BRAVO Pay - Blockchain Components
As a part of our Medium campaign to educate our community and the public on BRAVO, we created a series of Medium posts with snippets of the white paper. Below is a general overview of the BRAVO Blockchain Components and how our technology tie together. If it is of interest of you, we recommend that you head over to www.bvo.trybravo.com to download the full white paper available in 5 languages (English, Spanish, Russian, Korean and Japanese) and sign up for the whitelist!
The BRAVO Blockchain will empower Consumers and Providers to send and receive cryptocurrency payments with full anonymization capacity. BRAVO will create a Blockchain API that will include User Wallets, BVO Token Reserve, Operational Wallet & Exchange, Wallet SDK, Public Transparent Blockchain, Public Anonymous Blockchain, and Validators. BRAVO will also assign Trusted Liquidity Partners who will provide “over the counter” exchanges to BRAVO users worldwide while operating to collect a small fee of each transaction exchange. Liquidity partners will be able to operate as tellers to offer cash liquidity in localized regions in exchange for the BVO Token. A proprietary API will be built for Liquidity Partners, so their operations can be managed. The API will also support third-party applications.
BVO ICO Token
The ERC protocol standard function is a technical specification on the Ethereum blockchain optimized for token transference, token balance inquiries for specific addresses and total supply of tokens. The BVO Token for the BRAVO ICO (called “BVO-ERC” token) will be based on the ERC20 protocol for its utility optimizations specific to the BRAVO ICO. The BVO-ERC protocol will reduce risk and complexity while providing uniformity and an enhanced level of liquidity for tokens.
While the protocol attributes of the BVO-ERC token are robust and ideal during BRAVO’s ICO, the high-volume demand of BRAVO’s micro-transaction economy will require a utility token protocol with decentralized control, low latency, flexible trust and asymptotic security. This next phase utility token protocol will simply be called “BVO” and will move money quickly, reliably and for a fraction of a penny. Contrary to BVO-ERC protocol, the BVO token blockchain protocol will be ideal for BRAVO’s daily load of payments and transactions and the BVO blockchain network will resolve each transaction in a few seconds (on average). BRAVO will allow BVO-ERC Token holders to exchange their purchased security tokens for BVO blockchain protocol tokens. Tokens will be deposited with minimal latency into the user’s wallet right after the purchase. Any BVO-ERC Tokens exchanged for BVO Tokens will be “burned”.
ICO Token Smart Contracts
BVO Token smart contracts will be tested on Testnet environments to simulate the Ethereum network and EVM to confirm contracts are functioning as expected (while bypassing the cost of gas). BRAVO will offer BVO Token purchasers a custom built portal that is private and secure and will work asynchronously with the Ethereum DApp Metamask which will allow the purchase of the BVO-ERC token. Post-ICO, all BVO Token purchases will receive the new standard of BRAVO’s BVO blockchain protocol token (not BVO-ERC).
Incognito Blockchain Payments
BRAVO blockchain technology will offer the capacity for anonymized payments through BRAVO’s private blockchain. Consumers will be able to pay Providers anonymously utilizing BRAVO’s private blockchain network. This network will be hosted on BRAVO’s private blockchain and approved partners can become validators. BRAVO’s anonymous blockchain payments feature zero-traceability.
Mobile Operator Wallets
BRAVO mobile operators (app users) can be provisioned a BRAVO wallet to send, receive and store BVO Tokens. This wallet will support anonymous and non-anonymous payments. Private keys for each wallet are stored in a secure and private key vault with BRAVO. BRAVO will be able to deposit BVO tokens into user wallets and pull from excess cold storage if additional operational funds are ever necessary.
The developments over the next few months will be sure to bring about new and improved features that compliment the user experience, but as for now we will utilize the technique which has served us so well over the past year by utilizing the community and user feedback for continued improvement.