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- 1 BBS is a cryptocurrency token that operates on the Ethereum platform.
- 2 BBS Network is a decentralized network of user-owned message boards.
Anyone can create bulletin board service or BBS on any subject and can run their domain. Each post is secured by the blockchain ensuring censorship resistance and transparency. Social bulletin sites like Reddit are a good way of connecting with the community online.
But, the secret algorithms and opaque codebases take away the user’s trust. BBS solves this by saving all the data on-chain and distributing BBS tokens to early adopters who build and moderate thriving message boards on the network. It facilitates a cost-effective way to store all the data needed to operate this platform in a decentralized way.
The revenue is shared between the ecosystem which comprises BBS owners, Board moderators, content publishers, operators, and developers. It decentralized content sharing by allowing anyone to make a bulletin board hosted on the BBS Directory.
What is the BBS Decentralized Bulletin Board Network?
Thousands of individuals ran bulletin board services (BBS) from their homes before Reddit and Myspace. The large centralized companies took over the responsibility of curating user-generated content. They believe and market the idea that the internet eliminates boundaries and connects people from all over the world.
However, they never highlight that the user content is being used to pursue freedom. The technology they propelled as an innovation of connecting the world’s population utilizes the user’s data.
BBS, the new entity, stores data and uses convoluted algorithms to serve users, which is marketable and advertisable. Instead of opening up all the information related to the user, the needed information is shared with it.
The BBS network brings back the idea of user-generated bulletin boards. It is a widely popular message board like Reddit. The BBS servers of the 1980s and 90s are inspired by both the project name and function. The BBS network replicates these servers using the EOS blockchain and allows the user to start increasing the blockchain bulletin servers.
It is a public online service. It uses distributed architecture, revenue model, and infrastructure. The EOS network plays an important role in helping BBS solve the scaling issues that emerge from operating the social content on the blockchain.
All the BBS on-chain data is stored by EOS in a decentralized way and is cost-effective.
Why did the BBS Team Select EOS Network?
EOS was the natural choice for the BBS team. The main purpose of BBS is to help users create the bulletin boards. Users create billboards by publishing the smart contract on the blockchain that interacts with the BBS network. This process of publishing the smart contract is costly in other blockchains. On EOS, the BBS platform can easily afford hundreds of cents costs for contract deployment. It also provides the benefit of a distributed ledger.
Waiting for the transaction confirmation is another key to gaining user retention in Web3. The other consideration includes the transaction time. On Ethereum, the block transaction time is between 12-15 TPS while here the EOS network appends blocks every half second. This gives users the best experience when compared to the traditional databases.
EOS also provides high liquidity and broader adoption. To incentivize the ecosystem, BBS network distributes BBS tokens to community participants. The tokens are used for purchasing, selling and also for transfers instead of just advertising on the platform. However, due to the limited availability of the tokens, the chances to buy and sell them are also restricted.
Any large buy and sell can affect the price, making payouts unpredictable.
Hence, at instant transaction speeds and minimal fees, EOS provides unparalleled value to the BBS platform
Types of BBS Network
There are different types of BBS networks. Namely dial-up BBS, web-based BBS, and telnet BBS. BBS is accessible through Telnet which is a dial-up modem. It originated before the graphical user interface (GUI) became prevalent. The BBS interface was text-based.
Although recent web-based versions have a graphical, interactive user interface
Features of BBS Network:
Some of the features of BBS networks are message boards, file sharing, chat rooms, and games. Some of the BBS are general while others are devoted to a specific subject.
Some special interests include multiplayer games, dentistry, etc. The BBS are often free and sometimes charge minimum membership fees. Many BBS have websites and many access providers have bulletin board systems from which new internet users can download the necessary software to get connected.
Advantages and Disadvantages of BBS networks
On the internet, there are innumerable ideas but BBS has bolstered the idea of control and surveillance of those ideas. The ability to connect with like minded individuals, privacy, and security, are some of the advantages of BBS networks.
Like Reddit, BBS is a decentralized bulletin board service. It allows users to participate and create in bulletin boards.
The transaction speed is high on BBS due to EOS. The EOS also permits BBS to deploy bulletin board smart contracts for users at low cost. It also provides high liquidity and exchange adoption. EOS allows users to swap their BBS tokens and cash out their preferred currency.
Some of the disadvantages of BBS networks are slow connection speeds, limited accessibility, and the need for specialized software.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
