins, as a mechanism to promote price stability.
Freezing Reward: Congress Members receive the same amount of interest as
normal wallet users when coins are frozen. Starting from the first year, a total of 5,400
BOS is distributed equally to each unit of frozen BOScoins. This freezing reward is
issued every 720 blocks(roughly one hour). The total amount that is distributed
decreases by 5.00% year on year over 59 years.
Always keep your keys safe: Please store your private keys in safe place. Don't share it with anyone. Don't enter it on any website. You and only you are responsible for your security.
We are not responsible for any loss: Bosradar.com is under active development. While we are doing thoroughly testing, there is always the possibility something unexpected happens.
THE SOFTWARE IS PROVIDED "AS IS", WITHOUT WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT. IN NO EVENT SHALL THE AUTHORS OR COPYRIGHT HOLDERS BE LIABLE FOR ANY CLAIM, DAMAGES OR OTHER LIABILITY, WHETHER IN AN ACTION OF CONTRACT, TORT OR OTHERWISE, ARISING FROM, OUT OF OR IN CONNECTION WITH THE SOFTWARE OR THE USE OR OTHER DEALINGS IN THE SOFTWARE.