South Korea based public blockchain project BOSCoin has raised $3m in an undisclosed funding round. The funding will further help to build a platform aimed at solving many of the current issues in decentralized systems and introduce a new approach to smart contracts.
BOSCoin seeks to provide an alternative to Ethereum where “the freedom and flexibility provided by the Turing-complete language which Ethereum is based on is the cause for several serious problem.” The whitepaper reads: “We believe that using a turing-complete language may be inappropriate for writing smart contracts as they are inherently undecidable. Due to this undecidability issue, a smart contract based on a Turing-complete language will make it difficult to know what a smart contract will do before running it. “Ethereum attempts to overcome this issue by applying a cost to computational work (gas), however the inherent issue of the language used to program and execute smart contracts has inevitably led to a series of security vulnerabilities and outright failed projects such as The DAO.”