As the next-generation commercial public chain - BUMO has always been committed to breaking through the blockchain technology bottleneck and promoting mass adoption for business. When released in 2018, BUMO pioneered a three-tier architecture to help blockchain technology applied to a variety of commercial applications. BUMO not only provides open, efficient, and scalable network protocols in a decentralized manner, but also provides a second-tier agreement on asset digitization and value circulation in various industries such as finance, internet of things, and sharing economy. BUMO builds a value Internet under the “Digital Everything Framework” (DeF) for business applications. BUMO is committed to building a distributed public chain ecosystem for commercial use with widely digital trust, free value movement, public engagement and application sharing. This public chain will be an open community platform which is built and shared by the community.
After running on the main network for one year, it is proved the technology of BUMO is stable and the ecosystem is developing in an orderly manner. The BUMO Foundation plans to upgrade the BUMO public chain governance by launching the community governance program where community participants can campaign for super nodes and form the highest governance body of the BUMO public chain – the Node Governance Committee. The Community Governance Program is an open ecological program embracing the entire industry participation, and truly delegates the governance right of BUMO public chain to the community.
The BUMO public chain ecosystem is completely open and autonomous, seamlessly connecting the physical world to the blockchain digital world. Once selected as a super node, you can be authorized by the BUMO community to engage in BUMO's business and community development activities. Under the governance rules of the tokenized economy, there are incentives to engage in various activities. For example, you can submit a Development Plan Proposal, and receive support from the BUMO Ecosystem, the Community Fund, the Node Governance Committee and other resources from the community after your proposal is approved. Community Governance Program regularly campaigns for the highest governance body of the BUMO public chain – the Node Governance Committee.
This Community Governance Program includes two types of nodes, which are validating nodes and ecological nodes. The validating nodes belong to the physical nodes, participate in the BU Firework consensus and block packaging, and are the infrastructure in the BUMO ecosystem. The ecological nodes are virtual nodes that help BUMO build an ecosystem with their social or public influence. The Community Governance Program is going to select 19 validating nodes and 21 ecological nodes. The vote will be launched in the community, and the whole voting process is fair and transparent. Everyone in the community can participate this vote and benefit from it.
The Community Governance Program is mainly for organizations and individuals with mature business modes. Participating in the node campaign requires strength and influence to gain the recognition and trust of all ecological participants. By setting up a barrier to entry for the campaign, the Foundation will pick out teams or individuals who are truly capable and willing to serve the BUMO community.
The BUMO super nodes enjoy the most benefits in the public chain of BUMO ecosystem and they are also responsible for the expansion of the community and vitality of the ecology and the promotion of business related to BU. The block rewards and transaction fees on the public chain of BUMO will be distributed to the super nodes and candidate nodes by a certain ratio. The reward ratio between validating nodes, candidate validating nodes, ecological nodes, and candidate ecological nodes is 50:10:35:5. Anyone who joins the campaign node set can receive votes and get rewards!
Users on the BUMO platform have the right to vote for and select super nodes to build the BUMO ecology, and promote commercial projects. The campaign node can customize the reward ratio for voters. The rewards received by voters are in proportion to their votes and the total votes. After withdrawing votes, voters will not receive rewards.
1. Provide server and hardware equipment, enjoy validating rights, participate in BU Firework consensus and block packaging, ensure the efficiency of block generation, and the safe operation of the public chain of BUMO
2. Actively participate in community governance and jointly promote community management
3. Provide support for brand promotion and community influence for the public chain of BUMO, and attract more partners and community partners
4. Provide business model design, fundraising, technology development, marketing, user traffic promotion, legal consultation and other services and support for projects on the chain
1. The reward ratio between validating nodes, candidate validating nodes, ecological nodes, and candidate ecological nodes is 50:10:35:5; the reward for validating nodes = (block reward + transaction fee)*50%
2. The transaction fees distributed will increase with time. The current daily transaction volume of Ethereum is about 500,000. Assuming a daily transaction volume of 500,000 on the BUMO chain, calculate according to the transaction fee of 0.0025BU per transaction, then the total transaction fee is: 500000 * 0.0025 = 1250 BUs; the total reward that can be obtained by the validating nodes per day is: (69120+1250)*50% = 35,185 BUs