BUMO is a blockchain based project which has the objective of creating a trust network within which value would flow as freely as information. Smart devices which are used all over the world would be used to acheive this goal. Users can assign value to what they want and agree on, transferring value using unique BUMO technologies like BU Foreworks, BU Canal, BU Orbits and also BU Codematch. With BUMO, the true benefits of digital economy can be harnessed to benefit a lot of lives.
Companies and individuals would find it easy to integrate the blockchain technology with BUMO. Costly and complex processes are avoided using traditional value transfer methods. Users can launch dApps with little or no developers knowledge through the use of a templates library which is easily assessible.
There are various limits of the blockchain technology as it affects mass adoption.
- Performance- transaction speed is really slow
- Energy consumption- Proof of work mining consumes a greay deal of energy which leads to centralization of mining
- Application threshold- Professional technical expertise is scarce which leads to difficulty integrating blockchain products into businesses.
- Value isolation- It remains a fact that there are no liquid markeys for cryptocurrencies.
Any smart device can be a participant in the BUMO network.
Nodes would contribute to maintenance of network, app development and creation of value.
Participants have the following roles;
- Nodes- Means any smart device connected to the network, all are ttansparent and autonomous.
- Candidate nodes- qualified nodes are selected as candidate nodes which are put through an election to become validator nodes
- Validator nodes- are responsible for network accounting as well as resource management. Thet collect network transaction fees.
BUMO has the following benefits over other networks;
- With the new consensus algorithm BU Firework, BUMO would have higher transaction ouput, highly scalable with better security.
- Tons of transaction can be done in seconds
- Digital assets can easily be transferred and so gain new value
- Digital and physical assets can be used to establish a new currency as legal tender
- Transactions done on the network are safe
- High cost of network maintenance is eliminated
BUMO network is easily assessible, fast and safe to use. New users would be encouraged who can buy and sell values with ease. Also, here is a network with trusted network nodes which allow easy and smooth deployment of smart devices.
For more information, check
[BUMO Website](BUMO](https://www.bumo.io/)
BUMO WhitePaper
BUMO TechnicalPaper
BUMO Telegram
BUMO Weibo
BUMO Reddit
BUMO Facebook
BUMO Twitter
BUMO Github
BUMO Wallet
Written for originalworks writing contest
bumo2018